Lutheran Retirement Center - Clemmons Inc

Analysis

Lutheran Retirement Center - Clemmons Inc is a registered charity in United States, based in Salisbury, NC. It received its IRS tax-exemption ruling in April 1988, 38 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lutheran Retirement Center - Clemmons Inc reported income of $1.3m and spending of $1.2m, spending 88% of its income. Across the 3 years on record, from September 2021 to September 2023, income grew from $1.2m to $1.3m (+7.6%), an average of +3.7% a year. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lutheran Retirement Center - Clemmons Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Ottawa YMCA Foundation ($1.3m), American Moment Inc ($1.3m) and All Kids Can Learn International Inc ($1.3m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 96% of the total. Other salaries and wages came to $198k. At year end it held assets of $12.3m against liabilities of $11.8m, net assets of $540k.