Mills Center Apartments Inc

Analysis

Mills Center Apartments Inc is a registered charity in United States, based in Malvern, AR. It received its IRS tax-exemption ruling in June 1997, 29 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 2024, Mills Center Apartments Inc reported income of $157k and spending of $179k, spending 114% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $69k to $157k (+129%), an average of +18% a year. The sharpest change came in the year to June 2020, when income rose by 51%. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mills Center Apartments Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 48th percentile within AR. Charities of a similar size with the same main cause include Shoals Senior Housing Inc ($157k), Eh2 Inc ($157k) and Ever Dawn Foundation ($157k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $45k. At year end it held assets of $484k against liabilities of $18k, net assets of $466k.

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.