Rio Grande Community Development Corporation

Analysis

Rio Grande Community Development Corporation is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in July 1987, 39 years ago. 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 December 2023, Rio Grande Community Development Corporation reported income of $1.7m and spending of $1.5m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $1.7m (-35%), an average of -10% a year. The sharpest change came in the year to December 2022, when income dropped by 43%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Rio Grande Community Development Corporation 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 84th percentile, and in the 85th percentile within NM. Charities of a similar size with the same main cause include New England Electric Railway Historical Society ($1.7m), International Microelectronics and Packaging Society ($1.7m) and Volunteer Lawyers Network ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 8.9% of the total. Compensation of current officers, directors and key employees was $74k (4.9% of expenses). Other salaries and wages came to $545k. At year end it held assets of $1.7m against liabilities of $670k, net assets of $1.0m. It reported 16 employees.