Regional Community Finance Inc

Analysis

Regional Community Finance Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in August 2012, 14 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2022, Regional Community Finance Inc reported income of $1.5m and spending of $1.8m, spending 125% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $6.4m to $1.5m (-77%), an average of -39% a year. The sharpest change came in the year to December 2020, when income dropped by 69%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Regional Community Finance Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within LA. Charities of a similar size with the same main cause include Blockchain Charity Foundation USA ($1.5m), California American Fire Sprinkler Association Training Trust Fund ($1.5m) and Southwest Organizations Unifying Resources for Our Community & Empl ($1.5m).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. At year end it held assets of $47.8m against liabilities of $43.7m, net assets of $4.1m.

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.