Independence Square Apartments Inc

Analysis

Independence Square Apartments Inc is a registered charity in United States, based in Fort Gratiot, MI. It received its IRS tax-exemption ruling in May 1985, 41 years ago. 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, Independence Square Apartments Inc reported income of $102k and spending of $101k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $99k to $102k (+2.4%), an average of +2.4% a year. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Independence Square Apartments Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 37th percentile within MI. Charities of a similar size with the same main cause include Walter Baker Memorial Trust ($102k), North High School Athletic Booster Club ($102k) and Florida Youth Athletics Inc ($102k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. At year end it held assets of $170k against liabilities of $365k, net assets of -$195k.