Ahepa-Penelope 38 Apartments Inc

Analysis

Ahepa-Penelope 38 Apartments Inc is a registered charity in United States, based in Ankeny, IA. 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 June 2023, Ahepa-Penelope 38 Apartments Inc reported income of $458k and spending of $477k, spending 104% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $458k to $458k (-0.0%), an average of +-0.0% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ahepa-Penelope 38 Apartments Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within IA. Charities of a similar size with the same main cause include Allendale Housing Inc ($458k), La-Shai House Inc ($459k) and Habitat for Humanity International Inc ($458k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $1.6m against liabilities of $49k, net assets of $1.5m.