Forest Meadows Apartments Inc

Analysis

Forest Meadows Apartments Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in June 1994, 32 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, Forest Meadows Apartments Inc reported income of $99k and spending of $140k, spending 141% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $87k to $99k (+13%), an average of +3.2% a year. The sharpest change came in the year to June 2021, when income rose by 53%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Forest Meadows Apartments Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 40th percentile within FL. Charities of a similar size with the same main cause include Black Rock Ravenden Area Development Inc ($99k), American Covenant Senior Housing Foundation Inc ($99k) and Maxcen Housing Society Inc New York Branch ($99k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 49% of the total. Other salaries and wages came to $7,919. At year end it held assets of $441k against liabilities of $1.1m, net assets of -$615k.