Rivercrest Commons Housing Development Fund Company Inc

Analysis

Rivercrest Commons Housing Development Fund Company Inc is a registered charity in United States, based in Amsterdam, NY. It received its IRS tax-exemption ruling in January 2005, 21 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 Commons Housing Development Fund Company Inc reported income of $62k and spending of $103k, spending 166% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $65k to $62k (-4.9%), an average of -1.2% a year. Over the whole period it spent 155% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rivercrest Commons Housing Development Fund Company Inc sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within NY. Charities of a similar size with the same main cause include Roseland Place NFP ($62k), Westfield Housing Corporation ($62k) and HH Ownership Inc ($62k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 44% of the total. Other salaries and wages came to $6,782. At year end it held assets of $415k against liabilities of $64k, net assets of $351k.

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.