River Grove Retirement Community Inc

Analysis

River Grove Retirement Community Inc is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in April 2000, 26 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, River Grove Retirement Community Inc reported income of $310k and spending of $394k, spending 127% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $333k to $310k (-7.0%), an average of -1.8% a year. The sharpest change came in the year to June 2021, when income rose by 27%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, River Grove Retirement Community Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within MI. Charities of a similar size with the same main cause include Faith Housing New Hope Apartments ($310k), Ridge Oak III Inc ($310k) and East Liberty Supportive Housing Inc ($310k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Other salaries and wages came to $72k. At year end it held assets of $1.8m against liabilities of $3.1m, net assets of -$1.3m. It reported 1 employees.