Mariners Court Apartments

Analysis

Mariners Court Apartments is a registered charity in United States, based in Fort Gratiot, MI. It received its IRS tax-exemption ruling in July 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 (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, Mariners Court Apartments reported income of $113k and spending of $154k, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $100k to $113k (+14%), an average of +3.3% a year. The sharpest change came in the year to December 2021, when income rose by 33%. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mariners Court Apartments sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 40th percentile within MI. Charities of a similar size with the same main cause include Lapaz Garden Court Inc ($113k), LSS Housing Jamestown Inc ($113k) and Warm Supportive Homes Inc ($113k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 26% of the total. At year end it held assets of $467k against liabilities of $157k, net assets of $309k.

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.