Galloway Ridge Inc

Analysis

Galloway Ridge Inc is a registered charity in United States, based in Pittsboro, NC. It received its IRS tax-exemption ruling in March 2005, 21 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 December 2023, Galloway Ridge Inc reported income of $37.4m and spending of $34.7m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $32.2m to $37.4m (+16%), an average of +3.8% a year. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Galloway Ridge Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Achievement Unlimited Inc ($37.4m), Community Options New York Inc ($37.8m) and Housing Assistance Corporation ($37.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.6% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $478k (1.4% of expenses). Other salaries and wages came to $11.8m. At year end it held assets of $140.0m against liabilities of $167.0m, net assets of -$27.1m. It reported 436 employees.