The Richmond Center

Analysis

The Richmond Center is a registered charity in United States, based in Ames, IA. It received its IRS tax-exemption ruling in June 1965, 61 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 June 2024, The Richmond Center reported income of $904k and spending of $1.5m, spending 162% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $667k to $904k (+35%), an average of +6.2% a year. The sharpest change came in the year to June 2020, when income rose by 41%. Over the whole period it spent 127% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Richmond Center sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 81st percentile within IA. Charities of a similar size with the same main cause include The Salvation Army Hollywood Residences Inc ($903k), The Pacific Southwest Minority Supplier Development Council ($904k) and Latino Proffesionals in Aerospace Inc ($903k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.8% and program service revenue 95% of the total. Other salaries and wages came to $772k. At year end it held assets of $693k against liabilities of $4.2m, net assets of -$3.5m.

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.