St Lukes Apartments Inc

Analysis

St Lukes Apartments Inc is a registered charity in United States, based in Timonium, MD. It received its IRS tax-exemption ruling in May 1992, 34 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 2023, St Lukes Apartments Inc reported income of $1.1m and spending of $1.3m, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.1m (+6.6%), an average of +1.6% a year. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, St Lukes Apartments Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MD. Charities of a similar size with the same main cause include Cornerstones Housing Corporation ($1.1m), Rebuilding Together Baltimore Inc ($1.1m) and Moline Ministries 2 Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. Other salaries and wages came to $269k. At year end it held assets of $2.9m against liabilities of $7.6m, net assets of -$4.7m.

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.