Ridge Housing Inc

Analysis

Ridge Housing Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in May 2000, 26 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 June 2023, Ridge Housing Inc reported income of $90k and spending of $105k, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $59k to $90k (+53%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 41%. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ridge Housing Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 32nd percentile within NC. Charities of a similar size with the same main cause include Cornerstone Apartments Inc ($90k), Riverview Village II Inc ($90k) and Common Fence Point Improvement Association ($90k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 34% of the total. At year end it held assets of $399k against liabilities of $47k, net assets of $353k.

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.