Ken-Rock Elderly Apartments Inc

Analysis

Ken-Rock Elderly Apartments Inc is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in December 1983, 43 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 June 2023, Ken-Rock Elderly Apartments Inc reported income of $302k and spending of $312k, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $287k to $302k (+5.5%), an average of +1.8% a year. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ken-Rock Elderly 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 62nd percentile within IL. Charities of a similar size with the same main cause include Transplant Recipients International Organization Inc ($302k), Grand Rapids Band Boosters Association ($303k) and Bloomingdale Youth Sports Association Inc ($302k).

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 $70k. At year end it held assets of $425k against liabilities of $855k, net assets of -$430k.

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.