Redwood Cove Senior Apartments

Analysis

Redwood Cove Senior Apartments is a registered charity in United States, based in Crescent City, CA. It received its IRS tax-exemption ruling in March 1995, 31 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 2023, Redwood Cove Senior Apartments reported income of $525k and spending of $810k, spending 154% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $375k to $525k (+40%), an average of +8.8% a year. The sharpest change came in the year to June 2020, when income rose by 20%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Redwood Cove Senior Apartments sits at the 59th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within CA. Charities of a similar size with the same main cause include Parree Porter Sr Housing Inc ($524k), Habitat for Humanity International Inc ($525k) and Lewiston-Auburn Area Housing Development Corporation ($524k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. Other salaries and wages came to $278k. At year end it held assets of $1.4m against liabilities of $3.1m, net assets of -$1.7m.

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.