Louie Street Apartments Inc

Analysis

Louie Street Apartments Inc is a registered charity in United States, based in Lake Charles, LA. It received its IRS tax-exemption ruling in September 2004, 22 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, Louie Street Apartments Inc reported income of $162k and spending of $229k, spending 141% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $150k to $162k (+8.4%), an average of +2.7% a year. The sharpest change came in the year to June 2022, when income rose by 175%. Over the whole period it spent 146% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Louie Street Apartments Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 48th percentile within LA. Charities of a similar size with the same main cause include Lewis-Toran Retirement Community Inc ($162k), Sheperds Place Foundation ($162k) and Ahepa 371 Inc ($162k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $36k. At year end it held assets of $1.4m against liabilities of $1.4m, net assets of -$3,446.

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.