Ponderosa Apartments Inc

Analysis

Ponderosa Apartments Inc is a registered charity in United States, based in Spearfish, SD. It received its IRS tax-exemption ruling in November 2000, 26 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 September 2023, Ponderosa Apartments Inc reported income of $2.9m and spending of $3.9m, spending 132% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.7m to $2.9m (+9.1%), an average of +2.2% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ponderosa Apartments Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within SD. Charities of a similar size with the same main cause include Evergreen Youth & Family Serv Inc ($2.9m), Pathstone Corporation ($2.9m) and Hfho Real Estate Holdings Inc ($2.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 9.5% and program service revenue 89% of the total. At year end it held assets of $17.1m against liabilities of $19.1m, 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.