Ric Shelby Apartments Inc

Analysis

Ric Shelby Apartments Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in April 2013, 13 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 June 2023, Ric Shelby Apartments Inc reported income of $117k and spending of $158k, spending 135% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $114k to $117k (+3.3%), an average of +0.8% 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, Ric Shelby Apartments Inc 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 NC. Charities of a similar size with the same main cause include 17 Lincoln Street ($117k), New Vision Residential Services Inc ($117k) and Robertas House Support Corporation ($117k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 39% of the total. At year end it held assets of $1.4m against liabilities of $2.1m, net assets of -$729k.

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.