Fountain West Apartments Inc

Analysis

Fountain West Apartments Inc is a registered charity in United States, based in San Rafael, CA. It received its IRS tax-exemption ruling in May 1996, 30 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 March 2024, Fountain West Apartments Inc reported income of $758k and spending of $987k, spending 130% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $662k to $758k (+14%), an average of +3.4% a year. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Fountain West Apartments Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Houston RHF Housing Inc ($757k), Sherman Oaks Senior Citizen Housing Corporation ($758k) and Bennington Coalition for the Homeless ($757k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 39% and program service revenue 61% of the total. Other salaries and wages came to $145k. At year end it held assets of $3.0m against liabilities of $2.0m, net assets of $975k.

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.