Union Plaza Apartments

Analysis

Union Plaza Apartments is a registered charity in United States, based in Santa Maria, CA. It received its IRS tax-exemption ruling in September 1972, 54 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 June 2023, Union Plaza Apartments reported income of $2.8m and spending of $2.0m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $2.8m (+14%), an average of +3.3% a year. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Union Plaza Apartments sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include St Francis Commons Inc ($2.8m), Southwest Florida Affordablehousing Choice Foundation Inc ($2.8m) and Housing for Independent Living Incorporated ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $11k (0.5% of expenses). Other salaries and wages came to $1,200. At year end it held assets of $9.5m against liabilities of $721k, net assets of $8.8m.