First Richland Morrow Housing Inc VII

Analysis

First Richland Morrow Housing Inc VII is a registered charity in United States, based in Gahanna, OH. It received its IRS tax-exemption ruling in January 2001, 25 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 December 2023, First Richland Morrow Housing Inc VII reported income of $236k and spending of $294k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $229k to $236k (+2.9%), an average of +0.7% a year. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, First Richland Morrow Housing Inc VII sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within OH. Charities of a similar size with the same main cause include Manny L Wilson Housing Development Fund Corporation ($236k), Miracit Development Corporation Inc ($236k) and NMF VII ($236k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 54% of the total. Other salaries and wages came to $43k. At year end it held assets of $937k against liabilities of $2.1m, net assets of -$1.2m.

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.