Lifetime Community Apartments Inc

Analysis

Lifetime Community Apartments Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in May 2002, 24 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 December 2023, Lifetime Community Apartments Inc reported income of $217k and spending of $164k, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $110k to $217k (+97%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 96%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lifetime Community 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 NY. Charities of a similar size with the same main cause include Minot Area Mens Winter Refuge ($217k), Fort Kennedy ($217k) and Fresno City Center Corporation ($217k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 51% of the total. Other salaries and wages came to $26k. At year end it held assets of $585k against liabilities of $717k, net assets of -$132k.