Independent Apartments Inc

Analysis

Independent Apartments Inc is a registered charity in United States, based in Germantown, TN. It received its IRS tax-exemption ruling in April 1986, 40 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 2024, Independent Apartments Inc reported income of $367k and spending of $362k, spending 99% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $305k to $367k (+20%), an average of +4.7% a year. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Independent Apartments Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 66th percentile within TN. Charities of a similar size with the same main cause include Maryland Black Caucus Foundation Inc ($367k), Southern Maryland Youth Organization Inc ($367k) and Promoting Awareness Victim Empowerment ($366k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 15% and program service revenue 84% of the total. Other salaries and wages came to $10k. At year end it held assets of $634k against liabilities of $1.0m, net assets of -$377k. It reported 3 employees.