Solvang Lutheran Home Inc

Analysis

Solvang Lutheran Home Inc is a registered charity in United States, based in Solvang, CA. It received its IRS tax-exemption ruling in September 1955, 71 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Solvang Lutheran Home Inc reported income of $16.6m and spending of $15.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $14.5m to $16.6m (+15%), an average of +3.4% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Solvang Lutheran Home Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Crisis Assistance Ministry ($16.6m), River Food Pantry ($16.6m) and Westminster Shores Inc ($16.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.6% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $1.0m (6.6% of expenses). Other salaries and wages came to $6.7m. At year end it held assets of $37.9m against liabilities of $14.7m, net assets of $23.3m. It reported 248 employees.