Rich-Restoring Inner City Hope Inc

Analysis

Rich-Restoring Inner City Hope Inc is a registered charity in United States, based in Brooklyn, MD. It received its IRS tax-exemption ruling in May 2024, 2 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2023, Rich-Restoring Inner City Hope Inc reported income of $208k and spending of $229k, spending 110% of what it took in. Across the 4 years on record, from June 2021 to June 2023, income grew from $127k to $208k (+64%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 64%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rich-Restoring Inner City Hope Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within MD. Charities of a similar size with the same main cause include Jackson Metro Sponsoring Committee ($208k), Paso Robles Main Street Inc ($208k) and Crow Wing County Victim Services Inc ($208k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $51k (22% of expenses). At year end it held assets of -$4,745 against liabilities of $0, net assets of -$4,745. It reported 1 employees.