Avondale Park Apartments Inc

Analysis

Avondale Park Apartments Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending June 2023, Avondale Park Apartments Inc reported income of $794k and spending of $957k, spending 121% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $712k to $794k (+11%), an average of +3.7% a year. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Avondale Park Apartments Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within MD. Charities of a similar size with the same main cause include International Debutante Ball Foundation Inc ($793k), Saint Peters Research and Educational Foundation Inc ($794k) and Bridgebuilders International Leadership Network ($793k).

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 $74k. At year end it held assets of $3.4m against liabilities of $259k, net assets of $3.1m.

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.