Zion Hill Apartments Inc

Analysis

Zion Hill Apartments Inc is a registered charity in United States, based in Matthews, NC. It received its IRS tax-exemption ruling in March 1973, 53 years ago. 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, Zion Hill Apartments Inc reported income of $483k and spending of $621k, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $412k to $483k (+17%), an average of +4.1% a year. The sharpest change came in the year to June 2020, when income rose by 20%. Over the whole period it spent 126% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Zion Hill Apartments Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within NC. Charities of a similar size with the same main cause include Leadership Spokane ($483k), Ottauquechee Health Foundation Inc ($483k) and Christopher Homes of North Little Rock Inc ($483k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 27% of the total. At year end it held assets of $3.9m against liabilities of $4.5m, net assets of -$575k.

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.