Virginia Avenue Apartments Inc

Analysis

Virginia Avenue Apartments Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in September 2007, 19 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 June 2024, Virginia Avenue Apartments Inc reported income of $148k and spending of $193k, spending 130% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $146k to $148k (+1.3%), an average of +0.3% a year. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Virginia Avenue Apartments Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within KY. Charities of a similar size with the same main cause include Brookings Senior Housing Inc ($148k), New Beginnings for Families Inc ($148k) and Pines of Aberdeen Inc ($148k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. At year end it held assets of $630k against liabilities of $998k, net assets of -$368k.

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.