Basic Independence Apartments Inc

Analysis

Basic Independence Apartments Inc is a registered charity in United States, based in Mountain Home, AR. It received its IRS tax-exemption ruling in November 1988, 38 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 June 2023, Basic Independence Apartments Inc reported income of $72k and spending of $80k, spending 112% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $65k to $72k (+9.9%), an average of +9.9% a year. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Basic Independence Apartments Inc sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within AR. Charities of a similar size with the same main cause include Fox River Affordable Housing Corp ($72k), Lagrange Troup County Homeless Coalition Inc ($72k) and Lydias Gate Inc ($72k).

On its Form 990-EZ for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $329k against liabilities of $494k, net assets of -$165k.