Venable Apartments II Inc

Analysis

Venable Apartments II Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in August 2004, 22 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 April 2023, Venable Apartments II Inc reported income of $770k and spending of $879k, spending 114% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income grew from $567k to $770k (+36%), an average of +7.9% a year. The sharpest change came in the year to April 2023, when income rose by 21%. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Venable Apartments II Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MD. Charities of a similar size with the same main cause include Esther Gitlow Towers II Housing Development Fund Corp ($769k), Barrett Terrace Housing Corporation ($770k) and Everybodys Place of Galveston County ($769k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. At year end it held assets of $4.0m against liabilities of $6.5m, net assets of -$2.6m.

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.