South River Development Corporation

Analysis

South River Development Corporation is a registered charity in United States, based in Waynesboro, VA. It received its IRS tax-exemption ruling in June 1998, 28 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 December 2023, South River Development Corporation reported income of $1.2m and spending of $1.3m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.8m to $1.2m (-33%), an average of -9.4% a year. The sharpest change came in the year to December 2021, when income dropped by 22%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, South River Development Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within VA. Charities of a similar size with the same main cause include Help Another Toward Creative Happiness ($1.2m), Land Connection Foundation ($1.2m) and Family Resource Center of the Redwoods ($1.2m).

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 $206k. At year end it held assets of $8.3m against liabilities of $3.3m, net assets of $5.0m. It reported 13 employees.