Rivertown Housing Development Fund Company Inc

Analysis

Rivertown Housing Development Fund Company Inc is a registered charity in United States, based in Athens, NY. It received its IRS tax-exemption ruling in January 1987, 39 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, Rivertown Housing Development Fund Company Inc reported income of $392k and spending of $453k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $406k to $392k (-3.3%), an average of -0.8% a year. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rivertown 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 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Wyandot Senior Village Inc ($392k), Mt Zion a M E Apartments Inc II ($392k) and Housing Initiatives of Princeton Charitable TR ($392k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $59k (13% of expenses). Other salaries and wages came to $31k. At year end it held assets of $1.8m against liabilities of $3.0m, net assets of -$1.2m. It reported 3 employees.

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.