Bay Pointe Apartments Inc

Analysis

Bay Pointe Apartments Inc is a registered charity in United States, based in Prestonsburg, KY. It received its IRS tax-exemption ruling in October 2006, 20 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, Bay Pointe Apartments Inc reported income of $148k and spending of $188k, spending 127% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $106k to $148k (+40%), an average of +8.8% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 156% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bay Pointe Apartments Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within KY. Charities of a similar size with the same main cause include Oak Hill Apartments ($148k), Leverage International Incorporated ($148k) and Dewitt Village Inc ($148k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Other salaries and wages came to $42k. At year end it held assets of $1.4m against liabilities of $17k, net assets of $1.4m. It reported 4 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.