Niagara Apartments Inc

Analysis

Niagara Apartments Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in June 1995, 31 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, Niagara Apartments Inc reported income of $105k and spending of $125k, spending 119% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $107k to $105k (-2.2%), an average of -0.6% a year. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Niagara Apartments Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 36th percentile within PA. Charities of a similar size with the same main cause include Spencer Community of Hope II Inc ($105k), Kahookamamalu II Inc ($105k) and Chrysalis Community Inc ($105k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 68% and program service revenue 30% of the total. At year end it held assets of $422k against liabilities of $785k, net assets of -$363k.

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.