East Salem Apartments Inc

Analysis

East Salem Apartments Inc is a registered charity in United States, based in Winstonsalem, NC. It received its IRS tax-exemption ruling in June 2003, 23 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 June 2023, East Salem Apartments Inc reported income of $110k and spending of $122k, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $104k to $110k (+6.6%), an average of +1.6% a year. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, East Salem Apartments Inc sits at the 25th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 37th percentile within NC. Charities of a similar size with the same main cause include St Augustine Manor Inc ($110k), Plymouth Taskforce to End Homelessness Inc ($111k) and Upc Westside CDC ($110k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. At year end it held assets of $609k against liabilities of $107k, net assets of $502k.

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.