Red Lake Senior Apartment Center Inc

Analysis

Red Lake Senior Apartment Center Inc is a registered charity in United States, based in Red Lake, MN. It received its IRS tax-exemption ruling in September 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 September 2023, Red Lake Senior Apartment Center Inc reported income of $169k and spending of $293k, spending 173% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $179k to $169k (-5.5%), an average of -1.4% a year. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Red Lake Senior Apartment Center Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within MN. Charities of a similar size with the same main cause include Residential Opportunities Incorporated ($169k), Woodlands Supportive Housing Inc ($169k) and Alloway Housing Development Fund Corporation ($169k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $43k. At year end it held assets of $1.6m against liabilities of $152k, net assets of $1.4m.

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.