Cedar Gardens Apartments

Analysis

Cedar Gardens Apartments is a registered charity in United States, based in Stockton, CA. It received its IRS tax-exemption ruling in May 1995, 31 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 December 2023, Cedar Gardens Apartments reported income of $868k and spending of $993k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $760k to $868k (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2023, when income rose by 15%. Over the whole period it spent 135% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cedar Gardens Apartments sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Sunset Charities Housing Corporation ($868k), Pilgrim Towers Inc ($869k) and Downtown Manhattan Community Development Corporation ($867k).

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 $5.6m against liabilities of $1.4m, 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.