Lutheran Housing Association for the Elderly of the V I Inc

Analysis

Lutheran Housing Association for the Elderly of the V I Inc is a registered charity in United States, based in Frederiksted, VI. It received its IRS tax-exemption ruling in August 1984, 42 years ago. 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 Housing Association for the Elderly of the V I Inc reported income of $1.0m and spending of $1.2m, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $898k to $1.0m (+15%), an average of +3.6% a year. The sharpest change came in the year to September 2022, when income rose by 86%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Housing Association for the Elderly of the V I Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 86th percentile within VI. Charities of a similar size with the same main cause include New Milford Inter Faith Housing Inc ($1.0m), Work Environment Council of New Jersey Inc ($1.0m) and Pierce County Library Foundation ($1.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 84% and program service revenue 0.7% of the total. At year end it held assets of $2.5m against liabilities of $3.3m, net assets of -$755k.