PHS Founders Ridge Inc

Analysis

PHS Founders Ridge Inc is a registered charity in United States, based in Roseville, MN. It received its IRS tax-exemption ruling in May 2007, 19 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 September 2023, PHS Founders Ridge Inc reported income of $10.9m and spending of $10.0m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $6.0m to $10.9m (+82%), an average of +16% a year. The sharpest change came in the year to September 2021, when income rose by 38%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, PHS Founders Ridge Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Life Enriching Communities ($10.8m), Elim Senior Housing Inc ($10.9m) and Community Housing Network Inc ($10.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 97% of the total. Other salaries and wages came to $3.2m. At year end it held assets of $48.2m against liabilities of $47.8m, net assets of $448k.