Newell Retirement Apartments

Analysis

Newell Retirement Apartments is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in December 2002, 24 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, Newell Retirement Apartments reported income of $464k and spending of $533k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $261k to $464k (+78%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 36%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newell Retirement Apartments sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include Lynx Crossing Apartments Inc ($464k), Diverse Housing Services Inc ($464k) and Coalition for Safe Affordable Housing ($464k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $100k. At year end it held assets of $2.5m against liabilities of $477k, 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.