Holly Ridge Apartments Inc

Analysis

Holly Ridge Apartments Inc is a registered charity in United States, based in Fort Mill, SC. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Holly Ridge Apartments Inc reported income of $109k and spending of $146k, spending 133% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $89k to $109k (+23%), an average of +5.2% a year. The sharpest change came in the year to September 2021, when income rose by 15%. Over the whole period it spent 158% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Holly Ridge Apartments Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 44th percentile within SC. Charities of a similar size with the same main cause include Ridgewood Educational After School Care Hours - Reach ($109k), Team Sharing Inc ($109k) and Hilltop Manor Housing Development Fund Co Inc ($109k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. At year end it held assets of $647k against liabilities of $1.3m, net assets of -$663k.

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.