Our Lady of Angels Apartments Inc

Analysis

Our Lady of Angels Apartments Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in October 1980, 46 years ago. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Our Lady of Angels Apartments Inc reported income of $1.6m and spending of $131k, leaving 92% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.8m to $1.6m (-10%), an average of -2.7% a year. The sharpest change came in the year to June 2021, when income rose by 541%. Over the whole period it spent 18% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Our Lady of Angels Apartments Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within OH. Charities of a similar size with the same main cause include Washington University Medical Center ($1.6m), Florida Music Education Association Inc ($1.6m) and Centre County United Way ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 40% of the total. Other salaries and wages came to $19k. At year end it held assets of $14.1m against liabilities of $0, net assets of $14.1m.