Northfield Apartments of Duluth Inc

Analysis

Northfield Apartments of Duluth Inc is a registered charity in United States, based in Superior, WI. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending March 2023, Northfield Apartments of Duluth Inc reported income of $115k and spending of $147k, spending 128% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $131k to $115k (-12%), an average of -4.2% a year. The sharpest change came in the year to March 2023, when income dropped by 22%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Northfield Apartments of Duluth Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 40th percentile within WI. Charities of a similar size with the same main cause include Adapt Housing Corporation Number One Inc ($115k), Youth for Christ USA Inc ($115k) and Chester County Senior Citizens Inc ($115k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 69% and program service revenue 31% of the total. Other salaries and wages came to $26k. At year end it held assets of $289k against liabilities of $391k, net assets of -$102k.

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.