Rockbridge Area Housing Corporation

Analysis

Rockbridge Area Housing Corporation is a registered charity in United States, based in Lexington, VA. It received its IRS tax-exemption ruling in January 1972, 54 years ago. 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 April 2024, Rockbridge Area Housing Corporation reported income of $322k and spending of $340k, spending 106% of what it took in. Across the 5 years on record, from April 2020 to April 2024, income grew from $298k to $322k (+8.1%), an average of +2.0% a year. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rockbridge Area Housing Corporation sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within VA. Charities of a similar size with the same main cause include Jerusalem Township Volunteer Fire Department Inc ($322k), Society for the Prevention of Cruelty to Animals of Polk Co TX ($322k) and Help for Refugees ($322k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 0.6% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $40k (12% of expenses). Other salaries and wages came to $82k. At year end it held assets of $300k against liabilities of $564k, net assets of -$264k. It reported 6 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.