Main Street Apartments Corp

Analysis

Main Street Apartments Corp is a registered charity in United States, based in Huntington, WV. It received its IRS tax-exemption ruling in July 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Main Street Apartments Corp reported income of $95k and spending of $106k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $103k to $95k (-7.6%), an average of -2.0% a year. The sharpest change came in the year to December 2020, when income dropped by 29%. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Main Street Apartments Corp sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 32nd percentile within WV. Charities of a similar size with the same main cause include Calvert Vaux Preservation Alliance ($95k), CPNJ West Orange Residence II Inc ($96k) and Arp Place - Gastonia in ($95k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Other salaries and wages came to $11k. At year end it held assets of $537k against liabilities of $27k, net assets of $510k.

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.