Boucher Apartments Inc

Analysis

Boucher Apartments Inc is a registered charity in United States, based in Woonsocket, RI. It received its IRS tax-exemption ruling in January 1991, 35 years ago. 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 2024, Boucher Apartments Inc reported income of $1.2m and spending of $1.2m, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.1m to $1.2m (+4.2%), an average of +1.0% a year. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Boucher Apartments Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within RI. Charities of a similar size with the same main cause include Scotia Committee Housing Development Fund Co Inc ($1.2m), Ukiah Autumn Leaves ($1.2m) and Los Angeles County Housing Development Corporation ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $1.6m against liabilities of $3.6m, net assets of -$2.0m.

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.