Hands Center City Apartments Inc

Analysis

Hands Center City Apartments Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in September 1989, 37 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 September 2023, Hands Center City Apartments Inc reported income of $239k and spending of $312k, spending 131% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $218k to $239k (+9.7%), an average of +2.4% a year. Over the whole period it spent 129% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hands Center City Apartments Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within PA. Charities of a similar size with the same main cause include Black River Area Housing Development Corp for Lawrence Cnty ($239k), Oak Street Senior Apartments Inc ($239k) and Surplus Property Roundtable ($238k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 73% and program service revenue 26% of the total. At year end it held assets of $641k against liabilities of $1.6m, net assets of -$954k.

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.