Rivercrest Developement Corporation

Analysis

Rivercrest Developement Corporation is a registered charity in United States, based in Amsterdam, NY. It received its IRS tax-exemption ruling in March 2000, 26 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Rivercrest Developement Corporation reported income of $420k and spending of $293k, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $339k to $420k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2020, when income rose by 44%. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rivercrest Developement Corporation sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 64th percentile within NY. Charities of a similar size with the same main cause include North Suffolk Group Homes Inc ($420k), Chattanooga Community Housing Development Organization Inc ($420k) and C a R Housing Affordability Fund ($420k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Other salaries and wages came to $35k. At year end it held assets of $2.6m against liabilities of $482k, net assets of $2.1m.