Inez Apartments Inc
Inez Apartments Inc. consistently operates at a deficit, drawing down assets despite no executive compensation.
EIN: 201835268 · Morehead, KY · NTEE: L20 · Updated: 2026-03-28
Is Inez Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Inez Apartments Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Inez Apartments Inc
Inez Apartments Inc (EIN: 201835268) is a nonprofit organization based in Morehead, KY, classified under NTEE code L20. The organization reported total revenue of $143K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Inez Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Inez Apartments Inc with a Mission Score of 75 out of 100 (Good). 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, Inez 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.
Executive Compensation Analysis
Inez Apartments Inc. reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its executives. This is a highly positive sign for a nonprofit, demonstrating a strong commitment to directing all available funds towards its mission rather than executive salaries.
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 Inez Apartments Inc's IRS 990 filings:
- Consistent operating deficits, with expenses exceeding revenue in all reported periods.
- Gradual but consistent decline in total assets over the past decade.
Strengths
The following positive indicators were identified for Inez Apartments Inc:
- Zero officer compensation reported across all filings, indicating high efficiency in leadership costs.
- Low and stable liabilities, suggesting good financial management of debt.
- Clear mission focus on affordable housing (NTEE L20).
Frequently Asked Questions about Inez Apartments Inc
Is Inez Apartments Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Inez Apartments Inc (EIN: 201835268) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Inez Apartments Inc spend its money?
Inez Apartments Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Inez Apartments Inc tax-deductible?
Inez Apartments Inc is registered as a tax-exempt nonprofit (EIN: 201835268). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Inez Apartments Inc. financially sustainable given its consistent operating deficits?
The organization has consistently spent more than it earns, with expenses exceeding revenue in every reported period. While it has substantial assets ($1,461,082 in 2024), these assets have been declining over time, suggesting that current operations are not sustainable without a change in revenue or expense structure.
How does the lack of officer compensation impact the organization?
The absence of officer compensation is a significant strength, indicating that all leadership is likely volunteer-based or compensated through other means not reported as officer compensation. This maximizes the funds available for program services and demonstrates a high level of dedication to the mission.
What is the trend in the organization's assets and liabilities?
Assets have shown a consistent decline from $1,902,406 in 2015 to $1,461,082 in 2024, reflecting the ongoing operating deficits. Liabilities have remained relatively low and stable, ranging from approximately $7,000 to $18,000 over the same period, which is positive.
Filing History
IRS 990 filing history for Inez Apartments Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Inez Apartments Inc's revenue has grown by 59.2%, moving from $90K to $143K. Total assets decreased by 29.9% over the same period, from $2.1M to $1.5M. Total functional expenses rose by 48.6%, from $127K to $189K. In its most recent filing year (2024), Inez Apartments Inc reported a deficit of $46K, with expenses exceeding revenue. The organization holds $13K in liabilities against $1.5M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $143K | $189K | $1.5M | $13K | — | — |
| 2023 | $137K | $203K | $1.5M | $11K | — | View 990 |
| 2022 | $127K | $177K | $1.6M | $8K | — | View 990 |
| 2021 | $138K | $176K | $1.6M | $8K | — | View 990 |
| 2020 | $115K | $170K | $1.7M | $10K | — | View 990 |
| 2019 | $120K | $160K | $1.7M | $17K | — | View 990 |
| 2018 | $118K | $154K | $1.8M | $15K | — | — |
| 2017 | $110K | $158K | $1.8M | $18K | — | View 990 |
| 2016 | $117K | $177K | $1.8M | $17K | — | View 990 |
| 2015 | $109K | $155K | $1.9M | $14K | — | View 990 |
| 2014 | $96K | $146K | $1.9M | $14K | — | View 990 |
| 2013 | $98K | $149K | $2.0M | $10K | — | View 990 |
| 2012 | $104K | $141K | $2.0M | $14K | — | View 990 |
| 2011 | $90K | $127K | $2.1M | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $143K, expenses of $189K, and assets of $1.5M (revenue +4.4% year-over-year).
- 2023: Revenue of $137K, expenses of $203K, and assets of $1.5M (revenue +7.3% year-over-year).
- 2022: Revenue of $127K, expenses of $177K, and assets of $1.6M (revenue -7.6% year-over-year).
- 2021: Revenue of $138K, expenses of $176K, and assets of $1.6M (revenue +19.6% year-over-year).
- 2020: Revenue of $115K, expenses of $170K, and assets of $1.7M (revenue -4.2% year-over-year).
- 2019: Revenue of $120K, expenses of $160K, and assets of $1.7M (revenue +2.3% year-over-year).
- 2018: Revenue of $118K, expenses of $154K, and assets of $1.8M (revenue +6.8% year-over-year).
- 2017: Revenue of $110K, expenses of $158K, and assets of $1.8M (revenue -6.2% year-over-year).
- 2016: Revenue of $117K, expenses of $177K, and assets of $1.8M (revenue +7.8% year-over-year).
- 2015: Revenue of $109K, expenses of $155K, and assets of $1.9M (revenue +13.5% year-over-year).
- 2014: Revenue of $96K, expenses of $146K, and assets of $1.9M (revenue -2.5% year-over-year).
- 2013: Revenue of $98K, expenses of $149K, and assets of $2.0M (revenue -5.8% year-over-year).
- 2012: Revenue of $104K, expenses of $141K, and assets of $2.0M (revenue +16.4% year-over-year).
- 2011: Revenue of $90K, expenses of $127K, and assets of $2.1M.
Data Sources and Methodology
This transparency report for Inez 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.