Riverview Foundation

Analysis

Riverview Foundation is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in June 1994, 32 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Riverview Foundation reported income of $1.4m and spending of $1.5m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $795k to $1.4m (+81%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 43%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Riverview Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within ME. Charities of a similar size with the same main cause include Bodyvox Inc ($1.4m), Shakori Hills Community Arts Center Inc ($1.4m) and Dixon Gallery & Gardens ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.4% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $190k (13% of expenses). Other salaries and wages came to $416k. At year end it held assets of $262k against liabilities of $373k, net assets of -$111k. It reported 57 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.