MBCDC Crespi Park Apartments Inc

Analysis

MBCDC Crespi Park Apartments Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in August 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, MBCDC Crespi Park Apartments Inc reported income of $257k and spending of $266k, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $142k to $257k (+81%), an average of +16% a year. The sharpest change came in the year to September 2023, when income rose by 43%. Over the whole period it spent 157% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, MBCDC Crespi Park Apartments Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 62nd percentile within FL. Charities of a similar size with the same main cause include Operation Tiny Home ($257k), Mighty Hero Home Foundation Inc ($257k) and Northwest Senior Housing Corporation ($257k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 9.6% and program service revenue 74% of the total. Other salaries and wages came to $12k. At year end it held assets of $695k against liabilities of $658k, net assets of $37k.

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.