Olive Avenue Apartments Inc

Analysis

Olive Avenue 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 June 2024, Olive Avenue Apartments Inc reported income of $223k and spending of $250k, spending 112% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $167k to $223k (+33%), an average of +7.4% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Olive Avenue Apartments Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 58th percentile within CA. Charities of a similar size with the same main cause include Accessible Country Trail Inc ($223k), Ellenburg Housing Developement Fund Company Inc ($223k) and Covered Bridge Affordable Housing Corporation ($223k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 63% and program service revenue 36% of the total. Other salaries and wages came to $47k. At year end it held assets of $1.3m against liabilities of $1.5m, net assets of -$256k.