Abundant Life Apartments Inc
Abundant Life Apartments Inc. consistently operates at a deficit with declining assets and high liabilities.
EIN: 204715413 · Milwaukee, WI · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $162K |
| Total Expenses | $259K |
| Program Spending | 80% |
| Net Assets | $-1,206,397 |
| Transparency Score | 55/100 |
Is Abundant Life Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Abundant Life Apartments Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Abundant Life Apartments Inc
Abundant Life Apartments Inc (EIN: 204715413) is a nonprofit organization based in Milwaukee, WI, classified under NTEE code L21. The organization reported total revenue of $162K and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Abundant Life Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Abundant Life Apartments Inc is a small nonprofit that has been operating for 19 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 5.9%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $162K |
| Total Expenses | $259K |
| Surplus / Deficit | $-96,413 |
| Total Assets | $1.6M |
| Total Liabilities | $2.8M |
| Net Assets | $-1,206,397 |
| Operating Margin | -59.4% |
| Debt-to-Asset Ratio | 174.3% |
| Months of Reserves | 75.3 months |
Financial Health Grade: C
In 2021, Abundant Life Apartments Inc reported a deficit of $96K with expenses exceeding revenue, holds 75.3 months of operating reserves (strong position), has a debt-to-asset ratio of 174.3% (high leverage).
Financial Trends
Over 11 years of filings (2011–2021), Abundant Life Apartments Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +41.3% | +33.9% | -5.0% |
| 2020 | +4.3% | -6.2% | -4.6% |
| 2019 | +3.2% | +2.7% | -5.1% |
| 2018 | +4.2% | -1.5% | -4.5% |
| 2017 | -10.8% | -5.0% | -4.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Abundant Life Apartments Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Abundant Life Apartments Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $96K, with expenses exceeding revenue.
- Debt-to-asset ratio: 174.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either uncompensated or compensated through mechanisms not categorized as officer compensation on the 990, which is a positive sign for a small organization with limited revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Abundant Life Apartments Inc's IRS 990 filings:
- Consistent operational deficits (e.g., $258,619 expenses vs. $162,206 revenue in 2021)
- Declining asset base over time (from $2,424,407 in 2012 to $1,623,497 in 2021)
- High liabilities relative to assets, indicating a negative net asset position (e.g., $1,623,497 assets vs. $2,829,894 liabilities in 2021)
Strengths
The following positive indicators were identified for Abundant Life Apartments Inc:
- Consistent IRS 990 filing history, indicating transparency
- Reported 0% officer compensation across all filings, suggesting volunteer leadership or efficient compensation practices
Frequently Asked Questions about Abundant Life Apartments Inc
Is Abundant Life Apartments Inc a legitimate charity?
Abundant Life Apartments Inc (EIN: 204715413) is a registered tax-exempt nonprofit based in Wisconsin. Our AI analysis gives it a Mission Score of 55/100. It has 11 years of IRS 990 filings on record. Total revenue: $162K. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does Abundant Life Apartments Inc spend its money?
Abundant Life Apartments Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Abundant Life Apartments Inc tax-deductible?
Abundant Life Apartments Inc is registered as a tax-exempt nonprofit (EIN: 204715413). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Abundant Life Apartments Inc's spending goes to programs?
Abundant Life Apartments Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Abundant Life Apartments Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Abundant Life Apartments Inc is near average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Abundant Life Apartments Inc located?
Abundant Life Apartments Inc is headquartered in Milwaukee, Wisconsin and files with the IRS under EIN 204715413. It is classified under NTEE code L21.
How many years of IRS 990 filings does Abundant Life Apartments Inc have?
Abundant Life Apartments Inc has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $162K in total revenue.
How does Abundant Life Apartments Inc. cover its consistent operational deficits?
The organization consistently spends more than it earns, for example, $258,619 in expenses against $162,206 in revenue in 2021. This suggests they are either drawing down on existing assets, receiving non-revenue contributions not detailed in the provided data, or incurring debt to cover operational costs.
What is the long-term sustainability plan given the declining assets and high liabilities?
The organization's assets have decreased from $2,424,407 in 2012 to $1,623,497 in 2021, while liabilities remain high at approximately $2.8 million. This trend indicates a negative net asset position and raises concerns about long-term financial viability without a clear strategy to increase revenue or reduce liabilities.
Are there any plans to increase revenue streams to match expenses?
The provided data shows a consistent pattern of expenses exceeding revenue. For example, in 2021, expenses were $258,619 while revenue was $162,206. There is no information in the provided data about specific plans to increase revenue.
Filing History
IRS 990 filing history for Abundant Life Apartments Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Abundant Life Apartments Inc's revenue has grown by 77.1%, moving from $92K to $162K. Total assets decreased by 35.4% over the same period, from $2.5M to $1.6M. Total functional expenses rose by 35.8%, from $190K to $259K. In its most recent filing year (2021), Abundant Life Apartments Inc reported a deficit of $96K, with expenses exceeding revenue. The organization holds $2.8M in liabilities against $1.6M in assets (debt-to-asset ratio: 174.3%), resulting in net assets of $-1,206,397.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $162K | $259K | $1.6M | $2.8M | — | — |
| 2020 | $115K | $193K | $1.7M | $2.8M | — | — |
| 2019 | $110K | $206K | $1.8M | $2.8M | — | View 990 |
| 2018 | $107K | $200K | $1.9M | $2.8M | — | View 990 |
| 2017 | $102K | $203K | $2.0M | $2.8M | — | View 990 |
| 2016 | $115K | $214K | $2.1M | $2.8M | — | View 990 |
| 2015 | $124K | $210K | $2.2M | $2.8M | — | View 990 |
| 2014 | $110K | $194K | $2.3M | $2.8M | — | View 990 |
| 2013 | $109K | $190K | $2.3M | $2.8M | — | View 990 |
| 2012 | $94K | $183K | $2.4M | $2.8M | — | View 990 |
| 2011 | $92K | $190K | $2.5M | $2.8M | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $162K, expenses of $259K, and assets of $1.6M (revenue +41.3% year-over-year).
- 2020: Revenue of $115K, expenses of $193K, and assets of $1.7M (revenue +4.3% year-over-year).
- 2019: Revenue of $110K, expenses of $206K, and assets of $1.8M (revenue +3.2% year-over-year).
- 2018: Revenue of $107K, expenses of $200K, and assets of $1.9M (revenue +4.2% year-over-year).
- 2017: Revenue of $102K, expenses of $203K, and assets of $2.0M (revenue -10.8% year-over-year).
- 2016: Revenue of $115K, expenses of $214K, and assets of $2.1M (revenue -7.5% year-over-year).
- 2015: Revenue of $124K, expenses of $210K, and assets of $2.2M (revenue +12.2% year-over-year).
- 2014: Revenue of $110K, expenses of $194K, and assets of $2.3M (revenue +1.6% year-over-year).
- 2013: Revenue of $109K, expenses of $190K, and assets of $2.3M (revenue +15.8% year-over-year).
- 2012: Revenue of $94K, expenses of $183K, and assets of $2.4M (revenue +2.5% year-over-year).
- 2011: Revenue of $92K, expenses of $190K, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Abundant Life Apartments Inc:
Data Sources and Methodology
This transparency report for Abundant Life Apartments Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.