Lutheran Homes of South Carolina Foundation Inc

Analysis

Lutheran Homes of South Carolina Foundation Inc is a registered charity in United States, based in Irmo, SC. It received its IRS tax-exemption ruling in October 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lutheran Homes of South Carolina Foundation Inc reported income of $4.0m and spending of $2.6m, leaving 36% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.5m to $4.0m (+15%), an average of +3.6% a year. The sharpest change came in the year to September 2021, when income rose by 234%. Over the whole period it spent 50% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lutheran Homes of South Carolina Foundation Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within SC. Charities of a similar size with the same main cause include Elite Alternatives Inc ($4.0m), Leading Into New Communities Inc ($4.0m) and Circle of Concern ($4.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 15% of the total. Compensation of current officers, directors and key employees was $278k (11% of expenses). Other salaries and wages came to $140k. At year end it held assets of $48.9m against liabilities of $111k, net assets of $48.8m.