Town Center Apartments Inc

Analysis

Town Center Apartments Inc is a registered charity in United States, based in Kensington, MD. It received its IRS tax-exemption ruling in November 1979, 47 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 June 2023, Town Center Apartments Inc reported income of $260k and spending of $401k, spending 154% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.0m to $260k (-74%), an average of -29% a year. The sharpest change came in the year to June 2023, when income dropped by 74%. Over the whole period it spent 80% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Town Center Apartments Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within MD. Charities of a similar size with the same main cause include Magnolia Housing Inc ($260k), Koinonia Homes Inc ($261k) and Baldwin House Community Collective ($260k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $37k. At year end it held assets of $1.9m against liabilities of $790k, net assets of $1.1m.