LUTHER TERRACE INC Charity Report

Public IRS 990 nonprofit record

LUTHER TERRACE INC

EIN 58-1567594 · Senior Citizens Housing & Retirement Communities (L22)

What they do

LUTHER TERRACE, INC. is A NOT-FOR-PROFIT GENERAL WELFARE CORPORATION FORMED IN MAY 1978, IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES of THE STATE of TENNESSEE. THE CORPORATION WAS FORMED for THE PURPOSE of OPERATING A 40 UNIT COMMUNITY LOCATED IN MEMPHIS, TENNESSEE KNOWN AS LUTHER TERRACE, WHICH PROVIDES HOUSING and RELATED SERVICES for VERY LOW and EXTREMELY LOW INCOME ELDERLY PERSONS PURSUANT to SECTION 202 of THE NATIONAL HOUSING ACT, AS AMENDED.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $83.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders11 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

81.68%of revenue went to mission work83.2% of expenses · Program services

$98.18spent for every $100 of revenueRevenue covered expenses this year.

16.50%of revenue went to management and office costs16.8% of expenses

$1.56in assets for every $1 spent this yearSome assets cannot be spent right away.

69.0%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$524,580

Mission workProgram services$428,48181.68% of revenue83.2% of expenses

ManagementOffice and general costs$86,55516.50% of revenue16.8% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$9,5441.82% of revenueShown in gray on the chart

Total expenses$515,03698.18% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 83.2% mission · 16.8% management · 0.0% fundraisingTotal expenses: 98.18% of revenue

2023Expense mix: 82.7% mission · 17.3% management · 0.0% fundraisingTotal expenses: 100.94% of revenue

2022Expense mix: 82.3% mission · 17.7% management · 0.0% fundraisingTotal expenses: 95.60% of revenue

2021Expense mix: 83.4% mission · 16.6% management · 0.0% fundraisingTotal expenses: 102.27% of revenue

2020Expense mix: 83.2% mission · 16.8% management · 0.0% fundraisingTotal expenses: 98.04% of revenue

2019Expense mix: 83.2% mission · 16.8% management · 0.0% fundraisingTotal expenses: 96.67% of revenue

2018Expense mix: 86.0% mission · 14.0% management · 0.0% fundraisingTotal expenses: 98.42% of revenue

2017Expense mix: 85.6% mission · 14.4% management · 0.0% fundraisingTotal expenses: 98.31% of revenue

Money in and money out

Revenue$524,580

Expenses$515,036

Annual surplus $9,544 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$428,481 · 83.2% of expenses

Management and office costs$86,555 · 16.8% of expenses

See all reported dollar amounts

Revenue$524,580

Expenses$515,036

Assets$801,752

Income$524,580

Contributions$361,941

Mission work (program services)$428,481

Management and general$86,555

Accounting fees$12,046

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (11)

AMANDA L WARDCHAIRPERSON

BRIAN HARRISNON-VOTING CEO

CAROL AVENSMEMBER

DONALD OLLIONON-VOTING CFO

DWIGHT DAVISMEMBER

HOLLY MITCHENERMEMBER

JENNIFER NORRISVICE CHAIRPERSON

MARY LOU CUSHINGSECRETARY/TREASURER

MEREDITH BINGHAMMEMBER

PHYLLIS GAYMEMBER

RONALD BUDYNASNON-VOTING COO

About this charity

Recognized since: January 1985
Location: 1615 APPLING ROAD, CORDOVA, TN 38016
County: Shelby
In care of: DON OLLIO
Primary officer: DON OLLIO, CFO

How to reach them

WebsiteVisit the charity’s website Phone(901) 380-4900

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: DAUBY OCONNOR & ZALESKI LLC
NTEE classification: Senior Citizens Housing & Retirement Communities (L22)
IRS tax category: Senior Citizens Housing & Retirement Communities