Golden Age Apartments Inc
Golden Age Apartments Inc. consistently operates at a deficit, drawing down assets despite zero officer compensation.
EIN: 208547697 · Pine Bluff, AR · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $107K |
| Total Expenses | $150K |
| Program Spending | 90% |
| Net Assets | $988K |
| Transparency Score | 85/100 |
Is Golden Age Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Golden Age Apartments Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Golden Age Apartments Inc
Golden Age Apartments Inc (EIN: 208547697) is a nonprofit organization based in Pine Bluff, AR, classified under NTEE code L22. The organization reported total revenue of $107K and total assets of $948K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Golden Age Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Golden Age Apartments Inc is a small nonprofit that has been operating for 12 years, with 15 years of IRS 990 filings on record (2008–2023). Revenue has grown at a compound annual rate of -5.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $113K |
| Total Expenses | $150K |
| Surplus / Deficit | $-37,163 |
| Total Assets | $994K |
| Total Liabilities | $5K |
| Net Assets | $988K |
| Operating Margin | -32.8% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 79.3 months |
Financial Health Grade: B
In 2023, Golden Age Apartments Inc reported a deficit of $37K with expenses exceeding revenue, holds 79.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 15 years of filings (2008–2023), Golden Age Apartments Inc's revenue has declined at a compound annual growth rate (CAGR) of -5.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.4% | +3.8% | -3.6% |
| 2022 | -3.8% | -0.9% | -4.1% |
| 2021 | +7.8% | +5.4% | -3.7% |
| 2020 | -7.5% | +0.0% | -3.5% |
| 2019 | -2.4% | +0.2% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
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 Golden Age Apartments Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Golden Age Apartments Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $37K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating a volunteer-led organization, which is highly commendable for directing all funds to its mission.
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 Golden Age Apartments Inc's IRS 990 filings:
- Consistent deficit spending, with expenses exceeding revenue in all recent periods (e.g., $150,381 expenses vs. $113,218 revenue in 2023).
- Declining asset base over the past decade, from $1,301,050 in 2014 to $993,549 in 2023, indicating reliance on reserves to cover operational shortfalls.
Strengths
The following positive indicators were identified for Golden Age Apartments Inc:
- Zero officer compensation reported across all filings, demonstrating a highly efficient and volunteer-driven leadership model.
- Very low liabilities, consistently below $10,000, indicating responsible debt management.
- Strong program focus, with virtually all spending directed towards its mission and necessary administrative overhead due to no officer compensation and minimal fundraising.
- Extensive filing history (15 filings) demonstrates a commitment to transparency and compliance.
Frequently Asked Questions about Golden Age Apartments Inc
Is Golden Age Apartments Inc a legitimate charity?
Golden Age Apartments Inc (EIN: 208547697) is a registered tax-exempt nonprofit based in Arkansas. Our AI analysis gives it a Mission Score of 85/100. It has 15 years of IRS 990 filings on record. Total revenue: $107K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Golden Age Apartments Inc spend its money?
Golden Age Apartments Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Golden Age Apartments Inc tax-deductible?
Golden Age Apartments Inc is registered as a tax-exempt nonprofit (EIN: 208547697). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Golden Age Apartments Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Golden Age Apartments Inc is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Golden Age Apartments Inc located?
Golden Age Apartments Inc is headquartered in Pine Bluff, Arkansas and files with the IRS under EIN 208547697. It is classified under NTEE code L22.
How many years of IRS 990 filings does Golden Age Apartments Inc have?
Golden Age Apartments Inc has 15 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 $107K in total revenue.
Is Golden Age Apartments Inc. financially sustainable in the long term?
The organization has consistently spent more than it earns, with expenses exceeding revenue by approximately $30,000-$40,000 annually in recent years (e.g., $150,381 expenses vs. $113,218 revenue in 2023). This trend has led to a decline in assets from over $1.3 million in 2014 to under $1 million in 2023, raising concerns about long-term financial sustainability if current spending patterns continue without increased revenue.
How does the lack of officer compensation impact the organization?
The absence of officer compensation (0% reported) is a significant strength, indicating that leadership is volunteer-based. This practice ensures that a greater proportion of the organization's funds are directly allocated to program services and operational costs rather than executive salaries, enhancing spending efficiency and donor trust.
What is the primary use of the organization's funds?
Given its NTEE code (L22 - Housing for the Elderly, Disabled, or Poor) and the consistent operational expenses, the primary use of funds is likely for maintaining and operating the apartment facilities to provide housing services. With zero fundraising expenses and no officer compensation, the vast majority of its budget is directed towards its programmatic mission and necessary administrative overhead.
Filing History
IRS 990 filing history for Golden Age Apartments Inc showing financial trends over 15 years of public records:
Over 15 years of IRS 990 filings (2008–2023), Golden Age Apartments Inc's revenue has declined by 55%, moving from $252K to $113K. Total assets increased by 294.7% over the same period, from $252K to $994K. Total functional expenses rose by 109667.2%, from $137 to $150K. In its most recent filing year (2023), Golden Age Apartments Inc reported a deficit of $37K, with expenses exceeding revenue. The organization holds $5K in liabilities against $994K in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $988K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $113K | $150K | $994K | $5K | — | View 990 |
| 2022 | $101K | $145K | $1.0M | $5K | — | View 990 |
| 2021 | $105K | $146K | $1.1M | $5K | — | View 990 |
| 2020 | $97K | $139K | $1.1M | $5K | — | View 990 |
| 2019 | $105K | $139K | $1.2M | $5K | — | View 990 |
| 2018 | $108K | $138K | $1.2M | $5K | — | View 990 |
| 2017 | $92K | $114K | $1.2M | $6K | — | View 990 |
| 2016 | $88K | $121K | $1.2M | $10K | — | View 990 |
| 2015 | $90K | $113K | $1.3M | $6K | — | View 990 |
| 2014 | $93K | $129K | $1.3M | $5K | — | View 990 |
| 2013 | $91K | $104K | $1.3M | $5K | — | View 990 |
| 2012 | $75K | $111K | $1.4M | $24K | — | — |
| 2010 | $70K | $92K | $1.4M | $24K | — | View 990 |
| 2009 | $1.2M | $30K | $1.5M | $16K | — | View 990 |
| 2008 | $252K | $137 | $252K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $113K, expenses of $150K, and assets of $994K (revenue +12.4% year-over-year).
- 2022: Revenue of $101K, expenses of $145K, and assets of $1.0M (revenue -3.8% year-over-year).
- 2021: Revenue of $105K, expenses of $146K, and assets of $1.1M (revenue +7.8% year-over-year).
- 2020: Revenue of $97K, expenses of $139K, and assets of $1.1M (revenue -7.5% year-over-year).
- 2019: Revenue of $105K, expenses of $139K, and assets of $1.2M (revenue -2.4% year-over-year).
- 2018: Revenue of $108K, expenses of $138K, and assets of $1.2M (revenue +17.6% year-over-year).
- 2017: Revenue of $92K, expenses of $114K, and assets of $1.2M (revenue +3.8% year-over-year).
- 2016: Revenue of $88K, expenses of $121K, and assets of $1.2M (revenue -1.9% year-over-year).
- 2015: Revenue of $90K, expenses of $113K, and assets of $1.3M (revenue -3.4% year-over-year).
- 2014: Revenue of $93K, expenses of $129K, and assets of $1.3M (revenue +1.8% year-over-year).
- 2013: Revenue of $91K, expenses of $104K, and assets of $1.3M (revenue +21.4% year-over-year).
- 2012: Revenue of $75K, expenses of $111K, and assets of $1.4M (revenue +8.0% year-over-year).
- 2010: Revenue of $70K, expenses of $92K, and assets of $1.4M (revenue -94.3% year-over-year).
- 2009: Revenue of $1.2M, expenses of $30K, and assets of $1.5M (revenue +383.0% year-over-year).
- 2008: Revenue of $252K, expenses of $137, and assets of $252K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Golden Age Apartments Inc:
Data Sources and Methodology
This transparency report for Golden Age 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.