Packer Apartments Corporation

Analysis

Packer Apartments Corporation is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in February 1998, 28 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 September 2023, Packer Apartments Corporation reported income of $1.9m and spending of $1.6m, spending 82% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.7m to $1.9m (+11%), an average of +2.5% a year. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Packer Apartments Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within WI. Charities of a similar size with the same main cause include Roselle Senior Citizens Housing Corporation ($1.9m), Greater Harlem Housing Development Corporation ($1.9m) and Supportive Housing Providers Association ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $443k. At year end it held assets of $4.9m against liabilities of $99k, net assets of $4.8m. It reported 22 employees.