Kingsport Residential Development Corporation

Analysis

Kingsport Residential Development Corporation is a registered charity in United States, based in Gray, TN. It received its IRS tax-exemption ruling in June 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Kingsport Residential Development Corporation reported income of $66k and spending of $142k, spending 216% of what it took in. Across the 3 years on record, from June 2022 to June 2024, income fell from $335k to $66k (-80%), an average of -56% a year. The sharpest change came in the year to June 2024, when income dropped by 70%. Over the whole period it spent 60% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Kingsport Residential Development Corporation sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 24th percentile within TN. Charities of a similar size with the same main cause include Mission Rebirth Inc ($66k), Lane County Senior Citizens Foundation ($66k) and Dsta Benevolent Fund Inc ($66k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. At year end it held assets of $585k against liabilities of $211k, net assets of $374k.