Landing Apartments

Analysis

Landing Apartments is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Landing Apartments reported income of $450k and spending of $616k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $390k to $450k (+16%), an average of +3.7% a year. Over the whole period it spent 148% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Landing Apartments 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 67th percentile within MN. Charities of a similar size with the same main cause include Broadway Terrace Corporation ($450k), South Congregational Church ($451k) and Philippian Gardens Incorporated ($450k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $7.5m against liabilities of $156k, net assets of $7.3m.

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.