Liberty Place Apartments Inc

Analysis

Liberty Place Apartments Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in August 2007, 19 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 March 2024, Liberty Place Apartments Inc reported income of $66k and spending of $112k, spending 170% of what it took in. Across the 6 years on record, from March 2019 to March 2024, income fell from $73k to $66k (-11%), an average of -2.2% a year. The sharpest change came in the year to March 2024, when income dropped by 23%. Over the whole period it spent 133% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Liberty Place Apartments Inc sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 24th percentile within PA. Charities of a similar size with the same main cause include Schneider & Ryland Homes Inc ($66k), Mac Mineral Rentals Inc ($66k) and Safety in Groups Inc ($66k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 91% and program service revenue 3.3% of the total. At year end it held assets of $629k against liabilities of $893k, net assets of -$265k.

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.