Amherst Towne Senior Apartments Inc

Analysis

Amherst Towne Senior Apartments Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in June 2004, 22 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, Amherst Towne Senior Apartments Inc reported income of $1.7m and spending of $65k, leaving 96% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $271k to $1.7m (+528%), an average of +58% a year. The sharpest change came in the year to December 2023, when income rose by 153%. Over the whole period it spent 56% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Amherst Towne Senior Apartments Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within TN. Charities of a similar size with the same main cause include Our Lady of Guadalupe ($1.7m), Mhany 2004 Housing Development Fund Corporation ($1.7m) and Neighborhood Investment Partners Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 253% and program service revenue 3.0% of the total. Other salaries and wages came to $8,949. At year end it held assets of $367k against liabilities of $743, net assets of $366k.