Cottonwood Ridge Apartments Inc

Analysis

Cottonwood Ridge Apartments Inc is a registered charity in United States, based in Springfield, MN. 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Cottonwood Ridge Apartments Inc reported income of $89k and spending of $131k, spending 147% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $91k to $89k (-2.7%), an average of -0.7% a year. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cottonwood Ridge Apartments Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 31st percentile within MN. Charities of a similar size with the same main cause include Desert Esperanza Inc ($89k), Lifechange Housing Associates Inc ($89k) and Robins Terrace Inc ($89k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $22k. At year end it held assets of $445k against liabilities of $187k, net assets of $258k.

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.