Lutheran Social Ministries of Maryland Inc

Analysis

Lutheran Social Ministries of Maryland Inc is a registered charity in United States, based in Westminster, MD. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lutheran Social Ministries of Maryland Inc reported income of $6.0m and spending of $5.7m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $6.0m (+175%), an average of +29% a year. The sharpest change came in the year to June 2020, when income rose by 94%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lutheran Social Ministries of Maryland Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MD. Charities of a similar size with the same main cause include Upper Manhattan Empowerment Zone Development Corporation ($6.0m), Scope 310 Authority ($6.0m) and Mayfield Graves LTRG Inc ($5.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $986k (17% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $2.6m against liabilities of $879k, net assets of $1.7m. It reported 34 employees.