Lutheran Retirement Home of Greater Seattle Inc

Analysis

Lutheran Retirement Home of Greater Seattle Inc is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in November 1961, 65 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Lutheran Retirement Home of Greater Seattle Inc reported income of $20.9m and spending of $25.2m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.9m to $20.9m (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2020, when income rose by 15%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lutheran Retirement Home of Greater Seattle 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 98th percentile within WA. Charities of a similar size with the same main cause include Middlesex Human Service Agency Inc ($20.8m), Orchard Park CCRC Inc ($20.9m) and Bay Area Community Services Housing Corporation ($20.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $607k (2.4% of expenses). Other salaries and wages came to $9.3m. At year end it held assets of $72.1m against liabilities of $74.5m, net assets of -$2.4m. It reported 254 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.