Rimta Foundation

Analysis

Rimta Foundation is a registered charity in United States, based in Newport, 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 September 2023, Rimta Foundation reported income of $51k and spending of $35k, leaving 32% of income unspent that year. Across the 4 years on record, from September 2020 to September 2023, income fell from $202k to $51k (-75%), an average of -37% a year. The sharpest change came in the year to September 2023, when income rose by 104%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rimta Foundation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within RI. Charities of a similar size with the same main cause include Advancect Foundation Inc ($51k), Morrisville Innovation Foundation ($51k) and MCPR Services Inc ($51k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $43k against liabilities of $5,002, net assets of $38k. It reported 4 employees.