Cedar Street Senior Apartments Inc

Analysis

Cedar Street Senior Apartments Inc is a registered charity in United States, based in Garberville, CA. It received its IRS tax-exemption ruling in November 1999, 27 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 2024, Cedar Street Senior Apartments Inc reported income of $131k and spending of $179k, spending 137% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $111k to $131k (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2022, when income rose by 23%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cedar Street Senior Apartments Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 46th percentile within CA. Charities of a similar size with the same main cause include Annabels Closet Inc ($131k), Plan Homes Inc ($131k) and Citywide Council of Syracuse Low Income Housing Residents Inc ($131k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 80% and program service revenue 20% of the total. Other salaries and wages came to $41k. At year end it held assets of $897k against liabilities of $1.5m, net assets of -$638k. It reported 2 employees.

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.