Lewis Mall Apartments Incorporated

Analysis

Lewis Mall Apartments Incorporated is a registered charity in United States, based in East Boston, MA. It received its IRS tax-exemption ruling in August 1993, 33 years ago. 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 September 2023, Lewis Mall Apartments Incorporated reported income of $581k and spending of $644k, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $448k to $581k (+30%), an average of +6.7% a year. The sharpest change came in the year to September 2023, when income rose by 17%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lewis Mall Apartments Incorporated sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within MA. Charities of a similar size with the same main cause include Lancaster County Society for Historical Preservation Inc ($581k), Burlingame High School Parents Group Inc ($581k) and Erath County United Way ($581k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.7m against liabilities of $3.8m, net assets of -$2.0m.

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.