Stones River Development Corporation

Analysis

Stones River Development Corporation is a registered charity in United States, based in Murfreesboro, TN. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Stones River Development Corporation reported income of $1.8m and spending of $266k, leaving 86% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $962k to $1.8m (+92%), an average of +18% a year. The sharpest change came in the year to March 2023, when income rose by 1193%. Over the whole period it spent 64% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Stones River Development Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within TN. Charities of a similar size with the same main cause include Atlanta Childrens Shelter Inc ($1.8m), Parkway Elderly Housing Development Fund Co Inc ($1.8m) and Meadowbrook Terrace Inc ($1.8m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 66% and program service revenue 5.2% of the total. Other salaries and wages came to $29k. At year end it held assets of $19.3m against liabilities of $66k, net assets of $19.2m.