Rites of Passage Development Inc

Analysis

Rites of Passage Development Inc is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in July 1995, 31 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Rites of Passage Development Inc reported income of $212k and spending of $184k, spending 87% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $705k to $212k (-70%), an average of -45% a year. The sharpest change came in the year to December 2022, when income dropped by 56%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rites of Passage Development Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 59th percentile within TX. Charities of a similar size with the same main cause include Garland Estates for Seniors Inc ($212k), Piggott Housing Development Corporation ($212k) and Burkesville Manor Inc ($211k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 1.1% of the total. At year end it held assets of $211k against liabilities of $10k, net assets of $201k.