East 5th Street Apartments Inc

Analysis

East 5th Street Apartments Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in May 2012, 14 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 June 2023, East 5th Street Apartments Inc reported income of $53k and spending of $79k, spending 149% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $53k to $53k (+0.4%), an average of +0.1% a year. Over the whole period it spent 158% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, East 5th Street Apartments Inc sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 19th percentile within NC. Charities of a similar size with the same main cause include Caroline House ($53k), Share-A-Vision Co Inc ($53k) and Greenfield Housing Associates Inc ($53k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 55% and program service revenue 29% of the total. At year end it held assets of $831k against liabilities of $584k, net assets of $247k.

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.