Luther House of Study

Analysis

Luther House of Study is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in June 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Luther House of Study reported income of $1.1m and spending of $902k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $826k to $1.1m (+28%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 72% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Luther House of Study sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within SD. Charities of a similar size with the same main cause include Suncoast Christian Academy Inc ($1.1m), School District of Kansas City Missouri Building Corporation ($1.1m) and Plato Academy Incorporated ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $193k (21% of expenses). Other salaries and wages came to $225k. At year end it held assets of $574k against liabilities of $19k, net assets of $556k. It reported 3 employees.