Rivertown Neighborhood Senior Non Profit Housing Corporation

Analysis

Rivertown Neighborhood Senior Non Profit Housing Corporation is a registered charity in United States, based in Southfield, MI. It received its IRS tax-exemption ruling in March 2013, 13 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 June 2023, Rivertown Neighborhood Senior Non Profit Housing Corporation reported income of $460k and spending of $710k, spending 154% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $432k to $460k (+6.4%), an average of +1.6% a year. Over the whole period it spent 153% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rivertown Neighborhood Senior Non Profit Housing Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within MI. Charities of a similar size with the same main cause include Southview Courts Inc ($460k), Habitat for Humanity International Inc ($460k) and Columba Kavanagh House Inc ($460k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $64k (9.0% of expenses). Other salaries and wages came to $58k. At year end it held assets of $5.7m against liabilities of $7.2m, net assets of -$1.5m. It reported 3 employees.

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.