Spectrum River Vale Apartments Inc

Analysis

Spectrum River Vale Apartments Inc is a registered charity in United States, based in River Vale, NJ. It received its IRS tax-exemption ruling in September 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 December 2023, Spectrum River Vale Apartments Inc reported income of $209k and spending of $251k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $214k to $209k (-2.2%), an average of -0.5% a year. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Spectrum River Vale Apartments Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 62nd percentile within NJ. Charities of a similar size with the same main cause include Sawtooth Housing Corporation of Grand Marais ($209k), Mustard Seed Ministry Inc ($209k) and 12 Step Life ($209k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 56% of the total. At year end it held assets of $1.2m against liabilities of $99k, net assets of $1.1m.

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.