Lakeland Presbyterian Apartments Inc

Analysis

Lakeland Presbyterian Apartments Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in July 1969, 57 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 September 2024, Lakeland Presbyterian Apartments Inc reported income of $1.8m and spending of $1.6m, spending 88% of its income. Across the 6 years on record, from September 2019 to September 2024, income grew from $1.4m to $1.8m (+31%), an average of +5.6% a year. The sharpest change came in the year to September 2024, when income rose by 16%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lakeland Presbyterian Apartments Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Rockland Housing Action Coalition Inc ($1.8m), Memphis Jewish Housing Development Corp ($1.8m) and Community Housing Services ($1.8m).

On its Form 990 for the period ending September 2024, revenue came from contributions and grants 3.4% and program service revenue 95% of the total. Other salaries and wages came to $371k. At year end it held assets of $2.4m against liabilities of $119k, net assets of $2.3m. It reported 11 employees.