La Colonia Apartments Inc

La Colonia Apartments Inc. maintains operational stability with consistent revenue exceeding expenses, but faces long-term asset decline and high liabilities.

EIN: 208725313 · Topeka, KS · NTEE: L22 · Updated: 2026-03-28

$609KRevenue

$629KAssets

75/100Mission Score (Good)

L22

About La Colonia Apartments Inc

La Colonia Apartments Inc (EIN: 208725313) is a nonprofit organization based in Topeka, KS, classified under NTEE code L22. The organization reported total revenue of $609K and total assets of $629K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of La Colonia Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

La Colonia Apartments Inc. demonstrates consistent financial operations, with revenues generally exceeding expenses in recent years, indicating a stable operational model. For example, in 2023, revenue was $584,521 against expenses of $527,320, resulting in a surplus. The organization's assets have shown a declining trend over the past decade, from $1,076,670 in 2014 to $623,832 in 2023, while liabilities have remained significantly higher than assets, consistently exceeding $1.3 million. This suggests a reliance on debt financing or long-term obligations that warrant closer examination.

The organization's NTEE code L22 (Housing Development, Construction & Management) aligns with its name, suggesting a focus on providing housing. The absence of reported officer compensation across all available filings indicates a volunteer-led or externally managed executive structure, which can be a positive sign for donor confidence regarding administrative costs. However, without a detailed breakdown of expenses, it's challenging to fully assess spending efficiency beyond the overall revenue-to-expense ratio.

Transparency is generally good given the consistent filing of IRS Form 990s. The lack of officer compensation is a notable positive for transparency regarding executive pay. However, a more granular breakdown of program, administrative, and fundraising expenses would enhance the ability to evaluate how effectively funds are being utilized to achieve its mission, especially given the significant liabilities.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates La Colonia 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, La Colonia 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

Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through an external management entity, which is a positive for minimizing direct administrative overhead.

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 La Colonia Apartments Inc's IRS 990 filings:

Consistent decline in assets over the past decade (from $1,076,670 in 2014 to $623,832 in 2023).
Liabilities significantly and consistently exceed assets (e.g., $1,395,863 liabilities vs. $623,832 assets in 2023), indicating a high debt-to-asset ratio.

Strengths

The following positive indicators were identified for La Colonia Apartments Inc:

Consistent operational surplus in recent years (e.g., $584,521 revenue vs. $527,320 expenses in 2023).
No reported officer compensation across all filings, suggesting low administrative overhead related to executive pay.
Consistent filing of IRS Form 990s, indicating good transparency practices.
Mission-aligned NTEE code (L22 - Housing Development, Construction & Management) with the organization's name.

Frequently Asked Questions about La Colonia Apartments Inc

How does La Colonia Apartments Inc. manage its significant liabilities, which consistently exceed its assets?

The filings show liabilities consistently over $1.3 million, while assets have declined to $623,832 in 2023. Understanding the nature of these liabilities (e.g., mortgages, bonds) and the repayment strategy is crucial for assessing long-term financial stability.

What is the specific breakdown of program expenses for La Colonia Apartments Inc.?

While the NTEE code suggests housing development and management, a detailed breakdown of program expenses would clarify how funds are directly applied to housing services, maintenance, or development projects.

Why have the organization's assets been consistently declining over the past decade?

Assets decreased from $1,076,670 in 2014 to $623,832 in 2023. This trend warrants investigation to understand if it's due to depreciation, asset sales, or other factors impacting the organization's capital base.

Given the 0% officer compensation, how is the organization's executive leadership structured and compensated?

The consistent reporting of zero officer compensation suggests either a fully volunteer board and executive team or that executive services are provided by a related entity or contractor, which would be important for a complete understanding of operational costs.

Filing History

IRS 990 filing history for La Colonia Apartments Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), La Colonia Apartments Inc's revenue has grown by 23.2%, moving from $474K to $585K. Total assets decreased by 49.9% over the same period, from $1.2M to $624K. Total functional expenses rose by 3.8%, from $508K to $527K. In its most recent filing year (2023), La Colonia Apartments Inc reported a surplus of $57K, with revenue exceeding expenses. The organization holds $1.4M in liabilities against $624K in assets (debt-to-asset ratio: 223.8%), resulting in net assets of $-772,031.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$585K	$527K	$624K	$1.4M	—	—
2022	$566K	$546K	$616K	$1.4M	—	—
2021	$572K	$606K	$717K	$1.6M	—	View 990
2020	$544K	$538K	$813K	$1.6M	—	—
2019	$536K	$551K	$831K	$1.7M	—	View 990
2018	$529K	$513K	$882K	$1.7M	—	View 990
2017	$513K	$532K	$906K	$1.7M	—	View 990
2016	$505K	$530K	$967K	$1.8M	—	View 990
2015	$502K	$509K	$1.0M	$1.8M	—	View 990
2014	$494K	$540K	$1.1M	$1.8M	—	View 990
2013	$480K	$510K	$1.1M	$1.9M	—	View 990
2012	$480K	$500K	$1.2M	$1.9M	—	View 990
2011	$474K	$508K	$1.2M	$1.9M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $585K, expenses of $527K, and assets of $624K (revenue +3.2% year-over-year).
2022: Revenue of $566K, expenses of $546K, and assets of $616K (revenue -1.0% year-over-year).
2021: Revenue of $572K, expenses of $606K, and assets of $717K (revenue +5.2% year-over-year).
2020: Revenue of $544K, expenses of $538K, and assets of $813K (revenue +1.4% year-over-year).
2019: Revenue of $536K, expenses of $551K, and assets of $831K (revenue +1.4% year-over-year).
2018: Revenue of $529K, expenses of $513K, and assets of $882K (revenue +3.0% year-over-year).
2017: Revenue of $513K, expenses of $532K, and assets of $906K (revenue +1.7% year-over-year).
2016: Revenue of $505K, expenses of $530K, and assets of $967K (revenue +0.6% year-over-year).
2015: Revenue of $502K, expenses of $509K, and assets of $1.0M (revenue +1.4% year-over-year).
2014: Revenue of $494K, expenses of $540K, and assets of $1.1M (revenue +3.1% year-over-year).
2013: Revenue of $480K, expenses of $510K, and assets of $1.1M (revenue -0.2% year-over-year).
2012: Revenue of $480K, expenses of $500K, and assets of $1.2M (revenue +1.3% year-over-year).
2011: Revenue of $474K, expenses of $508K, and assets of $1.2M.

Data Sources and Methodology

This transparency report for La Colonia 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.