Luke Inc
Luke Inc. faces significant operating deficits despite substantial revenue growth, with liabilities consistently exceeding assets.
EIN: 203524338 · Collierville, TN · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $27.7M |
| Total Expenses | $39.2M |
| Program Spending | 75% |
| Net Assets | $-50,383,741 |
| Transparency Score | 65/100 |
Is Luke Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Luke Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Luke Inc
Luke Inc (EIN: 203524338) is a nonprofit organization based in Collierville, TN, classified under NTEE code L22. The organization reported total revenue of $27.7M and total assets of $244.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Luke Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Luke Inc is a large nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $23.1M |
| Total Expenses | $39.2M |
| Surplus / Deficit | $-16,066,330 |
| Total Assets | $248.1M |
| Total Liabilities | $298.5M |
| Net Assets | $-50,383,741 |
| Operating Margin | -69.5% |
| Debt-to-Asset Ratio | 120.3% |
| Months of Reserves | 76.0 months |
Financial Health Grade: C
In 2023, Luke Inc reported a deficit of $16.1M with expenses exceeding revenue, holds 76.0 months of operating reserves (strong position), has a debt-to-asset ratio of 120.3% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +143.9% | +48.7% | -1.2% |
| 2022 | +592.7% | +392.3% | +2.8% |
| 2021 | +58.9% | +140.3% | +1.5% |
| 2020 | +66.1% | -5.3% | +6.6% |
| 2019 | +155.1% | +11.2% | +996.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Luke Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Luke Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $16.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 120.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either uncompensated or their compensation is not reported in this category, which is a strong positive for transparency and efficient use of funds relative to the organization's size and growing revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Luke Inc's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) across multiple years, notably $16M+ in 2023.
- Liabilities frequently exceed assets, indicating a potentially leveraged financial position (e.g., $298M liabilities vs. $248M assets in 2023).
- Rapid increase in expenses without a proportional increase in unrestricted revenue to cover them.
Strengths
The following positive indicators were identified for Luke Inc:
- Reported 0% officer compensation across all filings, indicating strong transparency or volunteer leadership.
- Significant growth in assets over the past decade, from $8.5M in 2014 to $244M in 2023.
- Substantial increase in revenue, from $7,924 in 2014 to $27,676,096 in the latest period, demonstrating growing support.
Frequently Asked Questions about Luke Inc
Is Luke Inc a legitimate charity?
Luke Inc (EIN: 203524338) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $27.7M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Luke Inc spend its money?
Luke Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Luke Inc tax-deductible?
Luke Inc is registered as a tax-exempt nonprofit (EIN: 203524338). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Luke Inc's spending goes to programs?
Luke Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Luke Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Luke Inc is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Luke Inc located?
Luke Inc is headquartered in Collierville, Tennessee and files with the IRS under EIN 203524338. It is classified under NTEE code L22.
How many years of IRS 990 filings does Luke Inc have?
Luke Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $27.7M in total revenue.
Is Luke Inc. financially sustainable given its consistent operating deficits?
Luke Inc. has consistently reported expenses exceeding revenue, with a significant deficit of over $16 million in 2023 ($39,181,471 expenses vs. $23,115,141 revenue). This trend raises concerns about its long-term financial sustainability and reliance on other funding sources or asset drawdowns.
What is the nature of Luke Inc.'s liabilities, which often exceed its assets?
The filings show liabilities frequently surpassing assets (e.g., $298,456,559 liabilities vs. $248,072,818 assets in 2023). A deeper dive into the 990 forms would be needed to understand the composition of these liabilities, such as debt, program commitments, or other obligations, and their implications for the organization's financial stability.
How does Luke Inc. fund its operations given the consistent revenue shortfalls?
With expenses consistently higher than revenue, Luke Inc. likely relies on accumulated reserves, investment income not fully captured in 'revenue,' or significant non-cash contributions/grants to cover its operational costs. Further analysis of their Statement of Functional Expenses and Statement of Revenue would clarify funding sources.
Filing History
IRS 990 filing history for Luke Inc showing financial trends over 13 years of public records:
Total assets increased by 4072% over the same period, from $5.9M to $248.1M. Total functional expenses rose by 44119.4%, from $89K to $39.2M. In its most recent filing year (2023), Luke Inc reported a deficit of $16.1M, with expenses exceeding revenue. The organization holds $298.5M in liabilities against $248.1M in assets (debt-to-asset ratio: 120.3%), resulting in net assets of $-50,383,741.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $23.1M | $39.2M | $248.1M | $298.5M | — | — |
| 2022 | $9.5M | $26.4M | $251.2M | $285.5M | — | View 990 |
| 2021 | $1.4M | $5.4M | $244.4M | $261.8M | — | View 990 |
| 2020 | $861K | $2.2M | $240.8M | $254.3M | — | View 990 |
| 2019 | $518K | $2.4M | $225.9M | $238.0M | — | View 990 |
| 2018 | $203K | $2.1M | $20.6M | $28.2M | — | View 990 |
| 2017 | $45K | $1.8M | $18.0M | $23.7M | — | — |
| 2016 | $11K | $1.8M | $14.9M | $18.8M | — | View 990 |
| 2015 | $5K | $1.3M | $12.8M | $14.9M | — | View 990 |
| 2014 | $8K | $717K | $8.5M | $9.3M | — | View 990 |
| 2013 | $5K | $583K | $8.4M | $8.5M | — | View 990 |
| 2012 | $1K | $25K | $6.7M | $6.1M | — | View 990 |
| 2011 | $0 | $89K | $5.9M | $5.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $23.1M, expenses of $39.2M, and assets of $248.1M (revenue +143.9% year-over-year).
- 2022: Revenue of $9.5M, expenses of $26.4M, and assets of $251.2M (revenue +592.7% year-over-year).
- 2021: Revenue of $1.4M, expenses of $5.4M, and assets of $244.4M (revenue +58.9% year-over-year).
- 2020: Revenue of $861K, expenses of $2.2M, and assets of $240.8M (revenue +66.1% year-over-year).
- 2019: Revenue of $518K, expenses of $2.4M, and assets of $225.9M (revenue +155.1% year-over-year).
- 2018: Revenue of $203K, expenses of $2.1M, and assets of $20.6M (revenue +347.7% year-over-year).
- 2017: Revenue of $45K, expenses of $1.8M, and assets of $18.0M (revenue +296.1% year-over-year).
- 2016: Revenue of $11K, expenses of $1.8M, and assets of $14.9M (revenue +118.3% year-over-year).
- 2015: Revenue of $5K, expenses of $1.3M, and assets of $12.8M (revenue -33.7% year-over-year).
- 2014: Revenue of $8K, expenses of $717K, and assets of $8.5M (revenue +63.4% year-over-year).
- 2013: Revenue of $5K, expenses of $583K, and assets of $8.4M (revenue +237.0% year-over-year).
- 2012: Revenue of $1K, expenses of $25K, and assets of $6.7M.
- 2011: Revenue of $0, expenses of $89K, and assets of $5.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Luke Inc:
Data Sources and Methodology
This transparency report for Luke Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.