Primrose Apartments Inc

Analysis

Primrose Apartments Inc is a registered charity in United States, based in Sharon, PA. It received its IRS tax-exemption ruling in October 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Primrose Apartments Inc reported income of $268k and spending of $424k, spending 158% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $275k to $268k (-2.7%), an average of -0.7% a year. Over the whole period it spent 152% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Primrose Apartments Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within PA. Charities of a similar size with the same main cause include Princeville Housing Development ($268k), Open Hearts Place ($268k) and Montana Mobility Impaired Housing Inc ($268k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $26k. At year end it held assets of $5.1m against liabilities of $5.8m, net assets of -$695k.

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.