Springbrook Apartments Inc

Analysis

Springbrook Apartments Inc is a registered charity in United States, based in Liverpool, NY. It received its IRS tax-exemption ruling in February 1978, 48 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 March 2024, Springbrook Apartments Inc reported income of $748k and spending of $812k, spending 109% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $707k to $748k (+5.8%), an average of +1.4% a year. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Springbrook Apartments Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include New Journey CDC Inc ($747k), Theophilos III Intergenerational Diversified Outreach Ministries ($748k) and Santa Fe Apartment Corporation ($747k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 98% of the total. Other salaries and wages came to $41k. At year end it held assets of $2.5m against liabilities of $92k, net assets of $2.4m. It reported 3 employees.

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.