Sylvan Retreat Apartments Inc

Analysis

Sylvan Retreat Apartments Inc is a registered charity in United States, based in Lancaster, PA. It received its IRS tax-exemption ruling in January 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sylvan Retreat Apartments Inc reported income of $319k and spending of $399k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $281k to $319k (+14%), an average of +3.3% a year. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Sylvan Retreat Apartments Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 61st percentile within PA. Charities of a similar size with the same main cause include Normandale Housing Corporation ($319k), Four Freedoms House of Miami Beach Inc ($319k) and Empire Housing and Development Corporation ($319k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 91% of the total. Other salaries and wages came to $62k. At year end it held assets of $2.2m against liabilities of $4.0m, net assets of -$1.8m.

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.