Bay Aging Apartments Colonial Beach Inc

Analysis

Bay Aging Apartments Colonial Beach Inc is a registered charity in United States, based in Urbanna, VA. It received its IRS tax-exemption ruling in March 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 September 2023, Bay Aging Apartments Colonial Beach Inc reported income of $269k and spending of $301k, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $238k to $269k (+13%), an average of +3.1% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bay Aging Apartments Colonial Beach Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within VA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($269k), Operation Life Seniors Citizens Corporation ($269k) and Perry Housing Partnership ($269k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $17k. At year end it held assets of $887k against liabilities of $32k, net assets of $855k.

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.