Potomac River Homes Inc

Analysis

Potomac River Homes Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in February 1995, 31 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 (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 2023, Potomac River Homes Inc reported income of $127k and spending of $219k, spending 173% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $142k to $127k (-11%), an average of -3.8% a year. Over the whole period it spent 155% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Potomac River Homes Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 44th percentile within MD. Charities of a similar size with the same main cause include James Valley Apartments Inc ($127k), Golden Terrace Village IV Inc ($127k) and Community for Christ Outreach Center Inc ($127k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. At year end it held assets of $1.0m against liabilities of $2.1m, net assets of -$1.1m.

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.