George Gervin Retirement Apartments

Analysis

George Gervin Retirement Apartments is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in December 2014, 12 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, George Gervin Retirement Apartments reported income of $379k and spending of $462k, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $294k to $379k (+29%), an average of +6.5% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 129% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, George Gervin Retirement Apartments sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 70th percentile within TX. Charities of a similar size with the same main cause include Community Development Alternatives Inc ($379k), GTBL Development Corp ($379k) and Herkimer Affordable Housing Inc ($379k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $101k. At year end it held assets of $4.2m against liabilities of $37k, net assets of $4.2m.

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.