Boaz and Ruth Inc

Analysis

Boaz and Ruth Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 December 2023, Boaz and Ruth Inc reported income of $462k and spending of $584k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $807k to $462k (-43%), an average of -13% a year. The sharpest change came in the year to December 2020, when income dropped by 41%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Boaz and Ruth Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within VA. Charities of a similar size with the same main cause include Curleys House of Style Inc ($461k), Freedom Staffing Inc ($462k) and Colorado Changemakers Collective ($461k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $65k (11% of expenses). Other salaries and wages came to $141k. At year end it held assets of $1.7m against liabilities of $234k, net assets of $1.4m. It reported 9 employees.