Broadway Apartment Corporation

Analysis

Broadway Apartment Corporation is a registered charity in United States, based in Duluth, GA. It received its IRS tax-exemption ruling in November 2005, 21 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Broadway Apartment Corporation reported income of $449k and spending of $506k, spending 113% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $397k to $449k (+13%), an average of +4.2% a year. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Broadway Apartment Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 72nd percentile within GA. Charities of a similar size with the same main cause include Sioux Falls 57 Good Samaritanhousing Inc ($449k), Ahepa 408 Inc ($449k) and Home Full of Grace ($449k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $93k. At year end it held assets of $3.0m against liabilities of $4.1m, net assets of -$1.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.