Venable Apartments I Inc

Analysis

Venable Apartments I Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in March 2001, 25 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 April 2023, Venable Apartments I Inc reported income of $714k and spending of $941k, spending 132% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income grew from $587k to $714k (+22%), an average of +5.0% a year. The sharpest change came in the year to April 2020, when income rose by 17%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Venable Apartments I Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MD. Charities of a similar size with the same main cause include Eke Inc ($714k), Bernalillo County Affordable Housing Non-Profit ($714k) and Calvary Refuge Inc ($714k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. At year end it held assets of $4.0m against liabilities of $5.4m, net assets of -$1.4m.

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.