Rangeley Housing Development Corporation

Analysis

Rangeley Housing Development Corporation is a registered charity in United States, based in Rangeley, ME. It received its IRS tax-exemption ruling in May 1980, 46 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Rangeley Housing Development Corporation reported income of $415k and spending of $407k, spending 98% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $335k to $415k (+24%), an average of +7.4% a year. Over the whole period it spent 108% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rangeley Housing Development Corporation sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 62nd percentile within ME. Charities of a similar size with the same main cause include Ucc VI Inc ($415k), Fairmount Plaza Inc a Missouri Non- Profit Corporation ($415k) and Cedarcrest Housing Corporation ($415k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 66% and program service revenue 32% of the total. At year end it held assets of $611k against liabilities of $1.2m, net assets of -$594k.