Rising Tide Partners

Analysis

Rising Tide Partners is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in August 2021, 5 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, Rising Tide Partners reported income of $2.1m and spending of $2.5m, spending 119% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $539k to $2.1m (+294%), an average of +58% a year. The sharpest change came in the year to December 2022, when income rose by 300%. Over the whole period it spent 65% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rising Tide Partners sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within PA. Charities of a similar size with the same main cause include Jewish Home of Central New York Senior Apartments Inc ($2.1m), Cascap Realty Inc ($2.1m) and Community Homeworks ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $120k (4.8% of expenses). Other salaries and wages came to $536k. At year end it held assets of $18.4m against liabilities of $16.1m, net assets of $2.3m. It reported 9 employees.