Mansfield Memorial Home Apartments

Analysis

Mansfield Memorial Home Apartments is a registered charity in United States, based in Mansfield, OH. It received its IRS tax-exemption ruling in October 1975, 51 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 December 2023, Mansfield Memorial Home Apartments reported income of $507k and spending of $530k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $357k to $507k (+42%), an average of +9.1% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mansfield Memorial Home Apartments sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within OH. Charities of a similar size with the same main cause include Nazareth Housing Development ($507k), Peoples Health and Housing ($507k) and Wider Path Home Foundation ($507k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 60% of the total. Other salaries and wages came to $94k. At year end it held assets of $384k against liabilities of $1.9m, net assets of -$1.5m.

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.