Resources for Independence Inc

Analysis

Resources for Independence Inc is a registered charity in United States, based in Cumberland, MD. It received its IRS tax-exemption ruling in October 1996, 30 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 September 2023, Resources for Independence Inc reported income of $594k and spending of $573k, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $447k to $594k (+33%), an average of +7.4% a year. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Resources for Independence Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MD. Charities of a similar size with the same main cause include Longview Dream Center Inc ($594k), Madonna Mission ($594k) and Supplies for Success Inc ($594k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 85% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $103k (18% of expenses). Other salaries and wages came to $247k. At year end it held assets of $214k against liabilities of $14k, net assets of $200k. It reported 10 employees.