Georgetown Apartments Inc

Analysis

Georgetown Apartments Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in February 1996, 30 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, Georgetown Apartments Inc reported income of $65k and spending of $97k, spending 150% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $71k to $65k (-8.8%), an average of -3.0% a year. Over the whole period it spent 129% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Georgetown Apartments Inc sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 27th percentile within MD. Charities of a similar size with the same main cause include Alberta Manor Inc ($65k), Eduhousing Communities Corporation ($65k) and Housing Opportunities Incorporated ($65k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. At year end it held assets of $376k against liabilities of $642k, net assets of -$265k.

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.