Ross Creek Housing Phase II Inc

Analysis

Ross Creek Housing Phase II Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in April 2007, 19 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, Ross Creek Housing Phase II Inc reported income of $54k and spending of $75k, spending 140% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $41k to $54k (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2023, when income rose by 38%. Over the whole period it spent 150% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ross Creek Housing Phase II Inc sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 19th percentile within NC. Charities of a similar size with the same main cause include Friends of the Homeless Inc ($54k), Community Apartments Corporation of Rutherford County 2 ($54k) and Gainesville Nonprofit Development Foundation Inc ($53k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 33% of the total. At year end it held assets of $695k against liabilities of $339k, net assets of $356k.

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.