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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.
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.
Average percentage of expenses on programs and services over the past three years. A ratio greater than 70.00% receives full credit.
ExpensesFY2022
ExpensesFY2023
ExpensesFY2024
Source: Public data from IRS Form 990
Total liabilities divided by total assets, indicating long-term sustainability. A ratio under 50.00% receives full credit
Source: Public data from IRS Form 990. Fiscal Year 2024.
| Score | Metric |
|---|---|
| 100% | Program Expense Ratio:82.75% of total expenses Average percentage of expenses on programs and services over the past three years. A ratio greater than 70.00% receives full credit. ExpensesFY2022
ExpensesFY2023
ExpensesFY2024
Source: Public data from IRS Form 990 |
| 0% | Liabilities to Assets Ratio:87.13% of total assets Total liabilities divided by total assets, indicating long-term sustainability. A ratio under 50.00% receives full credit Source: Public data from IRS Form 990. Fiscal Year 2024. |