Redbanks Regency Apartments Inc

Analysis

Redbanks Regency Apartments Inc is a registered charity in United States, based in Henderson, KY. It received its IRS tax-exemption ruling in February 2005, 21 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, Redbanks Regency Apartments Inc reported income of $854k and spending of $529k, leaving 38% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $301k to $854k (+183%), an average of +30% a year. The sharpest change came in the year to June 2024, when income rose by 116%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Redbanks Regency Apartments Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within KY. Charities of a similar size with the same main cause include Centennial Housing Corp ($853k), Holy Trinity Villa Inc ($854k) and Swan Memorial Housing Association ($853k).

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 $122k. At year end it held assets of $3.0m against liabilities of $217k, net assets of $2.8m. It reported 3 employees.