Regal Oaks Apartments Inc

Analysis

Regal Oaks Apartments Inc is a registered charity in United States, based in Hendersonvlle, NC. It received its IRS tax-exemption ruling in September 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, Regal Oaks Apartments Inc reported income of $149k and spending of $249k, spending 166% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $147k to $149k (+1.9%), an average of +0.5% a year. Over the whole period it spent 161% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Regal Oaks Apartments Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 45th percentile within NC. Charities of a similar size with the same main cause include Louisville Housing Inc ($149k), Woods of Crooked Creek Apartments Inc ($150k) and Cumberland Homes for Elderly Inc ($149k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 66% of the total. At year end it held assets of $2.8m against liabilities of $3.6m, net assets of -$792k.

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.