Richmond Affordable Housing

Analysis

Richmond Affordable Housing is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in December 1997, 29 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, Richmond Affordable Housing reported income of $2.9m and spending of $2.4m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $669k to $2.9m (+331%), an average of +44% a year. The sharpest change came in the year to December 2023, when income rose by 267%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Richmond Affordable Housing sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Center for Health Design Inc ($2.9m), Providence Ministries for the Needy Inc ($2.9m) and Housing First Steps Forward Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 64% of the total. Other salaries and wages came to $622k. At year end it held assets of $22.5m against liabilities of $14.3m, net assets of $8.2m.