Irc II Inc

Analysis

Irc II Inc is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in September 2017, 9 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, Irc II Inc reported income of $16.0m and spending of $20.7m, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.9m to $16.0m (+34%), an average of +7.7% a year. The sharpest change came in the year to June 2020, when income rose by 17%. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Irc II Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NE. Charities of a similar size with the same main cause include Housing Development Corporation Midatlantic ($15.9m), Irvine Campus Housing Authority ($16.0m) and Bridge Property Management Company ($15.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $286k (1.4% of expenses). Other salaries and wages came to $5.9m. At year end it held assets of $68.7m against liabilities of $3.5m, net assets of $65.2m.

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.