HFL Vanowen Apartments

Analysis

HFL Vanowen Apartments is a registered charity in United States, based in Glendale, CA. It received its IRS tax-exemption ruling in March 2007, 19 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 December 2023, HFL Vanowen Apartments reported income of $362k and spending of $594k, spending 164% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $274k to $362k (+32%), an average of +7.3% a year. Over the whole period it spent 192% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, HFL Vanowen Apartments sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within CA. Charities of a similar size with the same main cause include Crabtree Apartments Inc ($362k), Cooperative Services Inc ($363k) and Eben Ezer Lutheran Housing Center ($362k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $4.2m against liabilities of $8.9m, net assets of -$4.7m.

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.