Ahepa 408 Inc

Analysis

Ahepa 408 Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in August 1996, 30 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, Ahepa 408 Inc reported income of $449k and spending of $532k, spending 118% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $407k to $449k (+11%), an average of +2.5% a year. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ahepa 408 Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within NC. Charities of a similar size with the same main cause include Broadway Apartment Corporation ($449k), Rising Up ($450k) and Sioux Falls 57 Good Samaritanhousing Inc ($449k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.8m against liabilities of $101k, net assets of $1.7m.

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.