Prince of Peace Senior Apartments Inc

Analysis

Prince of Peace Senior Apartments Inc is a registered charity in United States, based in Hutchinson, MN. It received its IRS tax-exemption ruling in May 1994, 32 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, Prince of Peace Senior Apartments Inc reported income of $750k and spending of $668k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $588k to $750k (+28%), an average of +6.3% a year. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Prince of Peace Senior Apartments Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include HRC Cottages Inc ($750k), Saginaw Catholic Mustard Seed Foundation ($750k) and Home Empower ($750k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 100% of the total. Other salaries and wages came to $177k. At year end it held assets of $5.4m against liabilities of $3.2m, net assets of $2.2m. It reported 11 employees.