Richmond Street Community Development Corporation

Analysis

Richmond Street Community Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Richmond Street Community Development Corporation reported income of $748k and spending of $1.2m, spending 165% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $998k to $748k (-25%), an average of -6.9% a year. The sharpest change came in the year to June 2021, when income dropped by 20%. Over the whole period it spent 129% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Richmond Street Community Development Corporation sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within PA. Charities of a similar size with the same main cause include Association of California Cities ($748k), White County Public Library Friends Foundation Inc ($748k) and James Sandoval Preparatory High School ($748k).

At year end it held assets of $15.3m against liabilities of $12.0m, net assets of $3.3m.

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.