Canal Apartments Inc

Analysis

Canal Apartments Inc is a registered charity in United States, based in Bluffton, SC. It received its IRS tax-exemption ruling in February 1997, 29 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Canal Apartments Inc reported income of $214k and spending of $304k, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $91k to $214k (+136%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 63%. Over the whole period it spent 130% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Canal Apartments Inc 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 55th percentile, and in the 61st percentile within SC. Charities of a similar size with the same main cause include Baltimore Urban Leadership Foundation Inc ($214k), Bethany Home Foundation Inc ($214k) and FMS Welfare Trust ($214k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $318k against liabilities of $0, net assets of $318k.