Riverway Homes Ltd

Analysis

Riverway Homes Ltd is a registered charity in United States, based in Rice Lake, WI. It received its IRS tax-exemption ruling in September 1990, 36 years ago. 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, Riverway Homes Ltd reported income of $189k and spending of $219k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $139k to $189k (+36%), an average of +8.0% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Riverway Homes Ltd sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 52nd percentile within WI. Charities of a similar size with the same main cause include Avoca Ambulance Association Inc ($189k), Bound for Glory ($189k) and Fleur D Sigmon Charitable TR ($189k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $34k. At year end it held assets of $643k against liabilities of $16k, net assets of $627k.

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.