Luther Rice University Inc

Analysis

Luther Rice University Inc is a registered charity in United States, based in Lithonia, GA. It received its IRS tax-exemption ruling in April 1965, 61 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Luther Rice University Inc reported income of $4.3m and spending of $4.2m, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $4.9m to $4.3m (-13%), an average of -2.7% a year. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Luther Rice University Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within GA. Charities of a similar size with the same main cause include Laurel Ridge Community College Educational Foundation Inc ($4.3m), Elder Care of Alachua County Inc ($4.3m) and Van Wert County Foundation ($4.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 7.3% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $473k (11% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $8.3m against liabilities of $940k, net assets of $7.4m. It reported 63 employees.