Versailles Apartments Inc

Analysis

Versailles Apartments Inc is a registered charity in United States, based in N Versailles, PA. It received its IRS tax-exemption ruling in November 1981, 45 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 October 2023, Versailles Apartments Inc reported income of $270k and spending of $316k, spending 117% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income grew from $250k to $270k (+7.9%), an average of +1.9% a year. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Versailles Apartments Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within PA. Charities of a similar size with the same main cause include Incommon Housing Development Corporation ($270k), BPH Holding Co Inc ($270k) and Apartments of River Trace Inc ($270k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 69% and program service revenue 29% of the total. At year end it held assets of $336k against liabilities of $985k, net assets of -$649k.

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.