The First Apartments
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2012 | 608,745 | 539,692 | 69,053 | -3.0 | 36% |
| 2013 | 616,448 | 537,936 | 78,512 | -1.2 | 35% |
| 2014 | 626,505 | 559,196 | 67,309 | 0.3 | 35% |
| 2015 | 644,596 | 572,594 | 72,002 | 1.8 | 35% |
| 2016 | 643,956 | 574,589 | 69,367 | 3.2 | 34% |
| 2017 | 661,823 | 613,177 | 48,646 | 4.0 | 34% |
| 2018 | 664,747 | 585,150 | 79,597 | 5.8 | 34% |
| 2019 | 638,061 | 597,681 | 40,380 | 6.5 | 34% |
| 2020 | 652,004 | 585,025 | 66,979 | 8.0 | 33% |
| 2021 | 637,040 | 597,083 | 39,957 | 8.6 | 34% |
| 2022 | 644,537 | 608,775 | 35,762 | 9.2 | 28% |
| 2023 | 669,160 | 662,784 | 6,376 | 8.5 | 29% |
In its most recent public year (2023), this organization brought in $6,376 more than it spent. Its reserves stood at about 8.5 months of spending, up from -3 in 2012. Staff pay was 29% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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