Shady Pines Apartments Inc

Analysis

Shady Pines Apartments Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in March 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 June 2023, Shady Pines Apartments Inc reported income of $57k and spending of $69k, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $49k to $57k (+16%), an average of +3.7% a year. Over the whole period it spent 134% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Shady Pines Apartments Inc sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 26th percentile within FL. Charities of a similar size with the same main cause include Be Great Do Great Foundation ($57k), Home Buyers Assistance Foundation a Ne Non Profit Corp ($57k) and Cleveland American Veterans Association Inc ($57k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 44% of the total. Other salaries and wages came to $5,973. At year end it held assets of $277k against liabilities of $513k, net assets of -$236k.

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.