Richmond Residential Services Inc

Analysis

Richmond Residential Services Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in August 1982, 44 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 2023, Richmond Residential Services Inc reported income of $11.6m and spending of $9.3m, spending 80% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.6m to $11.6m (+52%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 32%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Richmond Residential Services Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within VA. Charities of a similar size with the same main cause include Mainstream Nonprofit Solutions Inc ($11.5m), Harry Meyering Center Inc ($11.6m) and Hopesparks ($11.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $145k (1.6% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $10.3m against liabilities of $2.3m, net assets of $8.0m. It reported 160 employees.