Ridgecrest at Richfield

Analysis

Ridgecrest at Richfield is a registered charity in United States, based in Salem, VA. It received its IRS tax-exemption ruling in January 2008, 18 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 September 2023, Ridgecrest at Richfield reported income of $1.2m and spending of $1.1m, spending 87% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.1m to $1.2m (+15%), an average of +3.5% a year. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ridgecrest at Richfield sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within VA. Charities of a similar size with the same main cause include Empowered to Change Inc ($1.2m), Highbridge Senior Housing Development Fund Corporation ($1.2m) and Lutheran Ministries of Mercy Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $158k. At year end it held assets of $2.2m against liabilities of $2.3m, net assets of -$21k. It reported 5 employees.