Rio Concho Inc

Analysis

Rio Concho Inc is a registered charity in United States, based in San Angelo, TX. It received its IRS tax-exemption ruling in December 1977, 49 years ago. 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, Rio Concho Inc reported income of $5.1m and spending of $6.0m, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.0m to $5.1m (+2.3%), an average of +0.6% a year. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rio Concho Inc 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 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include National Public Education Support Fund ($5.1m), Senior Resource Development Agency Pueblo Inc ($5.1m) and Young Mens Christian Association ($5.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 106% of the total. Compensation of current officers, directors and key employees was $106k (1.8% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $19.5m against liabilities of $16.5m, net assets of $3.0m. It reported 56 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.