Redstone Village

Analysis

Redstone Village is a registered charity in United States, based in Huntsville, AL. It received its IRS tax-exemption ruling in May 2001, 25 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, Redstone Village reported income of $23.4m and spending of $26.0m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.4m to $23.4m (+27%), an average of +6.1% a year. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Redstone Village sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 99th percentile within AL. Charities of a similar size with the same main cause include Bonita Springs Retirement Village Inc ($23.3m), Northeast Denver Housing Center Inc ($23.4m) and Luke Inc ($23.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 98% of the total. Other salaries and wages came to $8.5m. At year end it held assets of $74.1m against liabilities of $149.3m, net assets of -$75.1m. It reported 365 employees.

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.