Serenity Apartments Inc

Analysis

Serenity Apartments Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in October 2006, 20 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 June 2023, Serenity Apartments Inc reported income of $470k and spending of $352k, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $320k to $470k (+47%), an average of +10% a year. The sharpest change came in the year to June 2020, when income rose by 287%. Over the whole period it spent 59% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Serenity Apartments Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within KY. Charities of a similar size with the same main cause include Connections of Cumberland County Inc ($470k), Luther Crest Inc ($470k) and Amigos of Hidalgo County ($470k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. At year end it held assets of $2.1m against liabilities of $325k, net assets of $1.8m.