Riverside Park Methodist Apartments Inc

Analysis

Riverside Park Methodist Apartments Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in July 1980, 46 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Riverside Park Methodist Apartments Inc reported income of $1.2m and spending of $1.4m, spending 116% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.4m to $1.2m (-15%), an average of -3.9% a year. The sharpest change came in the year to September 2023, when income dropped by 19%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Riverside Park Methodist Apartments Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within FL. Charities of a similar size with the same main cause include Charlestown Economic Development Corp ($1.2m), Long Island Partnership Housing Development Fund Co Inc ($1.2m) and Boles Childrens Home Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 73% and program service revenue 26% of the total. Other salaries and wages came to $261k. At year end it held assets of $1.4m against liabilities of $2.6m, net assets of -$1.2m.