Coleman Apartments

Analysis

Coleman Apartments is a registered charity in United States, based in Kent, OH. It received its IRS tax-exemption ruling in October 1995, 31 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 December 2023, Coleman Apartments reported income of $69k and spending of $102k, spending 148% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $81k to $69k (-15%), an average of -3.9% a year. The sharpest change came in the year to December 2022, when income dropped by 19%. Over the whole period it spent 138% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Coleman Apartments sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within OH. Charities of a similar size with the same main cause include Multifamily Affordable Properties ($69k), Grasse River Housing Corporation ($69k) and C L C Supported Living Inc ($69k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 87% of the total. At year end it held assets of $619k against liabilities of $962k, net assets of -$343k.

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.