Amherst Ridge Senior Apartments Inc

Analysis

Amherst Ridge Senior Apartments Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in October 2015, 11 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 December 2023, Amherst Ridge Senior Apartments Inc reported income of $1.4m and spending of $49k, leaving 96% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $258k to $1.4m (+431%), an average of +52% a year. The sharpest change came in the year to December 2022, when income rose by 106%. Over the whole period it spent 67% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Amherst Ridge Senior Apartments Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within TN. Charities of a similar size with the same main cause include Perrysburg Ecumenical Housing Inc ($1.4m), Southgate Apartments Non-Profit Housing Inc ($1.4m) and Houses New York Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 495% and program service revenue 4.1% of the total. Other salaries and wages came to $8,697. At year end it held assets of $693k against liabilities of $743, net assets of $692k.