Shooting Star Apartments Inc

Analysis

Shooting Star Apartments Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in August 2013, 13 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 June 2024, Shooting Star Apartments Inc reported income of $71k and spending of $80k, spending 113% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $53k to $71k (+32%), an average of +7.3% a year. The sharpest change came in the year to June 2024, when income rose by 28%. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Shooting Star Apartments Inc sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 24th percentile within RI. Charities of a similar size with the same main cause include Shalom Apartments of Federation Housing Inc ($71k), The Village Inc ($71k) and Morgandale Commons Inc ($71k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $434k against liabilities of $178k, net assets of $256k.

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.