Riley Area Development Corporation

Analysis

Riley Area Development Corporation is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in November 2008, 18 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Riley Area Development Corporation reported income of $357k and spending of $756k, spending 211% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income fell from $1.1m to $357k (-69%), an average of -25% a year. The sharpest change came in the year to December 2021, when income dropped by 58%. Over the whole period it spent 132% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Riley Area Development Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within IN. Charities of a similar size with the same main cause include Kennedy Heights Neighborhood Association Inc ($357k), Palm Beach Tech Foundation Inc ($358k) and Schuyler County Human Servicesdevelopment Corporation ($357k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 27% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $33k (4.3% of expenses). Other salaries and wages came to $74k. At year end it held assets of $8.1m against liabilities of $1.2m, net assets of $6.9m. It reported 3 employees.

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.