Redeemer Residence Inc

Analysis

Redeemer Residence Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in April 1949, 77 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, Redeemer Residence Inc reported income of $15.9m and spending of $15.3m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.3m to $15.9m (+91%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 47%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Redeemer Residence Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include New England Historic Genealogical Society Inc ($15.9m), St Charles Youth and Family Services Inc ($15.9m) and Boy Scouts of America ($15.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 98% of the total. Other salaries and wages came to $8.1m. At year end it held assets of $9.3m against liabilities of $3.8m, net assets of $5.5m. It reported 347 employees.