Riverview Apartments Inc

Analysis

Riverview Apartments Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in June 1969, 57 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 June 2023, Riverview Apartments Inc reported income of $825k and spending of $895k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income fell from $2.0m to $825k (-60%), an average of -20% a year. The sharpest change came in the year to June 2021, when income dropped by 45%. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Riverview Apartments Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within PA. Charities of a similar size with the same main cause include Pinewood Manor Inc ($824k), NHDC Cerny Village Apartments Inc ($825k) and Maplehill Mobile Home Park Residents Assoc ($824k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Other salaries and wages came to $228k. At year end it held assets of $1.9m against liabilities of $550k, net assets of $1.4m. It reported 26 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.