River City Community Development Corporation

Analysis

River City Community Development Corporation is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in May 1992, 34 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 2022, River City Community Development Corporation reported income of $1.0m and spending of $1.6m, spending 156% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $852k to $1.0m (+20%), an average of +6.3% a year. The sharpest change came in the year to December 2020, when income rose by 77%. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, River City Community Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Veritas Impact Partners ($1.0m), Gibson Foundation Resource Center Inc ($1.0m) and Jackson Hinds Gardens Inc ($1.0m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $104k (6.5% of expenses). Other salaries and wages came to $452k. At year end it held assets of $1.2m against liabilities of $258k, net assets of $973k.

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.