St Patrick Apartments II Inc

Analysis

St Patrick Apartments II Inc is a registered charity in United States, based in N Bethesda, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 December 2022, St Patrick Apartments II Inc reported income of $559k and spending of $539k, spending 97% of its income. Across the 6 years on record, from June 2019 to December 2022, income fell from $1.9m to $559k (-70%), an average of -21% a year. The sharpest change came in the year to June 2020, when income dropped by 100%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, St Patrick Apartments II Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within MD. Charities of a similar size with the same main cause include Center for Neurological Development Inc ($559k), Stephen Petronio Dance Company Inc ($559k) and Tampa Bay Research Institute Inc ($559k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 48% and program service revenue 52% of the total. Other salaries and wages came to $115k. At year end it held assets of $2.8m against liabilities of $4.5m, net assets of -$1.7m.