HFL Van Nuys Apartments

Analysis

HFL Van Nuys Apartments is a registered charity in United States, based in Glendale, CA. It received its IRS tax-exemption ruling in January 2004, 22 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, HFL Van Nuys Apartments reported income of $193k and spending of $336k, spending 174% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $177k to $193k (+9.3%), an average of +2.2% a year. Over the whole period it spent 174% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, HFL Van Nuys Apartments sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 55th percentile within CA. Charities of a similar size with the same main cause include Sullivan Street Inc ($193k), Statewide Bay Landing Inc ($193k) and Ellas House ($193k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $1.4m against liabilities of $3.9m, net assets of -$2.5m.

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.