Park Ridge Apartments Inc

Analysis

Park Ridge Apartments Inc is a registered charity in United States, based in Youngsville, LA. It received its IRS tax-exemption ruling in June 2009, 17 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, Park Ridge Apartments Inc reported income of $138k and spending of $204k, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $128k to $138k (+8.4%), an average of +2.0% a year. The sharpest change came in the year to December 2021, when income rose by 101%. 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, Park Ridge Apartments Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 44th percentile within LA. Charities of a similar size with the same main cause include NYC Partnership Housing Development Fund Company Inc ($138k), Capps Villa Inc ($138k) and Stanton Accessible Apartments ($138k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $11k. At year end it held assets of $2.1m against liabilities of $2.6m, net assets of -$518k.

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.