Oakwood Village Prairie Ridge Apartments Inc

Analysis

Oakwood Village Prairie Ridge Apartments Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in May 2000, 26 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 December 2023, Oakwood Village Prairie Ridge Apartments Inc reported income of $7.5m and spending of $8.3m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.0m to $7.5m (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oakwood Village Prairie Ridge Apartments Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within WI. Charities of a similar size with the same main cause include Merritt Community Capital Corp ($7.4m), Monadnock Affordable Housing Corporation ($7.5m) and Linc Community Development Corporation ($7.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $263k (3.2% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $72.5m against liabilities of $83.4m, net assets of -$11.0m.

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.