Russo Street Apartments Inc

Analysis

Russo Street Apartments Inc is a registered charity in United States, based in Woonsocket, RI. It received its IRS tax-exemption ruling in April 2000, 26 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 June 2024, Russo Street Apartments Inc reported income of $141k and spending of $144k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $106k to $141k (+34%), an average of +7.6% a year. The sharpest change came in the year to June 2023, when income rose by 30%. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Russo Street 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 46th percentile, and in the 42nd percentile within RI. Charities of a similar size with the same main cause include Bayou Manor Residents Assoc ($141k), The Transformation Project ($142k) and Community Coalition for Affordable Housing Incorporated ($141k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. At year end it held assets of $705k against liabilities of $278k, net assets of $428k.

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.