Oak Haven Apartments Inc

Analysis

Oak Haven Apartments Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in October 2004, 22 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 March 2024, Oak Haven Apartments Inc reported income of $197k and spending of $261k, spending 133% of what it took in. Across the 6 years on record, from March 2019 to March 2024, income grew from $164k to $197k (+20%), an average of +3.7% a year. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oak Haven Apartments Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within PA. Charities of a similar size with the same main cause include Mid Peninsula Scotts Valley Inc ($197k), Brad Hoxie Area Development Inc ($197k) and Retired Clergy Housing Corporation of the Virginia Conference of the ($196k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 49% and program service revenue 48% of the total. At year end it held assets of $1.4m against liabilities of $2.0m, net assets of -$631k.

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.