New Oaks Affordable Housing LLC

Analysis

New Oaks Affordable Housing LLC is a registered charity in United States, based in Oakmont, PA. It received its IRS tax-exemption ruling in July 2019, 7 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 December 2023, New Oaks Affordable Housing LLC reported income of $327k and spending of $390k, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $301k to $327k (+8.7%), an average of +2.1% a year. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Oaks Affordable Housing LLC sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 61st percentile within PA. Charities of a similar size with the same main cause include St Luke Housing Ministry Inc ($326k), Red Bridge Place Housing Corporation ($327k) and Ccu Student Housing Foundation ($326k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $331k against liabilities of $0, net assets of $331k.

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.