Southern Living Apartments Inc
Southern Living Apartments Inc. consistently operates at a deficit, drawing down assets to cover expenses.
EIN: 202077493 · Knoxville, TN · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $144K |
| Total Expenses | $180K |
| Program Spending | 85% |
| Net Assets | $729K |
| Transparency Score | 60/100 |
Is Southern Living Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southern Living Apartments Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Southern Living Apartments Inc
Southern Living Apartments Inc (EIN: 202077493) is a nonprofit organization based in Knoxville, TN, classified under NTEE code L21. The organization reported total revenue of $144K and total assets of $719K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southern Living Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southern Living Apartments Inc is a small nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $138K |
| Total Expenses | $180K |
| Surplus / Deficit | $-42,129 |
| Total Assets | $776K |
| Total Liabilities | $46K |
| Net Assets | $729K |
| Operating Margin | -30.5% |
| Debt-to-Asset Ratio | 6.0% |
| Months of Reserves | 51.7 months |
Financial Health Grade: B
In 2024, Southern Living Apartments Inc reported a deficit of $42K with expenses exceeding revenue, holds 51.7 months of operating reserves (strong position), has a debt-to-asset ratio of 6.0% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Southern Living Apartments Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +9.0% | +0.6% | -4.7% |
| 2023 | +7.3% | +7.5% | -5.6% |
| 2022 | +0.8% | +0.0% | -4.5% |
| 2021 | -1.6% | -3.4% | -5.0% |
| 2020 | +1.5% | +9.7% | -4.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Southern Living Apartments Inc with a Mission Score of 60 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: 85%
- fundraising: 5%
According to IRS 990 filings, Southern Living Apartments Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $42K, with expenses exceeding revenue.
- Debt-to-asset ratio: 6.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either unpaid volunteers or compensated through non-officer categories, which is a positive sign for resource allocation.
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 Southern Living Apartments Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceed revenue in all reported periods)
- Declining asset base over the past decade (from $1.15M in 2015 to $775K in 2024)
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data makes full efficiency assessment difficult
Strengths
The following positive indicators were identified for Southern Living Apartments Inc:
- Consistent 0% officer compensation, indicating efficient use of funds at the executive level
- Consistent IRS 990 filing history, demonstrating transparency
- Relatively stable and low liabilities over time
Frequently Asked Questions about Southern Living Apartments Inc
Is Southern Living Apartments Inc a legitimate charity?
Southern Living Apartments Inc (EIN: 202077493) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 60/100. It has 14 years of IRS 990 filings on record. Total revenue: $144K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Southern Living Apartments Inc spend its money?
Southern Living Apartments Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Southern Living Apartments Inc tax-deductible?
Southern Living Apartments Inc is registered as a tax-exempt nonprofit (EIN: 202077493). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Southern Living Apartments Inc's spending goes to programs?
Southern Living Apartments Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Southern Living Apartments Inc compare to similar nonprofits?
With a transparency score of 60/100 (Good), Southern Living Apartments Inc is above average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Southern Living Apartments Inc located?
Southern Living Apartments Inc is headquartered in Knoxville, Tennessee and files with the IRS under EIN 202077493. It is classified under NTEE code L21.
How many years of IRS 990 filings does Southern Living Apartments Inc have?
Southern Living 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 $144K in total revenue.
Is Southern Living Apartments Inc. financially sustainable?
Based on the consistent operational deficits (e.g., $180,141 expenses vs. $138,012 revenue in 2024) and declining asset base, the organization's current financial model is not sustainable in the long term without significant changes to revenue generation or expense management.
How does the organization fund its operations given the deficits?
The organization appears to be funding its operational deficits by drawing down its assets. Total assets have decreased from $1,154,096 in 2015 to $775,585 in 2024, indicating a reliance on existing reserves rather than new revenue to cover expenses.
What is the NTEE code L21, and how does it relate to the organization?
NTEE code L21 typically refers to 'Housing Development, Construction & Management' organizations. This suggests Southern Living Apartments Inc. is involved in providing or managing housing, which aligns with its name and implies its expenses are related to property operations and maintenance.
Filing History
IRS 990 filing history for Southern Living Apartments Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Southern Living Apartments Inc's revenue has grown by 77.4%, moving from $78K to $138K. Total assets decreased by 41.1% over the same period, from $1.3M to $776K. Total functional expenses rose by 37.9%, from $131K to $180K. In its most recent filing year (2024), Southern Living Apartments Inc reported a deficit of $42K, with expenses exceeding revenue. The organization holds $46K in liabilities against $776K in assets (debt-to-asset ratio: 6.0%), resulting in net assets of $729K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $138K | $180K | $776K | $46K | — | — |
| 2023 | $127K | $179K | $814K | $43K | — | View 990 |
| 2022 | $118K | $167K | $863K | $39K | — | View 990 |
| 2021 | $117K | $167K | $903K | $31K | — | View 990 |
| 2020 | $119K | $172K | $951K | $29K | — | View 990 |
| 2019 | $117K | $157K | $1000K | $25K | — | View 990 |
| 2018 | $111K | $159K | $1.0M | $18K | — | View 990 |
| 2017 | $111K | $149K | $1.1M | $26K | — | View 990 |
| 2016 | $112K | $147K | $1.1M | $22K | — | View 990 |
| 2015 | $117K | $144K | $1.2M | $18K | — | View 990 |
| 2014 | $100K | $138K | $1.2M | $42K | — | View 990 |
| 2013 | $88K | $142K | $1.2M | $23K | — | View 990 |
| 2012 | $91K | $135K | $1.3M | $23K | — | View 990 |
| 2011 | $78K | $131K | $1.3M | $19K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $138K, expenses of $180K, and assets of $776K (revenue +9.0% year-over-year).
- 2023: Revenue of $127K, expenses of $179K, and assets of $814K (revenue +7.3% year-over-year).
- 2022: Revenue of $118K, expenses of $167K, and assets of $863K (revenue +0.8% year-over-year).
- 2021: Revenue of $117K, expenses of $167K, and assets of $903K (revenue -1.6% year-over-year).
- 2020: Revenue of $119K, expenses of $172K, and assets of $951K (revenue +1.5% year-over-year).
- 2019: Revenue of $117K, expenses of $157K, and assets of $1000K (revenue +5.6% year-over-year).
- 2018: Revenue of $111K, expenses of $159K, and assets of $1.0M (revenue +0.2% year-over-year).
- 2017: Revenue of $111K, expenses of $149K, and assets of $1.1M (revenue -1.1% year-over-year).
- 2016: Revenue of $112K, expenses of $147K, and assets of $1.1M (revenue -3.9% year-over-year).
- 2015: Revenue of $117K, expenses of $144K, and assets of $1.2M (revenue +16.8% year-over-year).
- 2014: Revenue of $100K, expenses of $138K, and assets of $1.2M (revenue +13.1% year-over-year).
- 2013: Revenue of $88K, expenses of $142K, and assets of $1.2M (revenue -3.3% year-over-year).
- 2012: Revenue of $91K, expenses of $135K, and assets of $1.3M (revenue +17.3% year-over-year).
- 2011: Revenue of $78K, expenses of $131K, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southern Living Apartments Inc:
Data Sources and Methodology
This transparency report for Southern Living 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.