Accessible Apartments of Newport News Inc

Analysis

Accessible Apartments of Newport News Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1989, 37 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 December 2023, Accessible Apartments of Newport News Inc reported income of $198k and spending of $232k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $167k to $198k (+19%), an average of +4.4% a year. The sharpest change came in the year to December 2022, when income rose by 20%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Accessible Apartments of Newport News Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 53rd percentile within VA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($198k), Garrison Place Inc ($198k) and Church Street Housing Inc ($198k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $60k. At year end it held assets of $901k against liabilities of $1.4m, net assets of -$454k.

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.