Reach Riverside Development Corporation

Analysis

Reach Riverside Development Corporation is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in February 2018, 8 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, Reach Riverside Development Corporation reported income of $10.3m and spending of $5.1m, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $10.3m (+605%), an average of +63% a year. The sharpest change came in the year to December 2021, when income rose by 829%. Over the whole period it spent 44% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Reach Riverside Development Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within DE. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($10.3m), Seaview Senior Living Housing Development Fund Corporation ($10.3m) and Milford Housing Development Corperation ($10.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. Compensation of current officers, directors and key employees was $558k (11% of expenses). Other salaries and wages came to $443k. At year end it held assets of $38.0m against liabilities of $393k, net assets of $37.6m. It reported 18 employees.