Residential Resources Inc

Analysis

Residential Resources Inc is a registered charity in United States, based in Ocean, NJ. It received its IRS tax-exemption ruling in September 1991, 35 years ago. 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 June 2023, Residential Resources Inc reported income of $97k and spending of $144k, spending 148% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $84k to $97k (+16%), an average of +3.8% a year. The sharpest change came in the year to June 2022, when income rose by 50%. Over the whole period it spent 130% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Residential Resources Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 44th percentile within NJ. Charities of a similar size with the same main cause include Aero Club of New England ($97k), Schuylkill Haven Free Public Library TR Ua ($97k) and Mann International Ministries ($97k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 48% of the total. Other salaries and wages came to $4,820. At year end it held assets of $573k against liabilities of $174k, net assets of $399k.