Alverno Apartments Inc

Analysis

Alverno Apartments Inc is a registered charity in United States, based in Dubuque, IA. It received its IRS tax-exemption ruling in February 1979, 47 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 June 2023, Alverno Apartments Inc reported income of $948k and spending of $934k, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $680k to $948k (+39%), an average of +8.6% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Alverno Apartments Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 81st percentile within IA. Charities of a similar size with the same main cause include Loho ($947k), Neighborlink Indianapolis Foundation Inc ($949k) and Fair Housing Center of Southwest Michigan ($947k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. At year end it held assets of $2.9m against liabilities of $2.3m, net assets of $581k.