Cypress Park Apartments Inc

Analysis

Cypress Park Apartments Inc is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in August 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 September 2023, Cypress Park Apartments Inc reported income of $132k and spending of $164k, spending 124% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $107k to $132k (+23%), an average of +5.4% a year. The sharpest change came in the year to September 2021, when income rose by 17%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cypress Park Apartments Inc sits at the 29th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 50th percentile within SC. Charities of a similar size with the same main cause include Deerbrook Apartments Inc ($132k), Bivins Place Inc ($132k) and Forest Lane Apartments Inc ($132k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. At year end it held assets of $1.2m against liabilities of $19k, 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.