Hempfield Apartments Inc

Analysis

Hempfield Apartments Inc is a registered charity in United States, based in Sharon, PA. It received its IRS tax-exemption ruling in February 2008, 18 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 June 2024, Hempfield Apartments Inc reported income of $136k and spending of $244k, spending 179% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $131k to $136k (+3.9%), an average of +0.8% a year. Over the whole period it spent 163% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hempfield Apartments Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 42nd percentile within PA. Charities of a similar size with the same main cause include Ascendant Neighborhood Development Corporation ($136k), Lancaster Housing and Neighborhood Development Services ($136k) and Elderly Housing Inc ($136k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $26k. At year end it held assets of $2.3m against liabilities of $3.2m, net assets of -$940k.

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.