Lutheran Social Services of the Virgin Islands Inc

Analysis

Lutheran Social Services of the Virgin Islands Inc is a registered charity in United States, based in Frederiksted, VI. It received its IRS tax-exemption ruling in August 1963, 63 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 September 2023, Lutheran Social Services of the Virgin Islands Inc reported income of $21.4m and spending of $6.4m, leaving 70% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $8.2m to $21.4m (+160%), an average of +27% a year. The sharpest change came in the year to September 2023, when income rose by 153%. Over the whole period it spent 63% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Social Services of the Virgin Islands Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 100th percentile within VI. Charities of a similar size with the same main cause include Austin Habitat for Humanity Inc ($21.4m), Catholic Eldercare ($21.4m) and Cazenovia Recovery Systems Inc ($21.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 1.3% of the total. Other salaries and wages came to $3.7m. At year end it held assets of $27.3m against liabilities of $606k, net assets of $26.7m. It reported 158 employees.