Lakeview Apartments II Inc

Analysis

Lakeview Apartments II Inc is a registered charity in United States, based in Paragould, AR. 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lakeview Apartments II Inc reported income of $51k and spending of $81k, spending 160% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $55k to $51k (-8.3%), an average of -2.2% a year. The sharpest change came in the year to December 2023, when income dropped by 17%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lakeview Apartments II Inc sits at the 11th percentile: it is larger than about 11% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within AR. Charities of a similar size with the same main cause include Burlington Transitional Living Center Inc ($51k), Mary Linda Housing Corp ($51k) and Social Justice Action Center ($51k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Other salaries and wages came to $11k. At year end it held assets of $1.1m against liabilities of $3,036, net assets of $1.1m. It reported 2 employees.

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.