JL Young Apartments

Analysis

JL Young Apartments is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in November 2017, 9 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 March 2023, JL Young Apartments reported income of $4.1m and spending of $4.8m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to March 2023, income grew from $3.8m to $4.1m (+7.8%), an average of +1.9% a year. The sharpest change came in the year to March 2021, when income rose by 312%. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, JL Young Apartments sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Newvue Communities Inc ($4.1m), Homespace Corporation ($4.1m) and Housing Trust Fund Ventura County ($4.1m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. At year end it held assets of $9.5m against liabilities of $389k, net assets of $9.1m.

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.