Ridge Oak III Inc

Analysis

Ridge Oak III Inc is a registered charity in United States, based in Basking Ridge, NJ. It received its IRS tax-exemption ruling in October 2010, 16 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 (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 2024, Ridge Oak III Inc reported income of $310k and spending of $376k, spending 121% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $241k to $310k (+29%), an average of +5.2% a year. Over the whole period it spent 135% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ridge Oak III Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 68th percentile within NJ. Charities of a similar size with the same main cause include River Grove Retirement Community Inc ($310k), Riverview Avenue Apartments Housing Development Fund Company Inc ($310k) and Faith Housing New Hope Apartments ($310k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Other salaries and wages came to $62k. At year end it held assets of $3.5m against liabilities of $93k, net assets of $3.5m.

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.