Magnolia Tree Apartments Inc

Analysis

Magnolia Tree Apartments Inc is a registered charity in United States, based in Bakersfield, CA. It received its IRS tax-exemption ruling in November 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Magnolia Tree Apartments Inc reported income of $195k and spending of $253k, spending 130% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $147k to $195k (+33%), an average of +7.3% a year. The sharpest change came in the year to June 2024, when income rose by 19%. 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, Magnolia Tree Apartments Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 55th percentile within CA. Charities of a similar size with the same main cause include Independence Hill Inc ($195k), Holy Trinity Properties Inc ($195k) and Indian Town Home Association ($195k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $43k. At year end it held assets of $365k against liabilities of $1.9m, net assets of -$1.5m.

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.