Independence Square Apartments II

Analysis

Independence Square Apartments II 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, Independence Square Apartments II reported income of $83k and spending of $92k, spending 111% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $80k to $83k (+2.9%), an average of +2.9% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Independence Square Apartments II sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 31st percentile within MI. Charities of a similar size with the same main cause include Community Apartments Corporation of Cumberland County ($83k), Continuum Supportive Housing of Wethersfield Inc ($83k) and Associaton of Washington Housing Authorities ($83k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 30% of the total. At year end it held assets of $176k against liabilities of $8,513, net assets of $167k.