Richard K Thompson Housing Inc

Analysis

Richard K Thompson Housing Inc is a registered charity in United States, based in Washington, NC. It received its IRS tax-exemption ruling in September 2005, 21 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 December 2023, Richard K Thompson Housing Inc reported income of $344k and spending of $442k, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $252k to $344k (+37%), an average of +8.2% a year. Over the whole period it spent 134% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Richard K Thompson Housing Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within NC. Charities of a similar size with the same main cause include Union County Housing Associates Inc ($344k), Drachma Housing Inc ($344k) and John Marvin Tower ($344k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 35% of the total. At year end it held assets of $1.7m against liabilities of $3.2m, net assets of -$1.5m.

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.