Merit Hall Apartments Inc

Analysis

Merit Hall Apartments Inc is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in June 1989, 37 years ago. 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, Merit Hall Apartments Inc reported income of $215k and spending of $304k, spending 142% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $204k to $215k (+5.4%), an average of +1.3% a year. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Merit Hall Apartments Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 58th percentile within CA. Charities of a similar size with the same main cause include Friends of the Hermitage ($215k), Carol McLeod Ministries Inc ($215k) and Senior Services Center Inc ($215k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. At year end it held assets of $1.0m against liabilities of $2.8m, net assets of -$1.8m.

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.