Neighborhood Apartments Inc

Analysis

Neighborhood Apartments Inc is a registered charity in United States, based in Portage, MI. It received its IRS tax-exemption ruling in October 1979, 47 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, Neighborhood Apartments Inc reported income of $511k and spending of $517k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $453k to $511k (+13%), an average of +3.1% a year. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Neighborhood Apartments Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within MI. Charities of a similar size with the same main cause include The Rock Foundation ($511k), NCSC USA Housing Development Corporation Three ($511k) and East Hillsborough Housing Development Incorporated ($510k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 24% of the total. Other salaries and wages came to $83k. At year end it held assets of $1.8m against liabilities of $1.5m, net assets of $284k.