Westlake Elderly Apartments Inc

Analysis

Westlake Elderly Apartments Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in October 1957, 69 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3).

In the financial year ending June 2024, Westlake Elderly Apartments Inc reported income of $234k and spending of $317k, spending 135% of what it took in. Across the 4 years on record, from June 2020 to June 2024, income grew from $159k to $234k (+47%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 31%. Over the whole period it spent 140% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Westlake Elderly Apartments Inc sits at the 55th percentile: it is larger than about 55% 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 Chicagoland Chamber of Commerce Foundation ($234k), Owensboro Daviess County Humane Society Inc ($234k) and Brooklyn Womens Exchange Inc ($234k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 73% and program service revenue 24% of the total. Other salaries and wages came to $16k. At year end it held assets of $1.4m against liabilities of $2.7m, net assets of -$1.2m.

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.