Lutheran Home Albemarle Inc
Lutheran Home Albemarle Inc. shows consistent asset growth despite recent operating deficits.
EIN: 201457298 · Salisbury, NC · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.7M |
| Total Expenses | $10.0M |
| Program Spending | 85% |
| Net Assets | $5.9M |
| Transparency Score | 80/100 |
Is Lutheran Home Albemarle Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lutheran Home Albemarle Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lutheran Home Albemarle Inc
Lutheran Home Albemarle Inc (EIN: 201457298) is a nonprofit organization based in Salisbury, NC. The organization reported total revenue of $10.7M and total assets of $7.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lutheran Home Albemarle Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lutheran Home Albemarle Inc is a large nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $9.9M |
| Total Expenses | $10.0M |
| Surplus / Deficit | $-148,136 |
| Total Assets | $6.6M |
| Total Liabilities | $725K |
| Net Assets | $5.9M |
| Operating Margin | -1.5% |
| Debt-to-Asset Ratio | 10.9% |
| Months of Reserves | 7.9 months |
Financial Health Grade: B
In 2023, Lutheran Home Albemarle Inc reported a deficit of $148K with expenses exceeding revenue, holds 7.9 months of operating reserves (strong position), has a debt-to-asset ratio of 10.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lutheran Home Albemarle Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -12.0% | +8.7% | +0.5% |
| 2022 | +23.0% | +4.4% | +29.7% |
| 2021 | +6.0% | +8.4% | +10.6% |
| 2020 | +18.6% | +8.7% | +17.6% |
| 2019 | +4.2% | +5.5% | -4.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1988 |
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 Lutheran Home Albemarle Inc with a Mission Score of 80 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: 85%
- fundraising: 5%
According to IRS 990 filings, Lutheran Home Albemarle Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $148K, with expenses exceeding revenue.
- Debt-to-asset ratio: 10.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation in its IRS 990 filings, which suggests either that no officers receive compensation or that compensation is reported under different categories, requiring further scrutiny for a complete understanding of executive pay practices.
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 Lutheran Home Albemarle Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which may obscure actual executive pay if reported elsewhere.
- Operating deficit in the latest filing (202309) where expenses ($10,043,054) exceeded revenue ($9,894,918).
Strengths
The following positive indicators were identified for Lutheran Home Albemarle Inc:
- Consistent growth in assets, from $4,152,177 in 201409 to $6,634,706 in 202309, indicating strong financial management.
- Significant operating surplus in 202209 ($11,242,513 revenue vs. $9,236,425 expenses).
- Long history of IRS 990 filings (13 filings), suggesting transparency and compliance.
Frequently Asked Questions about Lutheran Home Albemarle Inc
Is Lutheran Home Albemarle Inc a legitimate charity?
Lutheran Home Albemarle Inc (EIN: 201457298) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 80/100. It has 13 years of IRS 990 filings on record. Total revenue: $10.7M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Lutheran Home Albemarle Inc spend its money?
Lutheran Home Albemarle Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Lutheran Home Albemarle Inc tax-deductible?
Lutheran Home Albemarle Inc is registered as a tax-exempt nonprofit (EIN: 201457298). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lutheran Home Albemarle Inc's spending goes to programs?
Lutheran Home Albemarle Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Lutheran Home Albemarle Inc located?
Lutheran Home Albemarle Inc is headquartered in Salisbury, North Carolina and files with the IRS under EIN 201457298.
How many years of IRS 990 filings does Lutheran Home Albemarle Inc have?
Lutheran Home Albemarle 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 $10.7M in total revenue.
Is Lutheran Home Albemarle Inc. financially stable?
Yes, despite a slight operating deficit in 202309, the organization has demonstrated consistent asset growth from $4,152,177 in 201409 to $6,634,706 in 202309, indicating overall financial stability.
What caused the operating deficit in 202309?
In 202309, expenses ($10,043,054) slightly exceeded revenue ($9,894,918), resulting in a deficit. The specific reasons for this would require a deeper dive into the organization's detailed financial statements.
How does Lutheran Home Albemarle Inc. manage executive compensation?
All available IRS 990 filings consistently report 0% officer compensation. This is unusual for an organization of this size and suggests that executive compensation may be reported in other expense categories or that officers are uncompensated, which would require further clarification.
Filing History
IRS 990 filing history for Lutheran Home Albemarle Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lutheran Home Albemarle Inc's revenue has grown by 36.4%, moving from $7.3M to $9.9M. Total assets increased by 56.6% over the same period, from $4.2M to $6.6M. Total functional expenses rose by 50.2%, from $6.7M to $10.0M. In its most recent filing year (2023), Lutheran Home Albemarle Inc reported a deficit of $148K, with expenses exceeding revenue. The organization holds $725K in liabilities against $6.6M in assets (debt-to-asset ratio: 10.9%), resulting in net assets of $5.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $9.9M | $10.0M | $6.6M | $725K | — | View 990 |
| 2022 | $11.2M | $9.2M | $6.6M | $633K | — | View 990 |
| 2021 | $9.1M | $8.8M | $5.1M | $885K | — | View 990 |
| 2020 | $8.6M | $8.2M | $4.6M | $816K | — | — |
| 2019 | $7.3M | $7.5M | $3.9M | $636K | — | View 990 |
| 2018 | $7.0M | $7.1M | $4.1M | $582K | — | View 990 |
| 2017 | $7.1M | $7.1M | $4.2M | $582K | — | View 990 |
| 2016 | $6.8M | $7.1M | $4.2M | $642K | — | View 990 |
| 2015 | $7.0M | $6.8M | $4.3M | $599K | — | View 990 |
| 2014 | $6.7M | $6.7M | $4.2M | $498K | — | View 990 |
| 2013 | $6.6M | $6.7M | $4.1M | $533K | — | View 990 |
| 2012 | $6.6M | $6.9M | $4.0M | $422K | — | View 990 |
| 2011 | $7.3M | $6.7M | $4.2M | $419K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $9.9M, expenses of $10.0M, and assets of $6.6M (revenue -12.0% year-over-year).
- 2022: Revenue of $11.2M, expenses of $9.2M, and assets of $6.6M (revenue +23.0% year-over-year).
- 2021: Revenue of $9.1M, expenses of $8.8M, and assets of $5.1M (revenue +6.0% year-over-year).
- 2020: Revenue of $8.6M, expenses of $8.2M, and assets of $4.6M (revenue +18.6% year-over-year).
- 2019: Revenue of $7.3M, expenses of $7.5M, and assets of $3.9M (revenue +4.2% year-over-year).
- 2018: Revenue of $7.0M, expenses of $7.1M, and assets of $4.1M (revenue -1.4% year-over-year).
- 2017: Revenue of $7.1M, expenses of $7.1M, and assets of $4.2M (revenue +4.1% year-over-year).
- 2016: Revenue of $6.8M, expenses of $7.1M, and assets of $4.2M (revenue -2.5% year-over-year).
- 2015: Revenue of $7.0M, expenses of $6.8M, and assets of $4.3M (revenue +3.4% year-over-year).
- 2014: Revenue of $6.7M, expenses of $6.7M, and assets of $4.2M (revenue +1.6% year-over-year).
- 2013: Revenue of $6.6M, expenses of $6.7M, and assets of $4.1M (revenue +0.0% year-over-year).
- 2012: Revenue of $6.6M, expenses of $6.9M, and assets of $4.0M (revenue -8.4% year-over-year).
- 2011: Revenue of $7.3M, expenses of $6.7M, and assets of $4.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lutheran Home Albemarle Inc:
Data Sources and Methodology
This transparency report for Lutheran Home Albemarle 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.