Eastgate Apartments

Analysis

Eastgate Apartments is a registered charity in United States, based in Malvern, AR. It received its IRS tax-exemption ruling in July 2003, 23 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, Eastgate Apartments reported income of $122k and spending of $151k, spending 124% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $91k to $122k (+35%), an average of +7.7% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Eastgate Apartments sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 41st percentile within AR. Charities of a similar size with the same main cause include FLS Inc ($122k), Wright Street Housing Corporation ($122k) and Chipola Rainbow Home Builders Association Inc ($122k).

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 $30k. At year end it held assets of $601k against liabilities of $30k, net assets of $571k.

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.