Riverside Housing Development Corporation

Analysis

Riverside Housing Development Corporation is a registered charity in United States, based in Riverside, CA. It received its IRS tax-exemption ruling in March 1996, 30 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 2023, Riverside Housing Development Corporation reported income of $4.1m and spending of $5.0m, spending 123% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.1m to $4.1m (-1.4%), an average of -0.4% a year. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Riverside Housing Development Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Community Housing Developers Inc ($4.1m), Nelson Hall Homes ($4.1m) and Beech Interplex Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.3% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $250k (5.0% of expenses). Other salaries and wages came to $783k. At year end it held assets of $35.7m against liabilities of $28.5m, net assets of $7.2m. It reported 44 employees.