Riverhead Business Improvement District Management Assoc Inc

Analysis

Riverhead Business Improvement District Management Assoc Inc is a registered charity in United States, based in Riverhead, NY. It received its IRS tax-exemption ruling in December 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Riverhead Business Improvement District Management Assoc Inc reported income of $216k and spending of $244k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $189k to $216k (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Riverhead Business Improvement District Management Assoc Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NY. Charities of a similar size with the same main cause include Gateway Development Corporation ($216k), Thomas P and Sondra D Sheehan Charitable Foundation ($216k) and Economic Action Group Inc ($216k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $50k (21% of expenses). Other salaries and wages came to $21k. At year end it held assets of $110k against liabilities of $0, net assets of $110k. It reported 3 employees.