Lincoln School Senior Apartments

Analysis

Lincoln School Senior Apartments is a registered charity in United States, based in Stanwood, WA. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Lincoln School Senior Apartments reported income of $298k and spending of $386k, spending 130% of what it took in. Across the 6 years on record, from March 2019 to March 2024, income grew from $202k to $298k (+47%), an average of +8.1% a year. The sharpest change came in the year to March 2023, when income rose by 16%. Over the whole period it spent 141% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lincoln School Senior Apartments sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within WA. Charities of a similar size with the same main cause include Bethany House of Cumberland County Inc ($298k), Wisconsin Business Innovation Corporation ($298k) and Christian Village of Western Virginia Inc ($298k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 20% and program service revenue 80% of the total. Other salaries and wages came to $42k. At year end it held assets of $2.0m against liabilities of $3.9m, net assets of -$1.9m.

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.