Residential Options Inc

Analysis

Residential Options Inc is a registered charity in United States, based in Danvers, MA. It received its IRS tax-exemption ruling in March 1986, 40 years ago. 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 June 2023, Residential Options Inc reported income of $71k and spending of $94k, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $107k to $71k (-33%), an average of -9.7% a year. The sharpest change came in the year to June 2020, when income dropped by 40%. Over the whole period it spent 138% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Residential Options Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 36th percentile within MA. Charities of a similar size with the same main cause include Mt Calvary Foundation Inc ($71k), Wakefield Museum Association Inc ($71k) and PTA Kansas Congress of Parents and Teachers ($71k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 94% of the total. At year end it held assets of $432k against liabilities of $612k, net assets of -$179k.

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.