Hillside Apartments Phase II Inc

Analysis

Hillside Apartments Phase II Inc is a registered charity in United States, based in Harbor Springs, MI. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hillside Apartments Phase II Inc reported income of $207k and spending of $247k, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $199k to $207k (+3.8%), an average of +0.9% a year. The sharpest change came in the year to June 2020, when income dropped by 18%. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hillside Apartments Phase II Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within MI. Charities of a similar size with the same main cause include CPNJ Plainfield Residence II Inc ($207k), Friends Apartment Homes Inc ($207k) and Owatonna Senior Housing Inc ($206k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.7% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $19k (7.5% of expenses). Other salaries and wages came to $39k. At year end it held assets of $629k against liabilities of $1.0m, net assets of -$385k. It reported 2 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.