Madison Heritage Apartments Inc

Analysis

Madison Heritage Apartments Inc is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in October 1985, 41 years ago. 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 2024, Madison Heritage Apartments Inc reported income of $303k and spending of $318k, spending 105% of what it took in. Across the 5 years on record, from April 2020 to April 2024, income grew from $289k to $303k (+4.7%), an average of +1.2% a year. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Madison Heritage Apartments Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within CA. Charities of a similar size with the same main cause include Natura International Inc ($303k), Padre Pio Academy ($303k) and Faneuil HIV Housing Corporation ($303k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 66% and program service revenue 33% of the total. At year end it held assets of $909k against liabilities of $1.1m, net assets of -$221k.