Affordable Residences in Chesterfield

Analysis

Affordable Residences in Chesterfield is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 1997, 29 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Affordable Residences in Chesterfield reported income of $583k and spending of $636k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $470k to $583k (+24%), an average of +5.6% a year. Over the whole period it spent 115% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Affordable Residences in Chesterfield sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within VA. Charities of a similar size with the same main cause include 122 Community Center Inc ($583k), United Passaic Organization ($583k) and The Cancer Support Community East Tennessee ($583k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $58k. At year end it held assets of $2.9m against liabilities of $54k, net assets of $2.8m.

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.