Luther Square INC FY2024 filing

Not tax-deductible

Klamath Falls, OR501(c)(4)EIN 93-0588743Revenue $318K in FY2024

On file with the IRS2314 Homedale Rd, 97603-6860 · Klamath Falls, ORTax-exempt since Mar 1971

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Low-income housing for the elderly

90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average deficit $3K a year · 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 14.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$16K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$318K
+8% vs prior year
Spent
$312K
To programs
90%
Net assets
$592K
By yearFY2020–FY2025
Revenue
$318K
FY2024▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$273K
FY2021$277K
FY2022$290K
FY2023$294K
FY2024$318K
FY2025$332K
Expenses
$312K
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$249K
FY2021$276K
FY2022$256K
FY2023$297K
FY2024$312K
FY2025$413K
Net assets
$592K
FY2024▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$555K
FY2021$555K
FY2022$589K
FY2023$585K
FY2024$592K
FY2025$511K

From the FY2024 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1971.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $281K Management & general 10% · $31K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Luther Square INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable housing for seniors in need.

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1 program · $281K · in their own filed words · FY2024
01

Operation of a 30 unit apartment complex for the low-incomeelderly. The HUD regulated project is a Section 8 additionalassistance program for projects with HUD insured mortgages.

$281Kprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$318K
Ln 12
Fees for servicesLn 2g$317K
Investment incomeLn 3$1K
Other incomeLn 4–11$250
Money outPt IX
$312K
Ln 25
Programscol B$281K
Managementcol C$31K
Owns and owesPt X
$592K
net assets · Ln 32
Cash and savingsLn 1–2$373K
Total assetsLn 16$608K
LiabilitiesLn 26$16K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$317K
Investment incomeLn 3$1K
Other incomeLn 4–11$250
Gains on assetsLn 7$0
Total revenueLn 12$318K
Assets in detailPt X, end of year
CashLn 1$39K
SavingsLn 2$334K
Cash and savings togetherLn 1–2$373K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$226K
Other assetsLn 15$0
Total assetsLn 16$608K
LiabilitiesLn 26$16K
Net assetsLn 32$592K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$367K$373K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$208K$226K
Total assetsLn 16$602K$608K
LiabilitiesLn 26$16K$16K
Net assetsLn 32$585K$592K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$30K$27K$3K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$5K$5K$506
Management feesLn 11a$25K$22K$2K
Legal feesLn 11b$259$233$26
Accounting feesLn 11c$5K$4K$480
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$2K$2K$220
Office expensesLn 13$1K$968$107
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$59K$53K$6K
InsuranceLn 23$28K$25K$3K
Other expenses (24a–d)Ln 24$156K$140K$16K
All other expensesLn 24e$0
Total functional expensesLn 25$312K$281K$31K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $332K$413K−$81K$511K 990 PDF
FY2024 Viewing $318K$312K$7K$592K 990 PDF
FY2023 $294K$297K−$4K$585K 990 PDF
FY2022 $290K$256K$34K$589K 990 PDF
FY2021 $277K$276K$414$555K 990 PDF
FY2020 $273K$249K$25K$555K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $318,443 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $292,275$316,760
I-10 Investment incomePrior year $1,472$1,433
I-11 Other revenue$250
I-12 Total revenuePrior year $293,747$318,443
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $32,982$35,481
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $264,409$276,431
I-18 Total expensesPrior year $297,391$311,912
I-19 Revenue less expensesPrior year −$3,644$6,531
Part VI · Governance 0 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $318,443 across 9 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $316,760$316,760
VIII-3 Investment incomeRelated to mission $1,433$1,433
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $250$250
VIII-12 Total revenueRelated to mission $318,443$318,443
Part IX · Statement of functional expenses $311,912 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $27,377 · Management $3,042$30,419
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $4,556 · Management $506$5,062
IX-11a Management feesPrograms $22,098 · Management $2,455$24,553
IX-11b Legal feesPrograms $233 · Management $26$259
IX-11c Accounting feesPrograms $4,322 · Management $480$4,802
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionPrograms $1,977 · Management $220$2,197
IX-13 Office expensesPrograms $968 · Management $107$1,075
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $53,482 · Management $5,942$59,424
IX-23 InsurancePrograms $25,464 · Management $2,829$28,293
IX-24 Other expenses (24a–d)Programs $140,245 · Management $15,583$155,828
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $280,722 · Management $31,190 · Fundraising $0$311,912
Part X · Balance sheet $608,071 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $17,387$39,164
X-2 Savings and temporary cash investmentsStart of year $349,452$333,609
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $26,782$9,388
X-10c Land, buildings and equipment, netStart of year $208,051$225,910
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $601,672$608,071
X-17 Accounts payable and accrued expensesStart of year $7,780$7,853
X-25 Other liabilitiesStart of year $8,514$8,309
X-26 Total liabilitiesStart of year $16,294$16,162
X-27 Net assets without donor restrictionsStart of year $585,378$591,909
X-32 Total net assets or fund balancesStart of year $585,378$591,909
X-33 Total liabilities and net assetsStart of year $601,672$608,071
Part XI · Reconciliation of net assets $591,909 net assets at year end
XI-1 Total revenue$318,443
XI-2 Total expenses$311,912
XI-3 Revenue less expenses$6,531
XI-4 Net assets at start of year$585,378
XI-10 Net assets at end of year$591,909

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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