Shoals Presbyterian Apartments Inc

Analysis

Shoals Presbyterian Apartments Inc is a registered charity in United States, based in Florence, AL. It received its IRS tax-exemption ruling in July 1980, 46 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 2024, Shoals Presbyterian Apartments Inc reported income of $1.3m and spending of $1.2m, spending 91% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.2m to $1.3m (+12%), an average of +2.9% a year. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Shoals Presbyterian Apartments Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 86th percentile within AL. Charities of a similar size with the same main cause include Shelter Care Ministries ($1.3m), Clearwater Homes Inc ($1.3m) and Historic Chicago Bungalow Association ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $2.3m against liabilities of $3.7m, net assets of -$1.4m.