Lutheran Housing Development Fund Corporation
Lutheran Housing Development Fund Corporation maintains stable operations with decreasing liabilities but persistent negative net assets.
EIN: 112574183 · Scarsdale, NY · NTEE: L22Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.5M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.5 |
| Net Assets | $-1,435,663 |
| Transparency Score | 85/100 |
Is Lutheran Housing Development Fund Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lutheran Housing Development Fund Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lutheran Housing Development Fund Corporation
Lutheran Housing Development Fund Corporation (EIN: 112574183) is a nonprofit organization based in Scarsdale, NY, classified under NTEE code L22Z. The organization reported total revenue of $1.8M and total assets of $2.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lutheran Housing Development Fund Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lutheran Housing Development Fund Corporation is a mid-size nonprofit that has been operating for 45 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.5M |
| Surplus / Deficit | +$185K |
| Total Assets | $2.9M |
| Total Liabilities | $4.3M |
| Net Assets | $-1,435,663 |
| Operating Margin | 11.1% |
| Debt-to-Asset Ratio | 150.0% |
| Months of Reserves | 23.1 months |
Financial Health Grade: A
In 2023, Lutheran Housing Development Fund Corporation reported a surplus of $185K with revenue exceeding expenses, holds 23.1 months of operating reserves (strong position), has a debt-to-asset ratio of 150.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lutheran Housing Development Fund Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.7% | -0.9% | +0.2% |
| 2022 | -2.1% | -0.6% | -1.9% |
| 2021 | +6.6% | -12.2% | +0.3% |
| 2020 | +1.8% | +14.6% | -6.9% |
| 2019 | +0.6% | -0.9% | -1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1981 |
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 Housing Development Fund Corporation 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Lutheran Housing Development Fund Corporation 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 surplus of $185K, with revenue exceeding expenses.
- Debt-to-asset ratio: 150.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no compensation was paid to officers, directors, or trustees, which is highly commendable for an organization of its size with revenues consistently above $1.5 million.
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 Housing Development Fund Corporation's IRS 990 filings:
- Consistent negative net assets (liabilities exceed assets)
Strengths
The following positive indicators were identified for Lutheran Housing Development Fund Corporation:
- Consistent revenue generation exceeding expenses in most recent years
- 0% officer compensation reported across all filings, indicating high efficiency and mission focus
- Significant reduction in total liabilities over the past decade (from $5.6M in 2014 to $4.3M in 2023)
- Stable asset base around $2.8-$3.5 million
Frequently Asked Questions about Lutheran Housing Development Fund Corporation
Is Lutheran Housing Development Fund Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Lutheran Housing Development Fund Corporation (EIN: 112574183) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Lutheran Housing Development Fund Corporation spend its money?
Lutheran Housing Development Fund Corporation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lutheran Housing Development Fund Corporation tax-deductible?
Lutheran Housing Development Fund Corporation is registered as a tax-exempt nonprofit (EIN: 112574183). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Lutheran Housing Development Fund Corporation CEO make?
Lutheran Housing Development Fund Corporation's highest-compensated officer earns $1.5 annually. The organization reported $1.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Lutheran Housing Development Fund Corporation's spending goes to programs?
Lutheran Housing Development Fund Corporation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lutheran Housing Development Fund Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Lutheran Housing Development Fund Corporation 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 Lutheran Housing Development Fund Corporation located?
Lutheran Housing Development Fund Corporation is headquartered in Scarsdale, New York and files with the IRS under EIN 112574183. It is classified under NTEE code L22Z.
How many years of IRS 990 filings does Lutheran Housing Development Fund Corporation have?
Lutheran Housing Development Fund Corporation 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 $1.8M in total revenue.
Is Lutheran Housing Development Fund Corporation a good charity?
Based on the available data, the organization demonstrates strong financial management with revenues consistently covering expenses and a commendable 0% officer compensation. While it carries significant liabilities exceeding assets, which is common for housing development entities, its operational efficiency and transparency suggest it is a well-managed organization focused on its mission.
What is the trend in the organization's net assets?
The organization consistently has negative net assets, as liabilities ($4,306,127 in 2023) exceed assets ($2,870,464 in 2023). However, there's a positive trend in reducing liabilities, which have decreased from $5,635,736 in 2014 to $4,306,127 in 2023.
How does the organization manage its debt?
While specific debt management strategies are not detailed in the provided data, the consistent reduction in liabilities over the past decade, from $5.6 million in 2014 to $4.3 million in 2023, suggests active and effective debt management.
Filing History
IRS 990 filing history for Lutheran Housing Development Fund Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lutheran Housing Development Fund Corporation's revenue has grown by 17%, moving from $1.4M to $1.7M. Total assets decreased by 27.4% over the same period, from $4.0M to $2.9M. Total functional expenses rose by 12.3%, from $1.3M to $1.5M. In its most recent filing year (2023), Lutheran Housing Development Fund Corporation reported a surplus of $185K, with revenue exceeding expenses. The organization holds $4.3M in liabilities against $2.9M in assets (debt-to-asset ratio: 150.0%), resulting in net assets of $-1,435,663.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.5M | $2.9M | $4.3M | — | — |
| 2022 | $1.6M | $1.5M | $2.9M | $4.5M | — | View 990 |
| 2021 | $1.7M | $1.5M | $2.9M | $4.7M | — | View 990 |
| 2020 | $1.6M | $1.7M | $2.9M | $4.8M | — | View 990 |
| 2019 | $1.5M | $1.5M | $3.1M | $4.9M | — | View 990 |
| 2018 | $1.5M | $1.5M | $3.2M | $5.0M | — | View 990 |
| 2017 | $1.5M | $1.5M | $3.2M | $5.1M | — | View 990 |
| 2016 | $1.5M | $1.5M | $3.3M | $5.2M | — | View 990 |
| 2015 | $1.5M | $1.4M | $3.6M | $5.5M | — | View 990 |
| 2014 | $1.5M | $1.3M | $3.6M | $5.6M | — | View 990 |
| 2013 | $1.5M | $1.3M | $3.5M | $5.8M | — | View 990 |
| 2012 | $1.4M | $1.9M | $4.0M | $6.4M | — | View 990 |
| 2011 | $1.4M | $1.3M | $4.0M | $5.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.5M, and assets of $2.9M (revenue +1.7% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.5M, and assets of $2.9M (revenue -2.1% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.5M, and assets of $2.9M (revenue +6.6% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.7M, and assets of $2.9M (revenue +1.8% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.5M, and assets of $3.1M (revenue +0.6% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.5M, and assets of $3.2M (revenue +0.3% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.5M, and assets of $3.2M (revenue +1.4% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.5M, and assets of $3.3M (revenue +1.2% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.4M, and assets of $3.6M (revenue +1.0% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.3M, and assets of $3.6M (revenue +1.5% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.3M, and assets of $3.5M (revenue +1.5% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.9M, and assets of $4.0M (revenue +0.5% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.3M, and assets of $4.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lutheran Housing Development Fund Corporation:
Data Sources and Methodology
This transparency report for Lutheran Housing Development Fund Corporation 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.