Bay Aging Apartments Kilmarnock Inc

Analysis

Bay Aging Apartments Kilmarnock Inc is a registered charity in United States, based in Urbanna, VA. 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Bay Aging Apartments Kilmarnock Inc reported income of $307k and spending of $492k, spending 160% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $264k to $307k (+16%), an average of +3.9% a year. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bay Aging Apartments Kilmarnock Inc sits at the 47th 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 62nd percentile within VA. Charities of a similar size with the same main cause include Apple Valley Senior Housing Corp ($307k), Butler County Homeownership Corporation ($308k) and Blair Apartments Inc ($307k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $20k. At year end it held assets of $2.7m against liabilities of $57k, net assets of $2.7m.

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.