Lutheran Home Hickory Inc
Lutheran Home Hickory Inc. maintains stable finances with consistent revenue and no reported officer compensation.
EIN: 201457341 · Salisbury, NC · Updated: 2026-03-28
Is Lutheran Home Hickory 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 Hickory Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lutheran Home Hickory Inc
Lutheran Home Hickory Inc (EIN: 201457341) is a nonprofit organization based in Salisbury, NC. The organization reported total revenue of $18.4M and total assets of $10.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lutheran Home Hickory Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lutheran Home Hickory 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 2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $17.8M |
| Total Expenses | $18.5M |
| Surplus / Deficit | $-623,014 |
| Total Assets | $10.7M |
| Total Liabilities | $1.0M |
| Net Assets | $9.7M |
| Operating Margin | -3.5% |
| Debt-to-Asset Ratio | 9.4% |
| Months of Reserves | 6.9 months |
Financial Health Grade: B
In 2023, Lutheran Home Hickory Inc reported a deficit of $623K with expenses exceeding revenue, holds 6.9 months of operating reserves (strong position), has a debt-to-asset ratio of 9.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lutheran Home Hickory Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.0% | +10.3% | -3.0% |
| 2022 | +19.8% | +6.0% | +23.0% |
| 2021 | +7.6% | +6.8% | -4.2% |
| 2020 | +5.2% | +5.2% | +6.2% |
| 2019 | +2.4% | +0.1% | +1.7% |
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 Hickory Inc with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Lutheran Home Hickory Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $623K, with expenses exceeding revenue.
- Debt-to-asset ratio: 9.4%.
Executive Compensation Analysis
The organization consistently reports 0% for officer compensation across all available filings, indicating that no compensation is paid to officers, which is an exceptional level of financial efficiency and transparency for a nonprofit of its size.
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 Hickory Inc's IRS 990 filings:
- Expenses slightly exceeded revenue in the most recent 202309 filing, a trend to monitor.
Strengths
The following positive indicators were identified for Lutheran Home Hickory Inc:
- Consistent reporting of 0% officer compensation across all filings.
- Generally stable financial performance with revenues typically exceeding expenses.
- Significant growth in assets over the past decade, from $8.2M to $10.6M.
- Low liabilities relative to assets, indicating a strong balance sheet.
Frequently Asked Questions about Lutheran Home Hickory Inc
Is Lutheran Home Hickory Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lutheran Home Hickory Inc (EIN: 201457341) some concerns. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
How does Lutheran Home Hickory Inc spend its money?
Lutheran Home Hickory Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lutheran Home Hickory Inc tax-deductible?
Lutheran Home Hickory Inc is registered as a tax-exempt nonprofit (EIN: 201457341). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Lutheran Home Hickory Inc. financially stable?
Yes, the organization generally appears financially stable, with revenues largely covering expenses over the past decade. While the 202309 filing showed a slight deficit, previous years like 202209 demonstrated a healthy surplus of over $2.4 million.
How does Lutheran Home Hickory Inc. manage executive compensation?
Lutheran Home Hickory Inc. reports 0% for officer compensation in all available filings, indicating that no compensation is paid to its officers, which is a strong positive for resource allocation.
Has the organization's asset base grown over time?
Yes, the organization's assets have shown consistent growth, increasing from $8,258,867 in 201409 to $10,687,431 in 202309, demonstrating financial health and capacity.
Filing History
IRS 990 filing history for Lutheran Home Hickory Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lutheran Home Hickory Inc's revenue has grown by 37.4%, moving from $13.0M to $17.8M. Total assets increased by 73.9% over the same period, from $6.1M to $10.7M. Total functional expenses rose by 58.3%, from $11.7M to $18.5M. In its most recent filing year (2023), Lutheran Home Hickory Inc reported a deficit of $623K, with expenses exceeding revenue. The organization holds $1.0M in liabilities against $10.7M in assets (debt-to-asset ratio: 9.4%), resulting in net assets of $9.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $17.8M | $18.5M | $10.7M | $1.0M | — | View 990 |
| 2022 | $19.2M | $16.7M | $11.0M | $896K | — | View 990 |
| 2021 | $16.0M | $15.8M | $9.0M | $810K | — | View 990 |
| 2020 | $14.9M | $14.8M | $9.4M | $1.7M | — | — |
| 2019 | $14.2M | $14.1M | $8.8M | $1.3M | — | View 990 |
| 2018 | $13.8M | $14.1M | $8.7M | $1.3M | — | View 990 |
| 2017 | $14.1M | $13.9M | $8.8M | $1.3M | — | View 990 |
| 2016 | $12.9M | $13.1M | $8.5M | $1.3M | — | View 990 |
| 2015 | $13.1M | $12.8M | $8.6M | $1.2M | — | View 990 |
| 2014 | $12.9M | $12.5M | $8.3M | $1.1M | — | View 990 |
| 2013 | $13.4M | $12.7M | $7.9M | $1.1M | — | View 990 |
| 2012 | $13.6M | $12.9M | $7.0M | $951K | — | View 990 |
| 2011 | $13.0M | $11.7M | $6.1M | $836K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $17.8M, expenses of $18.5M, and assets of $10.7M (revenue -7.0% year-over-year).
- 2022: Revenue of $19.2M, expenses of $16.7M, and assets of $11.0M (revenue +19.8% year-over-year).
- 2021: Revenue of $16.0M, expenses of $15.8M, and assets of $9.0M (revenue +7.6% year-over-year).
- 2020: Revenue of $14.9M, expenses of $14.8M, and assets of $9.4M (revenue +5.2% year-over-year).
- 2019: Revenue of $14.2M, expenses of $14.1M, and assets of $8.8M (revenue +2.4% year-over-year).
- 2018: Revenue of $13.8M, expenses of $14.1M, and assets of $8.7M (revenue -1.6% year-over-year).
- 2017: Revenue of $14.1M, expenses of $13.9M, and assets of $8.8M (revenue +8.8% year-over-year).
- 2016: Revenue of $12.9M, expenses of $13.1M, and assets of $8.5M (revenue -1.5% year-over-year).
- 2015: Revenue of $13.1M, expenses of $12.8M, and assets of $8.6M (revenue +2.0% year-over-year).
- 2014: Revenue of $12.9M, expenses of $12.5M, and assets of $8.3M (revenue -3.9% year-over-year).
- 2013: Revenue of $13.4M, expenses of $12.7M, and assets of $7.9M (revenue -1.8% year-over-year).
- 2012: Revenue of $13.6M, expenses of $12.9M, and assets of $7.0M (revenue +4.9% year-over-year).
- 2011: Revenue of $13.0M, expenses of $11.7M, and assets of $6.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lutheran Home Hickory Inc:
Data Sources and Methodology
This transparency report for Lutheran Home Hickory 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.