Country Lane Apartments Inc

Analysis

Country Lane Apartments Inc is a registered charity in United States, based in Mt Sterling, IL. It received its IRS tax-exemption ruling in July 1994, 32 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 June 2024, Country Lane Apartments Inc reported income of $107k and spending of $127k, spending 118% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $108k to $107k (-1.3%), an average of -0.3% a year. The sharpest change came in the year to June 2022, when income dropped by 24%. Over the whole period it spent 138% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Country Lane Apartments Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 40th percentile within IL. Charities of a similar size with the same main cause include Mountain Valley Haven II ($107k), Aaa Elderly Housing-Heritage Manor of Sheridan Inc ($107k) and Rockland Housing Foundation Inc ($107k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 48% and program service revenue 51% of the total. At year end it held assets of $364k against liabilities of $65k, net assets of $299k.

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.