Ideal Apartments Housing Corporation

Analysis

Ideal Apartments Housing Corporation is a registered charity in United States, based in Richmond, MO. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Ideal Apartments Housing Corporation reported income of $117k and spending of $129k, spending 110% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $79k to $117k (+49%), an average of +10% a year. The sharpest change came in the year to September 2023, when income rose by 41%. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ideal Apartments Housing Corporation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within MO. Charities of a similar size with the same main cause include The Stration Area Foundation I ($117k), Sohum Housing Opportunities ($117k) and Liberty Hill Apartments Inc ($117k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 70% and program service revenue 30% of the total. Other salaries and wages came to $9,600. At year end it held assets of $469k against liabilities of $26k, net assets of $443k. It reported 1 employees.

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.