Hadc Ridgeway

Analysis

Hadc Ridgeway is a registered charity in United States, based in Deephaven, MN. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Hadc Ridgeway reported income of $4.7m and spending of $5.1m, spending 110% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income grew from $4.1m to $4.7m (+13%), an average of +3.2% a year. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hadc Ridgeway sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MN. Charities of a similar size with the same main cause include Bridgeport Neighborhood Trust Inc ($4.7m), Providence Senior Living Inc ($4.7m) and The Extension Inc ($4.7m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Other salaries and wages came to $2.4m. At year end it held assets of $7.0m against liabilities of $8.9m, net assets of -$1.9m.

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.