Cedar Ridge Apartments Inc

Analysis

Cedar Ridge Apartments Inc is a registered charity in United States, based in Melbourne, AR. It received its IRS tax-exemption ruling in December 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 June 2023, Cedar Ridge Apartments Inc reported income of $69k and spending of $90k, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $58k to $69k (+18%), an average of +4.3% a year. Over the whole period it spent 131% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cedar Ridge Apartments Inc sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 25th percentile within AR. Charities of a similar size with the same main cause include Smithland Elderly Apartments Inc ($69k), Paragon Homes for Elderly Inc ($69k) and Claremont Manor Club Incorporated ($69k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 67% of the total. At year end it held assets of $504k against liabilities of $13k, net assets of $492k.

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.