Lutheran Home Albemarle Property
Lutheran Home Albemarle Property faces consistent operating deficits despite substantial assets and no reported officer compensation.
EIN: 201457273 · Salisbury, NC · Updated: 2026-03-28
Is Lutheran Home Albemarle Property 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 Property directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Lutheran Home Albemarle Property
Lutheran Home Albemarle Property (EIN: 201457273) is a nonprofit organization based in Salisbury, NC. The organization reported total revenue of $414K and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lutheran Home Albemarle Property's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lutheran Home Albemarle Property is a small 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 5.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $410K |
| Total Expenses | $695K |
| Surplus / Deficit | $-285,071 |
| Total Assets | $7.8M |
| Total Liabilities | $3.9M |
| Net Assets | $3.8M |
| Operating Margin | -69.6% |
| Debt-to-Asset Ratio | 50.6% |
| Months of Reserves | 134.2 months |
Financial Health Grade: C
In 2023, Lutheran Home Albemarle Property reported a deficit of $285K with expenses exceeding revenue, holds 134.2 months of operating reserves (strong position), has a debt-to-asset ratio of 50.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lutheran Home Albemarle Property's revenue has grown at a compound annual growth rate (CAGR) of 5.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.2% | -0.9% | -2.6% |
| 2022 | -25.1% | +25.5% | -6.5% |
| 2021 | +24.6% | +94.7% | +0.2% |
| 2020 | +91.2% | +56.8% | +77.0% |
| 2019 | +0.8% | -8.2% | +54.6% |
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 Property 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Lutheran Home Albemarle Property allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $285K, with expenses exceeding revenue.
- Debt-to-asset ratio: 50.6%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that officers are either uncompensated or compensated through non-officer categories, which is a positive sign for resource allocation given the organization's size and 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 Lutheran Home Albemarle Property's IRS 990 filings:
- Consistent operating deficits: Expenses have significantly outpaced revenue in recent years (e.g., 2023 expenses $694,743 vs. revenue $409,672).
- Rapid increase in liabilities: Liabilities grew from $566,973 in 2019 to $3,931,626 in 2023, indicating growing financial obligations.
- Lack of NTEE code: The 'Unknown' NTEE code makes it difficult to assess the organization's specific purpose and compare its financial health to similar nonprofits.
Strengths
The following positive indicators were identified for Lutheran Home Albemarle Property:
- Substantial asset base: The organization maintains significant assets, reaching $7,768,428 in 2023, providing a financial cushion.
- No reported officer compensation: Consistently reporting 0% officer compensation across all filings indicates efficient use of funds at the executive level.
- Long filing history: 13 years of IRS 990 filings demonstrate a commitment to transparency and regulatory compliance.
Frequently Asked Questions about Lutheran Home Albemarle Property
Is Lutheran Home Albemarle Property a legitimate charity?
Based on AI analysis of IRS 990 filings, Lutheran Home Albemarle Property (EIN: 201457273) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Lutheran Home Albemarle Property spend its money?
Lutheran Home Albemarle Property directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lutheran Home Albemarle Property tax-deductible?
Lutheran Home Albemarle Property is registered as a tax-exempt nonprofit (EIN: 201457273). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the primary cause of the consistent operating deficits observed in recent years?
The filings show expenses significantly exceeding revenue in 2023 ($694,743 vs $409,672) and 2022 ($701,083 vs $410,330). Understanding the nature of these expenses is crucial.
How does the organization plan to address the increasing liabilities, which grew from $566,973 in 2019 to $3,931,626 in 2023?
The substantial increase in liabilities suggests significant financial obligations that need to be managed to ensure long-term stability.
What is the specific mission and program activities of Lutheran Home Albemarle Property, given the 'Unknown' NTEE code?
Without a clear NTEE code, it's difficult to benchmark its financial performance against peers or understand the impact of its spending.
Filing History
IRS 990 filing history for Lutheran Home Albemarle Property showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lutheran Home Albemarle Property's revenue has grown by 94.6%, moving from $211K to $410K. Total assets increased by 398.3% over the same period, from $1.6M to $7.8M. Total functional expenses rose by 464.1%, from $123K to $695K. In its most recent filing year (2023), Lutheran Home Albemarle Property reported a deficit of $285K, with expenses exceeding revenue. The organization holds $3.9M in liabilities against $7.8M in assets (debt-to-asset ratio: 50.6%), resulting in net assets of $3.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $410K | $695K | $7.8M | $3.9M | — | — |
| 2022 | $410K | $701K | $8.0M | $3.9M | — | View 990 |
| 2021 | $548K | $558K | $8.5M | $4.0M | — | View 990 |
| 2020 | $440K | $287K | $8.5M | $4.1M | — | — |
| 2019 | $230K | $183K | $4.8M | $567K | — | View 990 |
| 2018 | $228K | $199K | $3.1M | $418K | — | View 990 |
| 2017 | $218K | $200K | $3.1M | $474K | — | View 990 |
| 2016 | $976K | $169K | $3.0M | $441K | — | View 990 |
| 2015 | $222K | $169K | $2.2M | $442K | — | View 990 |
| 2014 | $219K | $164K | $2.2M | $478K | — | View 990 |
| 2013 | $210K | $132K | $2.0M | $335K | — | View 990 |
| 2012 | $211K | $135K | $1.6M | $11K | — | View 990 |
| 2011 | $211K | $123K | $1.6M | $51K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $410K, expenses of $695K, and assets of $7.8M (revenue -0.2% year-over-year).
- 2022: Revenue of $410K, expenses of $701K, and assets of $8.0M (revenue -25.1% year-over-year).
- 2021: Revenue of $548K, expenses of $558K, and assets of $8.5M (revenue +24.6% year-over-year).
- 2020: Revenue of $440K, expenses of $287K, and assets of $8.5M (revenue +91.2% year-over-year).
- 2019: Revenue of $230K, expenses of $183K, and assets of $4.8M (revenue +0.8% year-over-year).
- 2018: Revenue of $228K, expenses of $199K, and assets of $3.1M (revenue +4.6% year-over-year).
- 2017: Revenue of $218K, expenses of $200K, and assets of $3.1M (revenue -77.6% year-over-year).
- 2016: Revenue of $976K, expenses of $169K, and assets of $3.0M (revenue +340.4% year-over-year).
- 2015: Revenue of $222K, expenses of $169K, and assets of $2.2M (revenue +1.1% year-over-year).
- 2014: Revenue of $219K, expenses of $164K, and assets of $2.2M (revenue +4.2% year-over-year).
- 2013: Revenue of $210K, expenses of $132K, and assets of $2.0M (revenue -0.1% year-over-year).
- 2012: Revenue of $211K, expenses of $135K, and assets of $1.6M (revenue +0.0% year-over-year).
- 2011: Revenue of $211K, expenses of $123K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lutheran Home Albemarle Property:
Data Sources and Methodology
This transparency report for Lutheran Home Albemarle Property 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.