Schoolhouse Apartments Inc

Analysis

Schoolhouse Apartments Inc is a registered charity in United States, based in New Canaan, CT. It received its IRS tax-exemption ruling in May 1990, 36 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Schoolhouse Apartments Inc reported income of $874k and spending of $827k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $802k to $874k (+9.0%), an average of +2.2% a year. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Schoolhouse 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 78th percentile, and in the 76th percentile within CT. Charities of a similar size with the same main cause include Come Together Property Management LLC ($874k), Community Touch Inc ($874k) and Emmaus House Foundation Inc ($873k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 99% of the total. Other salaries and wages came to $98k. At year end it held assets of $2.9m against liabilities of $2.7m, net assets of $192k.