American Heritage Apartments Inc

Analysis

American Heritage Apartments Inc is a registered charity in United States, based in Texarkana, TX. It received its IRS tax-exemption ruling in April 1994, 32 years ago. 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, American Heritage Apartments Inc reported income of $3.5m and spending of $5.1m, spending 148% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $39.2m to $3.5m (-91%), an average of -55% a year. The sharpest change came in the year to June 2021, when income dropped by 92%. Over the whole period it spent 44% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, American Heritage Apartments Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within TX. Charities of a similar size with the same main cause include National Alliance on Mental Illness Hawaii ($3.5m), Millennial Action Project Dba Future Caucus ($3.5m) and Centro de Los Derechos Del Migrante Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 52% of the total. Compensation of current officers, directors and key employees was $868k (17% of expenses). Other salaries and wages came to $904k. At year end it held assets of $44.9m against liabilities of $1.3m, net assets of $43.5m. It reported 38 employees.

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.