Sandstone Apartments Inc

Analysis

Sandstone Apartments Inc is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in December 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Sandstone Apartments Inc reported income of $153k and spending of $174k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $124k to $153k (+23%), an average of +5.3% a year. Over the whole period it spent 125% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sandstone Apartments Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 53rd percentile within SC. Charities of a similar size with the same main cause include Life Sparx ($153k), Hear Me Now Inc ($153k) and Worldwide Marriage Encounter ($153k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 42% of the total. Other salaries and wages came to $24k. At year end it held assets of $554k against liabilities of $1.3m, net assets of -$699k.

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.