Union Apartment Project Inc

Analysis

Union Apartment Project Inc is a registered charity in United States, based in Rahway, NJ. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Union Apartment Project Inc reported income of $75k and spending of $105k, spending 139% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $57k to $75k (+31%), an average of +7.1% a year. The sharpest change came in the year to June 2020, when income rose by 30%. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Union Apartment Project Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 37th percentile within NJ. Charities of a similar size with the same main cause include Rooted Communities Inc ($75k), Newday Management Corporation ($76k) and Hope Community Development Corporation ($75k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 21% of the total. Other salaries and wages came to $20k. At year end it held assets of $538k against liabilities of $859k, net assets of -$320k.

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.