Armenia-Eddy Apartments Inc

Analysis

Armenia-Eddy Apartments Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in May 1999, 27 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 December 2023, Armenia-Eddy Apartments Inc reported income of $182k and spending of $185k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $170k to $182k (+7.3%), an average of +1.8% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Armenia-Eddy Apartments Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 55th percentile within FL. Charities of a similar size with the same main cause include Centerstone Unlimited ($182k), Jefferson Terrace Village of New Iberia Inc ($182k) and Hamilton Housing Development Company Incorporated ($182k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. Other salaries and wages came to $30k. At year end it held assets of $650k against liabilities of $1.2m, net assets of -$591k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.