Freeman Apartments Inc

Analysis

Freeman Apartments Inc is a registered charity in United States, based in Bloomfield, NJ. It received its IRS tax-exemption ruling in April 1997, 29 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 December 2023, Freeman Apartments Inc reported income of $191k and spending of $268k, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $229k to $191k (-16%), an average of -4.4% a year. The sharpest change came in the year to December 2020, when income dropped by 18%. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Freeman Apartments Inc sits at the 37th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 60th percentile within NJ. Charities of a similar size with the same main cause include Notre Dame Living Center Inc ($191k), Blue River Churubusco Inc ($191k) and Morning Calm Inc ($191k).

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 $960k against liabilities of $78k, net assets of $883k. It reported 1 employees.

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.