Virginia Place Apartments Inc

Analysis

Virginia Place Apartments Inc is a registered charity in United States, based in Shreveport, LA. It received its IRS tax-exemption ruling in May 2004, 22 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Virginia Place Apartments Inc reported income of $90k and spending of $153k, spending 169% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $110k to $90k (-18%), an average of -4.9% a year. The sharpest change came in the year to June 2022, when income rose by 21%. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Virginia Place Apartments Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 34th percentile within LA. Charities of a similar size with the same main cause include Buffalo Senior Housing Corporation ($90k), NCCS - Housing Families First Nonprofit Housing Corporation ($90k) and Blessed Horizons Inc ($90k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 71% and program service revenue 29% of the total. Other salaries and wages came to $15k. At year end it held assets of $583k against liabilities of $1.0m, net assets of -$429k.

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.