Phoenix Residential Investment Development Effort

Analysis

Phoenix Residential Investment Development Effort is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in October 1991, 35 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 June 2023, Phoenix Residential Investment Development Effort reported income of $2.8m and spending of $4.1m, spending 147% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $2.8m (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2020, when income rose by 128%. Over the whole period it spent 118% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phoenix Residential Investment Development Effort sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within AZ. Charities of a similar size with the same main cause include Clover House Inc ($2.8m), Youth Unlimited Gospel Outreach ($2.8m) and Young Mens Christian Assn ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $16.7m against liabilities of $18.8m, net assets of -$2.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.