Lutheran Residences Inc

Analysis

Lutheran Residences Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in January 1967, 59 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2022, Lutheran Residences Inc reported income of $66k and spending of $1.5m, spending 2262% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $14.0m to $66k (-100%), an average of -83% a year. The sharpest change came in the year to December 2022, when income dropped by 95%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lutheran Residences Inc sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 30th percentile within FL. Charities of a similar size with the same main cause include One Fresno Foundation ($66k), Homes Anew II Ltd ($66k) and Keystone Housing Development Corp ($66k).

At year end it held assets of $2.7m against liabilities of $0, net assets of $2.7m.