Seddlemeyer Apartments Inc

Analysis

Seddlemeyer Apartments Inc is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in July 1999, 27 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 June 2023, Seddlemeyer Apartments Inc reported income of $115k and spending of $157k, spending 137% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $98k to $115k (+17%), an average of +5.4% a year. The sharpest change came in the year to June 2023, when income rose by 20%. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Seddlemeyer Apartments Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within IN. Charities of a similar size with the same main cause include JM Apartments ($115k), Veterans Changing Services Inc ($115k) and Richland Apartments Inc ($115k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $17k. At year end it held assets of $673k against liabilities of $1.2m, net assets of -$545k.

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.