Oak Street Senior Apartments Inc

Analysis

Oak Street Senior Apartments Inc is a registered charity in United States, based in Flint, MI. It received its IRS tax-exemption ruling in October 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 December 2023, Oak Street Senior Apartments Inc reported income of $239k and spending of $401k, spending 168% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $181k to $239k (+32%), an average of +5.7% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 193% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oak Street Senior Apartments Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within MI. Charities of a similar size with the same main cause include Hands Center City Apartments Inc ($239k), Sitka Homeless Coalition ($239k) and Black River Area Housing Development Corp for Lawrence Cnty ($239k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 32% of the total. Other salaries and wages came to $37k. At year end it held assets of $3.5m against liabilities of $74k, net assets of $3.4m.

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.