Lutheran Gardens Apartments Inc

Analysis

Lutheran Gardens Apartments Inc is a registered charity in United States, based in Frederiksted, VI. It received its IRS tax-exemption ruling in July 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Lutheran Gardens Apartments Inc reported income of $212k and spending of $277k, spending 131% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $213k to $212k (-0.6%), an average of -0.1% a year. The sharpest change came in the year to September 2022, when income rose by 104%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lutheran Gardens Apartments Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 59th percentile within VI. Charities of a similar size with the same main cause include Cloville Homes Inc ($212k), Tachs Property Development ($212k) and Brothers Keeper Inc ($212k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 91% and program service revenue 0.2% of the total. At year end it held assets of $1.2m against liabilities of $1.6m, net assets of -$476k.