Rihub

Analysis

Rihub is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in August 2018, 8 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, Rihub reported income of $825k and spending of $683k, spending 83% of its income. Across the 5 years on record, from December 2019 to June 2023, income grew from $409k to $825k (+102%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rihub sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within RI. Charities of a similar size with the same main cause include Southern Windsor County Incubator Inc ($824k), Hawaii Alliance of Nonprofit Organizations ($825k) and Cahaba River Society Inc ($824k).

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 $154k (23% of expenses). Other salaries and wages came to $108k. At year end it held assets of $527k against liabilities of $199k, net assets of $328k. It reported 4 employees.