Rappahannock Elder Housing Corp

Analysis

Rappahannock Elder Housing Corp is a registered charity in United States, based in Culpeper, VA. It received its IRS tax-exemption ruling in April 2001, 25 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rappahannock Elder Housing Corp reported income of $94k and spending of $138k, spending 146% of what it took in. Across the 4 years on record, from June 2019 to June 2023, income grew from $82k to $94k (+14%), an average of +4.6% a year. Over the whole period it spent 151% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rappahannock Elder Housing Corp sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 35th percentile within VA. Charities of a similar size with the same main cause include Residence Connection Inc ($94k), Fairground Apartments Inc ($94k) and Affordable Housing Preservation Foundation ($94k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $6,546. At year end it held assets of $1.5m against liabilities of $103k, net assets of $1.4m.

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.