Bay Aging Apartments Montross Inc

Analysis

Bay Aging Apartments Montross Inc is a registered charity in United States, based in Urbanna, VA. It received its IRS tax-exemption ruling in May 2000, 26 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 Montross Inc reported income of $186k and spending of $217k, spending 117% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $160k to $186k (+16%), an average of +3.8% a year. Over the whole period it spent 114% 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 Montross Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 52nd percentile within VA. Charities of a similar size with the same main cause include Island Workforce Housing ($186k), Inspire Counseling and Support Center Inc ($186k) and Gilman Housing Corporation ($186k).

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 $12k. At year end it held assets of $919k against liabilities of $21k, net assets of $898k.

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.