Terrific Inc

Analysis

Terrific Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1986, 40 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 September 2023, Terrific Inc reported income of $3.7m and spending of $3.9m, spending 105% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $5.9m to $3.7m (-37%), an average of -11% a year. The sharpest change came in the year to September 2020, when income dropped by 29%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Terrific Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 76th percentile within DC. Charities of a similar size with the same main cause include Calvin Court Atlanta Inc ($3.7m), Connect Inc ($3.7m) and Albany Housing Coalition Inc ($3.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 1.5% of the total. Other salaries and wages came to $2.1m. At year end it held assets of $2.3m against liabilities of $842k, net assets of $1.4m. It reported 54 employees.