Grandview Apartments Affordable Housing Corporation

Analysis

Grandview Apartments Affordable Housing Corporation is a registered charity in United States, based in Neptune, NJ. It received its IRS tax-exemption ruling in June 1996, 30 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, Grandview Apartments Affordable Housing Corporation reported income of $1.8m and spending of $1.7m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.8m (-12%), an average of -3.1% a year. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grandview Apartments Affordable Housing Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within NJ. Charities of a similar size with the same main cause include Family Promise of Brevard Inc ($1.8m), Housing Development Corporation of ($1.8m) and Amherst Glen Senior Apartments Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 48% of the total. Other salaries and wages came to $308k. At year end it held assets of $9.0m against liabilities of $630k, net assets of $8.4m.