Riese St Gerard Housing Corp

Analysis

Riese St Gerard Housing Corp is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Riese St Gerard Housing Corp reported income of $392k and spending of $427k, spending 109% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $346k to $392k (+13%), an average of +3.2% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Riese St Gerard Housing Corp 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 72nd percentile within NJ. Charities of a similar size with the same main cause include Arkansas Community Institute ($392k), Housing Initiatives of Princeton Charitable TR ($392k) and Sebring Housing Research and Development Inc ($392k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $84k. At year end it held assets of $1.1m against liabilities of $32k, net assets of $1.0m. It reported 2 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.