Richardson Center Corporation

Analysis

Richardson Center Corporation is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in July 2007, 19 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, Richardson Center Corporation reported income of $312k and spending of $508k, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $312k (-73%), an average of -28% a year. The sharpest change came in the year to December 2021, when income rose by 67%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Richardson Center Corporation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within NY. Charities of a similar size with the same main cause include Design Forward Alliance ($312k), Share - Pregnancy and Infant Loss Support Inc ($312k) and Friends of the Port St Lucie Botanical Gardens ($311k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% of the total. Compensation of current officers, directors and key employees was $76k (15% of expenses). Other salaries and wages came to $28k. At year end it held assets of $58.5m against liabilities of $1.2m, net assets of $57.3m. It reported 3 employees.