Indepedence Apartments Inc

Analysis

Indepedence Apartments Inc is a registered charity in United States, based in Malvern, AR. It received its IRS tax-exemption ruling in May 1999, 27 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, Indepedence Apartments Inc reported income of $124k and spending of $122k, spending 99% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $72k to $124k (+71%), an average of +11% a year. The sharpest change came in the year to June 2020, when income rose by 32%. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Indepedence Apartments Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 42nd percentile within AR. Charities of a similar size with the same main cause include Independent Living Horizons Eleven Inc ($124k), Fairview Family Estates ($124k) and Narragansett Affordable Housing Inc ($124k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $20k. At year end it held assets of $511k against liabilities of $11k, net assets of $500k.