Corning Senior Apartments

Analysis

Corning Senior Apartments is a registered charity in United States, based in Osceola, AR. 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, Corning Senior Apartments reported income of $80k and spending of $96k, spending 120% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $69k to $80k (+17%), an average of +3.1% a year. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Corning Senior Apartments sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 29th percentile within AR. Charities of a similar size with the same main cause include Share IX Inc ($80k), Foster Arizona Housing Project ($80k) and Anchor Home ($80k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $12k. At year end it held assets of $543k against liabilities of $6,259, net assets of $536k. It reported 2 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.