RMS Development Inc

Analysis

RMS Development Inc is a registered charity in United States, based in Kensington, CT. It received its IRS tax-exemption ruling in November 1992, 34 years ago. 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, RMS Development Inc reported income of $36.0m and spending of $35.3m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.2m to $36.0m (+55%), an average of +12% a year. The sharpest change came in the year to June 2020, when income rose by 21%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, RMS Development Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CT. Charities of a similar size with the same main cause include Iowa Donor Network ($36.0m), Hughen Center Inc ($36.0m) and University of Maryland Diagnostic Imaging Specialists P a ($35.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 7.3% of the total. Other salaries and wages came to $19.0m. At year end it held assets of $12.8m against liabilities of $8.4m, net assets of $4.4m.