Bernardine Apartments Inc

Analysis

Bernardine Apartments Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in March 1946, 80 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 December 2023, Bernardine Apartments Inc reported income of $1.5m and spending of $2.6m, spending 171% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.5m (+17%), an average of +5.4% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 194% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bernardine Apartments Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Kenmore Housing Development Fund Corporation ($1.5m), Wanda Alston Foundation ($1.5m) and Wartburg Housing Development Fund Corporation ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.3% and program service revenue 77% of the total. Other salaries and wages came to $573k. At year end it held assets of $10.6m against liabilities of $451k, net assets of $10.1m.

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.