Riordan School Housing Development Fund Company Inc

Analysis

Riordan School Housing Development Fund Company Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 March 2023, Riordan School Housing Development Fund Company Inc reported income of $243k and spending of $275k, spending 113% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $361k to $243k (-33%), an average of -12% a year. The sharpest change came in the year to March 2021, when income dropped by 37%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Riordan School Housing Development Fund Company 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 58th percentile, and in the 55th percentile within NY. Charities of a similar size with the same main cause include Marin Museum of Bicycling ($243k), Foreign Service Fellowship International Inc ($243k) and Earthen Vessels Womens Recovery Inc ($243k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 90% of the total. Compensation of current officers, directors and key employees was $63k (23% of expenses). At year end it held assets of $1.5m against liabilities of $36k, net assets of $1.4m.

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.