First Richland-Morrow Housing Inc III

Analysis

First Richland-Morrow Housing Inc III is a registered charity in United States, based in Gahanna, OH. It received its IRS tax-exemption ruling in July 1989, 37 years ago. 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, First Richland-Morrow Housing Inc III reported income of $308k and spending of $309k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $289k to $308k (+6.4%), an average of +1.6% a year. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, First Richland-Morrow Housing Inc III sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within OH. Charities of a similar size with the same main cause include Del Norte Senior Housing Incorporated ($308k), Laurelhurst Parent-Teacher Assoc ($308k) and Brevard Chamber Orchestra Association Inc ($308k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. Other salaries and wages came to $32k. At year end it held assets of $319k against liabilities of $478k, net assets of -$159k.

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.