Oak Non Profit Apartments Inc

Analysis

Oak Non Profit Apartments Inc is a registered charity in United States, based in Warren, MI. It received its IRS tax-exemption ruling in August 2008, 18 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 2024, Oak Non Profit Apartments Inc reported income of $2.7m and spending of $2.1m, leaving 21% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.0m to $2.7m (+32%), an average of +5.7% a year. The sharpest change came in the year to June 2024, when income rose by 19%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oak Non Profit Apartments Inc 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 MI. Charities of a similar size with the same main cause include Sparta Ecumenical Council on Senior Citizen Housing Inc ($2.7m), Innovative Development and Living Solutions of California ($2.7m) and Astoria Gardens Tenant Association ($2.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $4.9m against liabilities of $7.0m, net assets of -$2.0m.