Alverna Apartments

Analysis

Alverna Apartments is a registered charity in United States, based in Phoenix, AZ. 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), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Alverna Apartments reported income of $520k and spending of $483k, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $586k to $520k (-11%), an average of -3.0% a year. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Alverna Apartments sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 68th percentile within AZ. Charities of a similar size with the same main cause include Amazing Animals Inc ($520k), Feed and Clothe My People of Door County Inc ($520k) and Sugar Creek Fire Department Inc ($520k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 95% of the total. At year end it held assets of $1.0m against liabilities of $180k, net assets of $858k.