THE LUTHERAN HOME ASSOCIATION
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$25,298,406
Program Services
88%
Investments
9%
Contributions
3%
Other
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$23,540,821
Salaries & Benefits
59%
Fees to Service Providers
14%
Offices, Occupancy & IT
12%
Other
8%
Depreciation
5%
Interest
3%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$710,167
$672,511
-5%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$20,348,598
$22,264,265
+9%
Membership Dues
$0
$0
-
Investments
$6,775,412
$2,301,547
-66%
Other
$113,555
$60,083
-47%
Total Revenues
$27,947,732
$25,298,406
-9%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$9,890,130
$13,810,928
+40%
Fees to Service Providers
$4,760,731
$3,222,009
-32%
Advertising & Promotion
$67,318
$56,465
-16%
Offices, Occupancy & IT
$2,836,048
$2,717,567
-4%
Interest
$825,279
$772,219
-6%
Depreciation
$1,405,676
$1,136,585
-19%
Other
$1,796,399
$1,825,048
+2%
Total Expenses
$21,581,581
$23,540,821
+9%
Net income
2023
2024
Change
Net income
+$6,366,151
+$1,757,585
-72%
Functional Expenses
Summary
2023
2024
Change
Program
$15,799,423
$17,840,523
+13%
Admin
$5,782,158
$5,700,298
-1%
Fundraising
$0
$0
-
Total Expenses
$21,581,581
$23,540,821
+9%
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