Northwest Towers Residents Assoc

Analysis

Northwest Towers Residents Assoc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 1996, 30 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, Northwest Towers Residents Assoc reported income of $2.7m and spending of $3.3m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.7m (+64%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 55%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Northwest Towers Residents Assoc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within IL. Charities of a similar size with the same main cause include Satellite Senior Homes III Inc ($2.7m), Santa Barbara Community Housing Corporation ($2.7m) and Cedarbrook Village Incorporated ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 32% of the total. Other salaries and wages came to $268k. At year end it held assets of $18.5m against liabilities of $18.1m, net assets of $465k. It reported 6 employees.

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.