Lakeview Apartments Inc

Analysis

Lakeview Apartments Inc is a registered charity in United States, based in Paragould, AR. It received its IRS tax-exemption ruling in April 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 2022, Lakeview Apartments Inc reported income of $75k and spending of $127k, spending 169% of what it took in. Across the 3 years on record, from June 2019 to June 2022, income grew from $74k to $75k (+1.1%), an average of +0.6% a year. Over the whole period it spent 164% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lakeview Apartments Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 27th percentile within AR. Charities of a similar size with the same main cause include Visitation House ($75k), Anderson Place Apartments Inc ($75k) and Family Services of Western Pennsylvania ($75k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 21% and program service revenue 79% of the total. Other salaries and wages came to $14k. At year end it held assets of $833k against liabilities of $15k, net assets of $818k. 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.