Richmont Graduate University

Analysis

Richmont Graduate University is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in January 1956, 70 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Richmont Graduate University reported income of $8.5m and spending of $8.4m, spending 99% of its income. Across the 3 years on record, from June 2020 to June 2022, income grew from $7.7m to $8.5m (+11%), an average of +5.1% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Richmont Graduate University sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within TN. Charities of a similar size with the same main cause include Franklin Academy Incorporated ($8.5m), Manhattan Beach Education Foundation ($8.5m) and Appalachian School of Law ($8.5m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 11% and program service revenue 83% of the total. Other salaries and wages came to $5.2m. At year end it held assets of $8.3m against liabilities of $708k, net assets of $7.5m. It reported 215 employees.