Bay Aging Apartments Westmoreland Inc

Analysis

Bay Aging Apartments Westmoreland Inc is a registered charity in United States, based in Urbanna, VA. It received its IRS tax-exemption ruling in November 2004, 22 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 March 2024, Bay Aging Apartments Westmoreland Inc reported income of $192k and spending of $226k, spending 118% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $169k to $192k (+14%), an average of +3.2% a year. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bay Aging Apartments Westmoreland Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 52nd percentile within VA. Charities of a similar size with the same main cause include Philippians Place ($192k), International Women Associates Inc ($192k) and Homes for the Exceptional IV Inc ($192k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $13k. At year end it held assets of $1.3m against liabilities of $26k, net assets of $1.3m.

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.