Richcroft Inc

Analysis

Richcroft Inc is a registered charity in United States, based in Hunt Valley, MD. It received its IRS tax-exemption ruling in September 1983, 43 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Richcroft Inc reported income of $36.5m and spending of $32.6m, spending 89% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $20.1m to $36.5m (+82%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Richcroft Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MD. Charities of a similar size with the same main cause include Oats Inc ($36.4m), Congregational Homes ($36.5m) and Oswego County Opportunities Inc ($36.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $529k (1.6% of expenses). Other salaries and wages came to $23.3m. At year end it held assets of $25.0m against liabilities of $10.2m, net assets of $14.8m. It reported 622 employees.