New Richmond Senior Housing Inc

Analysis

New Richmond Senior Housing Inc is a registered charity in United States, based in Shoreview, MN. It received its IRS tax-exemption ruling in April 1988, 38 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Richmond Senior Housing Inc reported income of $268k and spending of $358k, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $246k to $268k (+9.1%), an average of +2.2% a year. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Richmond Senior Housing Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within MN. Charities of a similar size with the same main cause include Lupine Housing Inc a California Nonprofit Public Benefit Corp ($268k), Bullock McLeod Housing Inc ($268k) and Courtyard Square Inc ($268k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $84k. At year end it held assets of $1.6m against liabilities of $2.7m, net assets of -$1.1m.

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.