Bay Aging Apartments Gloucester Inc

Analysis

Bay Aging Apartments Gloucester Inc is a registered charity in United States, based in Urbanna, VA. It received its IRS tax-exemption ruling in April 1999, 27 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 September 2023, Bay Aging Apartments Gloucester Inc reported income of $432k and spending of $488k, spending 113% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $342k to $432k (+26%), an average of +6.0% a year. Over the whole period it spent 115% 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 Gloucester Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within VA. Charities of a similar size with the same main cause include First Grace Community Alliance ($432k), Harrison Haven ($432k) and Pee Wee Homes ($431k).

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 $34k. At year end it held assets of $2.1m against liabilities of $69k, net assets of $2.0m.

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.