Charity Search / INDEPENDENCE SQUARE APARTMENTS II
Housing & Shelter (L22) 990 on File

INDEPENDENCE SQUARE APARTMENTS II

EIN: 38-3295366 · FORT GRATIOT, MI 48059-3866 · United States · FY 2025 Data
3 out of 5 40 / 100 Based on 2+ years of filings
Financial strength (30%) 72/100
Reliability (20%) 55/100
Effectiveness (25%) 31/100
Impact (25%) No data yet
Financial data: FY 2025 · Scored 9/13/2026
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Financial Overview — FY 2025
$67K
Total Revenue
$74K
Total Expenses
$156K
Net Assets
N/A
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio 61.1%
Fundraising Efficiency N/A
Operating Reserve 25.46x
Liability-to-Asset 6.6%
Revenue Diversification 77.0%
Compared with Peers
FY 2025
Compared with 1,152 similar organizations (United States, Housing & Shelter, under $100K in expenses), FY 2025.
This organization Middle half of peers (P25–P75) Peer median
Ratio This org Peer median Position (P10 → P90)
Program expense ratio
Program expenses / total expenses · higher is better
61.1% 83.6%
P10P90
Below median
Operating reserve
Months of expenses covered by net assets · higher is better
25.5 mo 32.0 mo
P10P90
Below median
Liabilities to assets
Total liabilities / total assets · lower is better
6.6% 2.1%
P10P90
Below median
Revenue concentration
Share of revenue from the largest source · lower is better
77.0% 99.6%
P10P90
Top quarter
Revenue growth
Year over year revenue growth
-3.7% 0.6%
P10P90
Expense growth
Year over year expense growth
0.1% 0.0%
P10P90
Surplus margin
Surplus as a share of revenue
-10.5% 10.5%
P10P90
Financial History
Year Revenue Expenses Net Assets Program % Staff
2025 $67K $74K $156K 61.1% —
2024 $69K $74K $163K 62.1% —
2023 $83K $92K $167K 54.9% —
2022 $80K $90K $177K 54.8% —
2021 $166K $110K N/A — 1
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Organization Details
EIN
38-3295366
State
MI
City
FORT GRATIOT
ZIP
48059-3866
Classification
L22
Category
Housing & Shelter
Rating
3★
Coverage
A
Last Updated
Aug 2026
Form 990
On File
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