Ridge Residences Inc

Analysis

Ridge Residences Inc is a registered charity in United States, based in Westminster, MD. It received its IRS tax-exemption ruling in June 1987, 39 years ago. 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 September 2023, Ridge Residences Inc reported income of $1.1m and spending of $963k, spending 89% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.0m to $1.1m (+5.9%), an average of +1.5% a year. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ridge Residences Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MD. Charities of a similar size with the same main cause include Partnerships for Change ($1.1m), Volunteers of America Inc ($1.1m) and Clayworks Inc ($1.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. Other salaries and wages came to $163k. At year end it held assets of $2.5m against liabilities of $2.8m, net assets of -$340k. It reported 9 employees.