Riverside Industries Inc

Analysis

Riverside Industries Inc is a registered charity in United States, based in Easthampton, MA. It received its IRS tax-exemption ruling in September 1968, 58 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Riverside Industries Inc reported income of $8.7m and spending of $7.8m, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $8.5m to $8.7m (+3.0%), an average of +1.0% a year. The sharpest change came in the year to June 2021, when income dropped by 26%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Riverside Industries Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include St Josephs Foundation ($8.7m), Youth Outreach Services Inc ($8.7m) and Reformed Presbyterian Womans Assn ($8.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $179k (2.3% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $8.5m against liabilities of $1.9m, net assets of $6.6m. It reported 198 employees.