Ridc Regional Growth Fund

Analysis

Ridc Regional Growth Fund is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in August 1985, 41 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ridc Regional Growth Fund reported income of $17.5m and spending of $14.6m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.3m to $17.5m (+139%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 34%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ridc Regional Growth Fund sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within PA. Charities of a similar size with the same main cause include Wtia Workforce Institute ($17.5m), Huron Area Center for Independence ($17.6m) and Foundation for Detroits Future ($17.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.5% and program service revenue 94% of the total. At year end it held assets of $41.1m against liabilities of $31.2m, net assets of $9.9m.