Banjo Lane Apartments Inc

Analysis

Banjo Lane Apartments Inc is a registered charity in United States, based in Centreville, MD. It received its IRS tax-exemption ruling in May 2009, 17 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Banjo Lane Apartments Inc reported income of $71k and spending of $104k, spending 147% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $59k to $71k (+20%), an average of +4.7% a year. Over the whole period it spent 151% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Banjo Lane Apartments Inc sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 30th percentile within MD. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($71k), Abcap Housing M Inc ($71k) and Penn Apartments Corporation ($71k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. At year end it held assets of $1.3m against liabilities of $1.2m, net assets of $152k.

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.