Bay Pointe Apartments Inc
Bay Pointe Apartments Inc. consistently operates at a deficit, eroding its asset base over the past decade.
EIN: 204264152 · Salt Lick, KY · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $148K |
| Total Expenses | $188K |
| Program Spending | 80% |
| Net Assets | $1.4M |
| Transparency Score | 55/100 |
Is Bay Pointe Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bay Pointe Apartments Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bay Pointe Apartments Inc
Bay Pointe Apartments Inc (EIN: 204264152) is a nonprofit organization based in Salt Lick, KY, classified under NTEE code L20. The organization reported total revenue of $148K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bay Pointe Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bay Pointe Apartments Inc is a small nonprofit that has been operating for 20 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 5.8%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $148K |
| Total Expenses | $188K |
| Surplus / Deficit | $-40,415 |
| Total Assets | $1.4M |
| Total Liabilities | $17K |
| Net Assets | $1.4M |
| Operating Margin | -27.3% |
| Debt-to-Asset Ratio | 1.2% |
| Months of Reserves | 87.4 months |
Financial Health Grade: B
In 2024, Bay Pointe Apartments Inc reported a deficit of $40K with expenses exceeding revenue, holds 87.4 months of operating reserves (strong position), has a debt-to-asset ratio of 1.2% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Bay Pointe Apartments Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +11.6% | -13.4% | -2.6% |
| 2023 | +5.4% | +10.3% | -5.5% |
| 2022 | -5.0% | -2.9% | -4.6% |
| 2021 | +25.4% | +3.4% | -4.6% |
| 2020 | -9.5% | +9.4% | -5.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Bay Pointe 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: 20%
- programs: 80%
- fundraising: 0%
According to IRS 990 filings, Bay Pointe Apartments Inc allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $40K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all filings, indicating that officers are either unpaid volunteers or their compensation is categorized differently and not disclosed as 'officer compensation' on the 990 form.
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 Bay Pointe Apartments Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue in all reported periods)
- Declining asset base over the past decade
- Lack of detailed expense breakdown to assess spending efficiency
Strengths
The following positive indicators were identified for Bay Pointe Apartments Inc:
- Consistent filing of IRS Form 990s, indicating basic compliance and transparency
- Low liabilities relative to assets ($16,552 liabilities vs. $1,372,464 assets in 2024)
- Reported 0% officer compensation, suggesting a volunteer-led or very lean leadership structure
Frequently Asked Questions about Bay Pointe Apartments Inc
Is Bay Pointe Apartments Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bay Pointe Apartments Inc (EIN: 204264152) some concerns. Mission Score: 55/100. 3 red flags identified, 3 strengths noted.
How does Bay Pointe Apartments Inc spend its money?
Bay Pointe Apartments Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bay Pointe Apartments Inc tax-deductible?
Bay Pointe Apartments Inc is registered as a tax-exempt nonprofit (EIN: 204264152). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Bay Pointe Apartments Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Bay Pointe Apartments Inc is near average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Bay Pointe Apartments Inc located?
Bay Pointe Apartments Inc is headquartered in Salt Lick, Kentucky and files with the IRS under EIN 204264152. It is classified under NTEE code L20.
How many years of IRS 990 filings does Bay Pointe Apartments Inc have?
Bay Pointe Apartments Inc has 14 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 $148K in total revenue.
Is Bay Pointe Apartments Inc. financially sustainable?
Based on the consistent operational deficits where expenses exceed revenue (e.g., $188,436 expenses vs. $148,021 revenue in 2024), the organization's current financial model does not appear sustainable in the long term without significant changes to revenue generation or expense management.
Why are the organization's assets declining?
The organization's assets have steadily declined from $1,996,584 in 2015 to $1,372,464 in 2024, primarily due to consistent annual operating deficits where expenses have exceeded revenue in every reported period.
What is the nature of the organization's expenses?
Without a detailed breakdown of expenses from the 990, it's difficult to pinpoint the exact nature. However, given its NTEE code (L20 - Housing) and consistent deficits, it's likely that program-related housing costs and administrative overhead constitute the majority of its spending.
Filing History
IRS 990 filing history for Bay Pointe Apartments Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Bay Pointe Apartments Inc's revenue has grown by 107.7%, moving from $71K to $148K. Total assets decreased by 40.6% over the same period, from $2.3M to $1.4M. Total functional expenses rose by 25.7%, from $150K to $188K. In its most recent filing year (2024), Bay Pointe Apartments Inc reported a deficit of $40K, with expenses exceeding revenue. The organization holds $17K in liabilities against $1.4M in assets (debt-to-asset ratio: 1.2%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $148K | $188K | $1.4M | $17K | — | — |
| 2023 | $133K | $217K | $1.4M | $12K | — | View 990 |
| 2022 | $126K | $197K | $1.5M | $10K | — | View 990 |
| 2021 | $133K | $203K | $1.6M | $9K | — | View 990 |
| 2020 | $106K | $196K | $1.6M | $15K | — | View 990 |
| 2019 | $117K | $180K | $1.7M | $20K | — | View 990 |
| 2018 | $115K | $180K | $1.8M | $14K | — | View 990 |
| 2017 | $112K | $179K | $1.9M | $18K | — | View 990 |
| 2016 | $110K | $184K | $1.9M | $15K | — | View 990 |
| 2015 | $105K | $174K | $2.0M | $14K | — | View 990 |
| 2014 | $89K | $161K | $2.1M | $12K | — | View 990 |
| 2013 | $82K | $195K | $2.1M | $11K | — | View 990 |
| 2012 | $105K | $169K | $2.2M | $13K | — | View 990 |
| 2011 | $71K | $150K | $2.3M | $8K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $148K, expenses of $188K, and assets of $1.4M (revenue +11.6% year-over-year).
- 2023: Revenue of $133K, expenses of $217K, and assets of $1.4M (revenue +5.4% year-over-year).
- 2022: Revenue of $126K, expenses of $197K, and assets of $1.5M (revenue -5.0% year-over-year).
- 2021: Revenue of $133K, expenses of $203K, and assets of $1.6M (revenue +25.4% year-over-year).
- 2020: Revenue of $106K, expenses of $196K, and assets of $1.6M (revenue -9.5% year-over-year).
- 2019: Revenue of $117K, expenses of $180K, and assets of $1.7M (revenue +1.3% year-over-year).
- 2018: Revenue of $115K, expenses of $180K, and assets of $1.8M (revenue +3.1% year-over-year).
- 2017: Revenue of $112K, expenses of $179K, and assets of $1.9M (revenue +2.1% year-over-year).
- 2016: Revenue of $110K, expenses of $184K, and assets of $1.9M (revenue +4.9% year-over-year).
- 2015: Revenue of $105K, expenses of $174K, and assets of $2.0M (revenue +17.1% year-over-year).
- 2014: Revenue of $89K, expenses of $161K, and assets of $2.1M (revenue +9.3% year-over-year).
- 2013: Revenue of $82K, expenses of $195K, and assets of $2.1M (revenue -22.0% year-over-year).
- 2012: Revenue of $105K, expenses of $169K, and assets of $2.2M (revenue +46.9% year-over-year).
- 2011: Revenue of $71K, expenses of $150K, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bay Pointe Apartments Inc:
Data Sources and Methodology
This transparency report for Bay Pointe 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.