Luther Terrace Inc

Analysis

Luther Terrace Inc is a registered charity in United States, based in Cordova, TN. It received its IRS tax-exemption ruling in May 1985, 41 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Luther Terrace Inc reported income of $489k and spending of $494k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $464k to $489k (+5.3%), an average of +1.3% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Luther Terrace Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within TN. Charities of a similar size with the same main cause include Texas Teo-Chew Temple ($489k), Enc Inc Syntex Corporation ($489k) and Nami Mercer NJ Inc ($489k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 30% of the total. Other salaries and wages came to $51k. At year end it held assets of $819k against liabilities of $726k, net assets of $94k.