Neighborhood in Rio Rancho

Analysis

Neighborhood in Rio Rancho is a registered charity in United States, based in Rio Rancho, NM. It received its IRS tax-exemption ruling in January 2015, 11 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, Neighborhood in Rio Rancho reported income of $14.9m and spending of $17.3m, spending 116% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income grew from $11.7m to $14.9m (+28%), an average of +6.3% a year. The sharpest change came in the year to March 2020, when income rose by 16%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Neighborhood in Rio Rancho sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 98th percentile within NM. Charities of a similar size with the same main cause include Affordable Housing Access Inc ($14.9m), Justine Petersen Housing and Reinvestment Corporation ($15.0m) and Delta Community Developers Corp ($14.9m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 0.0% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $253k (1.5% of expenses). Other salaries and wages came to $7.0m. At year end it held assets of $41.4m against liabilities of $65.9m, net assets of -$24.4m. It reported 272 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.