Riverview Lutheran Retirement Community of Spokane

Analysis

Riverview Lutheran Retirement Community of Spokane is a registered charity in United States, based in Spokane, WA. It received its IRS tax-exemption ruling in January 1969, 57 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Riverview Lutheran Retirement Community of Spokane reported income of $15.4m and spending of $17.3m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $22.0m to $15.4m (-30%), an average of -8.4% a year. The sharpest change came in the year to December 2020, when income dropped by 34%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Riverview Lutheran Retirement Community of Spokane sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within WA. Charities of a similar size with the same main cause include Community Multi Services Inc ($15.4m), Eschaton Foundation ($15.4m) and Guidance Care Center Inc ($15.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.0% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $425k (2.5% of expenses). Other salaries and wages came to $6.4m. At year end it held assets of $48.3m against liabilities of $58.2m, net assets of -$9.9m. It reported 261 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.