Luther Towers Of Dover Inc
Luther Towers Of Dover Inc: Stable Finances, High Program Spending
EIN: 222458263 · Dover, DE · NTEE: L22Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $790K |
| Total Expenses | $536K |
| Program Spending | 80% |
| Net Assets | $1.1M |
| Transparency Score | 85/100 |
Is Luther Towers Of Dover Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Luther Towers Of Dover Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Luther Towers Of Dover Inc
Luther Towers Of Dover Inc (EIN: 222458263) is a nonprofit organization based in Dover, DE, classified under NTEE code L22Z. The organization reported total revenue of $790K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Luther Towers Of Dover Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Luther Towers Of Dover Inc is a small nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $767K |
| Total Expenses | $536K |
| Surplus / Deficit | +$231K |
| Total Assets | $1.4M |
| Total Liabilities | $365K |
| Net Assets | $1.1M |
| Operating Margin | 30.1% |
| Debt-to-Asset Ratio | 25.4% |
| Months of Reserves | 32.1 months |
Financial Health Grade: A
In 2024, Luther Towers Of Dover Inc reported a surplus of $231K with revenue exceeding expenses, holds 32.1 months of operating reserves (strong position), has a debt-to-asset ratio of 25.4% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Luther Towers Of Dover Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +8.5% | -2.7% | +11.8% |
| 2023 | +3.3% | +4.2% | +0.1% |
| 2022 | +1.3% | +4.1% | +3.6% |
| 2021 | +4.8% | +3.6% | +1.3% |
| 2020 | +15.8% | +3.4% | +7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Luther Towers Of Dover Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Luther Towers Of Dover Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $231K, with revenue exceeding expenses.
- Debt-to-asset ratio: 25.4%.
Executive Compensation Analysis
Executive compensation information is not explicitly detailed in the provided data, preventing a specific assessment of individual salaries.
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.
Strengths
The following positive indicators were identified for Luther Towers Of Dover Inc:
- Consistent revenue generation, with 2024 revenue at $766,966.
- Strong asset growth and significant reduction in liabilities over the past five years.
- Efficient expense management, with expenses ($536,263 in 2024) consistently lower than revenue.
Frequently Asked Questions about Luther Towers Of Dover Inc
Is Luther Towers Of Dover Inc a legitimate charity?
Luther Towers Of Dover Inc (EIN: 222458263) is a registered tax-exempt nonprofit based in Delaware. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $790K. No red flags identified. 3 strengths noted. Financial health grade: A.
How does Luther Towers Of Dover Inc spend its money?
Luther Towers Of Dover Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Luther Towers Of Dover Inc tax-deductible?
Luther Towers Of Dover Inc is registered as a tax-exempt nonprofit (EIN: 222458263). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Luther Towers Of Dover Inc's spending goes to programs?
Luther Towers Of Dover Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Luther Towers Of Dover Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Luther Towers Of Dover Inc is above average for NTEE category L22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Luther Towers Of Dover Inc located?
Luther Towers Of Dover Inc is headquartered in Dover, Delaware and files with the IRS under EIN 222458263. It is classified under NTEE code L22Z.
How many years of IRS 990 filings does Luther Towers Of Dover Inc have?
Luther Towers Of Dover 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 $790K in total revenue.
What does Luther Towers Of Dover Inc do?
Luther Towers Of Dover Inc is a nonprofit organization in the Housing & Shelter sector, located in Dover, Delaware. It is classified under NTEE code L22Z.
How much revenue does Luther Towers Of Dover Inc have?
Luther Towers Of Dover Inc reported total revenue of $789,948. Based on 13 IRS 990 filings on record.
What are Luther Towers Of Dover Inc's total assets?
Luther Towers Of Dover Inc holds total assets of $1,434,606 as reported in IRS 990 filings.
Where is Luther Towers Of Dover Inc located?
Luther Towers Of Dover Inc is based in Dover, Delaware.
What is Luther Towers Of Dover Inc's EIN?
Luther Towers Of Dover Inc's Employer Identification Number (EIN) is 222458263. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Luther Towers Of Dover Inc?
Luther Towers Of Dover Inc is classified under NTEE code L22Z (Housing & Shelter).
Is Luther Towers Of Dover Inc a registered 501(c)(3)?
Yes, Luther Towers Of Dover Inc is recognized as a tax-exempt organization by the IRS. EIN: 222458263.
Does Luther Towers Of Dover Inc file IRS Form 990?
Yes, Luther Towers Of Dover Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Luther Towers Of Dover Inc's revenue in 2024?
In the 202406 filing period, Luther Towers Of Dover Inc reported total revenue of $766,966, total expenses of $536,263, and net assets of $1,435,782.
Is Luther Towers Of Dover Inc's revenue growing or declining?
Luther Towers Of Dover Inc's revenue is growing. Revenue went from $706,935 (202306) to $766,966 (202406), a +8.5% change. Based on 13 filings on record.
What is Luther Towers Of Dover Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Luther Towers Of Dover Inc covers tax period 202406. It shows revenue of $766,966, expenses of $536,263, total assets of $1,435,782, and liabilities of $364,533.
How much does Luther Towers Of Dover Inc spend on programs vs administration?
Based on IRS 990 analysis, Luther Towers Of Dover Inc allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Luther Towers Of Dover Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Luther Towers Of Dover Inc appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 3 strengths noted.
What are Luther Towers Of Dover Inc's strengths?
Positive indicators for Luther Towers Of Dover Inc include: Consistent revenue generation, with 2024 revenue at $766,966.. Strong asset growth and significant reduction in liabilities over the past five years.. Efficient expense management, with expenses ($536,263 in 2024) consistently lower than revenue.. These findings are derived from AI analysis of the organization's financial filings.
How does Luther Towers Of Dover Inc compensate executives?
Executive compensation information is not explicitly detailed in the provided data, preventing a specific assessment of individual salaries. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has Luther Towers Of Dover Inc managed to significantly reduce its liabilities while growing its assets?
The data shows a consistent trend of revenues exceeding expenses, allowing for both asset accumulation and debt reduction. For example, in 2024, revenue was $766,966 while expenses were $536,263, contributing to a healthier balance sheet.
What is the long-term financial stability outlook for Luther Towers Of Dover Inc given its historical performance?
Based on the provided data, the organization demonstrates strong long-term financial stability. It has consistently generated more revenue than expenses, grown its assets, and significantly reduced its liabilities over several years, suggesting prudent financial management and a sustainable operational model.
Filing History
IRS 990 filing history for Luther Towers Of Dover Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Luther Towers Of Dover Inc's revenue has grown by 35.3%, moving from $567K to $767K. Total assets increased by 1.9% over the same period, from $1.4M to $1.4M. Total functional expenses rose by 8.6%, from $494K to $536K. In its most recent filing year (2024), Luther Towers Of Dover Inc reported a surplus of $231K, with revenue exceeding expenses. The organization holds $365K in liabilities against $1.4M in assets (debt-to-asset ratio: 25.4%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $767K | $536K | $1.4M | $365K | — | View 990 |
| 2023 | $707K | $551K | $1.3M | $444K | — | — |
| 2022 | $685K | $529K | $1.3M | $599K | — | View 990 |
| 2021 | $676K | $508K | $1.2M | $711K | — | — |
| 2020 | $645K | $490K | $1.2M | $863K | — | View 990 |
| 2019 | $557K | $474K | $1.1M | $936K | — | View 990 |
| 2018 | $418K | $480K | $1.2M | $1.0M | — | View 990 |
| 2017 | $600K | $450K | $1.3M | $1.1M | — | View 990 |
| 2016 | $589K | $476K | $1.2M | $1.2M | — | View 990 |
| 2015 | $508K | $490K | $1.2M | $1.3M | — | View 990 |
| 2014 | $517K | $486K | $1.2M | $1.3M | — | View 990 |
| 2013 | $462K | $501K | $1.3M | $1.4M | — | View 990 |
| 2012 | $567K | $494K | $1.4M | $1.5M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $767K, expenses of $536K, and assets of $1.4M (revenue +8.5% year-over-year).
- 2023: Revenue of $707K, expenses of $551K, and assets of $1.3M (revenue +3.3% year-over-year).
- 2022: Revenue of $685K, expenses of $529K, and assets of $1.3M (revenue +1.3% year-over-year).
- 2021: Revenue of $676K, expenses of $508K, and assets of $1.2M (revenue +4.8% year-over-year).
- 2020: Revenue of $645K, expenses of $490K, and assets of $1.2M (revenue +15.8% year-over-year).
- 2019: Revenue of $557K, expenses of $474K, and assets of $1.1M (revenue +33.4% year-over-year).
- 2018: Revenue of $418K, expenses of $480K, and assets of $1.2M (revenue -30.4% year-over-year).
- 2017: Revenue of $600K, expenses of $450K, and assets of $1.3M (revenue +2.0% year-over-year).
- 2016: Revenue of $589K, expenses of $476K, and assets of $1.2M (revenue +15.8% year-over-year).
- 2015: Revenue of $508K, expenses of $490K, and assets of $1.2M (revenue -1.8% year-over-year).
- 2014: Revenue of $517K, expenses of $486K, and assets of $1.2M (revenue +12.0% year-over-year).
- 2013: Revenue of $462K, expenses of $501K, and assets of $1.3M (revenue -18.6% year-over-year).
- 2012: Revenue of $567K, expenses of $494K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Luther Towers Of Dover Inc:
Data Sources and Methodology
This transparency report for Luther Towers Of Dover 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.