Apartments of River Trace Inc

Analysis

Apartments of River Trace Inc is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in May 2001, 25 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 December 2023, Apartments of River Trace Inc reported income of $270k and spending of $332k, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $235k to $270k (+15%), an average of +3.5% a year. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Apartments of River Trace Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 61st percentile within IA. Charities of a similar size with the same main cause include Essex Elderly & Affordable Housing ($270k), Incommon Housing Development Corporation ($270k) and Rebuilding Together Indianapolis Inc ($270k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Other salaries and wages came to $64k. At year end it held assets of $1.5m against liabilities of $2.4m, net assets of -$904k.

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.