Garden Street Apartments Inc

Analysis

Garden Street Apartments Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in September 1994, 32 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Garden Street Apartments Inc reported income of $100k and spending of $125k, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $99k to $100k (+0.2%), an average of +0.1% a year. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Garden Street Apartments Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 44th percentile within MA. Charities of a similar size with the same main cause include Realtor-Community Housing Foundation Inc ($99k), Erie County Housing Opportunities Inc ($100k) and Servecom ($99k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.1m against liabilities of $1.2m, net assets of -$64k.

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.