The Army Retirement Residence Foundation-Potomac

Analysis

The Army Retirement Residence Foundation-Potomac is a registered charity in United States, based in Fort Belvoir, VA. It received its IRS tax-exemption ruling in July 2022, 4 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 December 2023, The Army Retirement Residence Foundation-Potomac reported income of $226k and spending of $207k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $259k to $226k (-13%), an average of -13% a year. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Army Retirement Residence Foundation-Potomac sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 56th percentile within VA. Charities of a similar size with the same main cause include Soup ($226k), First Baptist Housing Development Inc II ($226k) and Wausaukee Housing Corporation ($225k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% of the total. Compensation of current officers, directors and key employees was $98k (47% of expenses). At year end it held assets of $4.5m against liabilities of $221k, net assets of $4.3m. It reported 1 employees.