The Richstone Center Inc

Analysis

The Richstone Center Inc is a registered charity in United States, based in Hawthorne, CA. It received its IRS tax-exemption ruling in May 1974, 52 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, The Richstone Center Inc reported income of $4.5m and spending of $4.9m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.1m to $4.5m (+8.7%), an average of +2.1% a year. The sharpest change came in the year to June 2020, when income rose by 42%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Richstone Center Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Community Enterprises of St Clair County ($4.5m), Focus on Youth Inc ($4.5m) and NW Furniture Bank ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% of the total. Compensation of current officers, directors and key employees was $185k (3.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $6.8m against liabilities of $1.1m, net assets of $5.8m. It reported 64 employees.