Fairground Apartments Inc

Analysis

Fairground Apartments Inc is a registered charity in United States, based in Cookeville, TN. It received its IRS tax-exemption ruling in May 2002, 24 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 2024, Fairground Apartments Inc reported income of $94k and spending of $107k, spending 113% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $70k to $94k (+34%), an average of +7.6% a year. The sharpest change came in the year to June 2024, when income rose by 29%. Over the whole period it spent 144% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Fairground Apartments Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 35th percentile within TN. Charities of a similar size with the same main cause include Rappahannock Elder Housing Corp ($94k), Cumberland Senior Housing Assoc ($94k) and Residence Connection Inc ($94k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 31% and program service revenue 47% of the total. At year end it held assets of $604k against liabilities of $25k, net assets of $578k.

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.