Pinnacle Residential

Analysis

Pinnacle Residential is a registered charity in United States, based in Gadsden, AL. It received its IRS tax-exemption ruling in August 2014, 12 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 September 2023, Pinnacle Residential reported income of $1.1m and spending of $1.2m, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.3m to $1.1m (-16%), an average of -4.2% a year. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Pinnacle Residential sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within AL. Charities of a similar size with the same main cause include Hale Area Assisted Living Corporation ($1.1m), Garden Court Inc ($1.1m) and Denton Affordable Housing Corporation ($1.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Other salaries and wages came to $543k. At year end it held assets of $609k against liabilities of $26k, net assets of $582k. It reported 46 employees.