Obed Apartments Inc

Analysis

Obed Apartments Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in September 1986, 40 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Obed Apartments Inc reported income of $125k and spending of $186k, spending 149% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $134k to $125k (-6.7%), an average of -1.7% a year. Over the whole period it spent 136% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Obed Apartments Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 38th percentile within RI. Charities of a similar size with the same main cause include Down Syndrome Association of Brazos Valley ($125k), Instep Inc ($125k) and Urology Center of Colorado Foundation ($125k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 28% of the total. At year end it held assets of $834k against liabilities of $1.2m, net assets of -$325k.

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.