Hands Metro Apartments Inc

Analysis

Hands Metro Apartments Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in April 1993, 33 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, Hands Metro Apartments Inc reported income of $212k and spending of $252k, spending 119% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $176k to $212k (+21%), an average of +4.8% 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, Hands Metro Apartments Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within PA. Charities of a similar size with the same main cause include Association Properties Inc ($212k), Freedom Thru Faith Ministries Inc ($212k) and Fields Corner Housing Corporation ($212k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 59% and program service revenue 25% of the total. At year end it held assets of $603k against liabilities of $1.2m, net assets of -$559k.

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.