River City Capital Investment Corp

Analysis

River City Capital Investment Corp is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in April 2013, 13 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 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 2023, River City Capital Investment Corp reported income of $1.7m and spending of $578k, leaving 66% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $101k to $1.7m (+1579%), an average of +102% a year. The sharpest change came in the year to June 2020, when income rose by 1171%. Over the whole period it spent 44% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, River City Capital Investment Corp sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within TN. Charities of a similar size with the same main cause include Mission Community Services Corporation ($1.7m), Native Cdfi Network Inc ($1.7m) and Support Center for Nonprofit Management Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $346k. At year end it held assets of $5.6m against liabilities of $2.4m, net assets of $3.2m.