Richmond Home Need Services Inc
Richmond Home Need Services Inc maintains stable finances with consistent revenue generation and no reported officer compensation.
EIN: 132688124 · Staten Island, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.7M |
| Total Expenses | $10.9M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $3.9M |
| Transparency Score | 75/100 |
Is Richmond Home Need Services Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richmond Home Need Services Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richmond Home Need Services Inc
Richmond Home Need Services Inc (EIN: 132688124) is a nonprofit organization based in Staten Island, NY. The organization reported total revenue of $10.7M and total assets of $7.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richmond Home Need Services Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richmond Home Need Services Inc is a large nonprofit that has been operating for 54 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.3M |
| Total Expenses | $10.9M |
| Surplus / Deficit | +$395K |
| Total Assets | $7.9M |
| Total Liabilities | $4.0M |
| Net Assets | $3.9M |
| Operating Margin | 3.5% |
| Debt-to-Asset Ratio | 50.6% |
| Months of Reserves | 8.7 months |
Financial Health Grade: A
In 2023, Richmond Home Need Services Inc reported a surplus of $395K with revenue exceeding expenses, holds 8.7 months of operating reserves (strong position), has a debt-to-asset ratio of 50.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Richmond Home Need Services Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.0% | -6.5% | -4.7% |
| 2022 | -8.3% | -6.0% | -10.1% |
| 2021 | -12.1% | -6.8% | -4.1% |
| 2020 | +8.5% | +9.8% | +27.2% |
| 2019 | +3.4% | +1.2% | +13.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1972 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Richmond Home Need Services Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Richmond Home Need Services Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $395K, with revenue exceeding expenses.
- Debt-to-asset ratio: 50.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size with over $10 million in annual revenue. This could indicate that executive leadership is entirely volunteer-based or that compensation is categorized differently, requiring further scrutiny for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Richmond Home Need Services Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and warrants further investigation into how executive leadership is compensated or if it's entirely volunteer-run.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for Richmond Home Need Services Inc:
- Generally stable financial health with revenues often exceeding expenses, indicating operational sustainability.
- Positive net assets maintained consistently over the past decade, demonstrating financial resilience.
- No reported officer compensation, which could indicate a highly efficient use of funds if leadership is truly volunteer-based.
Frequently Asked Questions about Richmond Home Need Services Inc
Is Richmond Home Need Services Inc a legitimate charity?
Richmond Home Need Services Inc (EIN: 132688124) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $10.7M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Richmond Home Need Services Inc spend its money?
Richmond Home Need Services Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Richmond Home Need Services Inc tax-deductible?
Richmond Home Need Services Inc is registered as a tax-exempt nonprofit (EIN: 132688124). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Richmond Home Need Services Inc CEO make?
Richmond Home Need Services Inc's highest-compensated officer earns $10 annually. The organization reported $10.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Richmond Home Need Services Inc's spending goes to programs?
Richmond Home Need Services Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Richmond Home Need Services Inc located?
Richmond Home Need Services Inc is headquartered in Staten Island, New York and files with the IRS under EIN 132688124.
How many years of IRS 990 filings does Richmond Home Need Services Inc have?
Richmond Home Need Services Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $10.7M in total revenue.
Is Richmond Home Need Services Inc a good charity?
Based on the available data, the organization demonstrates financial stability with revenues generally exceeding expenses. The consistent 0% officer compensation is a unique aspect that could be viewed positively for resource allocation, assuming it's accurately reported and not indicative of hidden compensation. Without detailed program spending ratios, a definitive 'good' rating is difficult, but its financial health appears sound.
How does Richmond Home Need Services Inc manage its executive compensation?
All available IRS 990 filings for Richmond Home Need Services Inc report 0% officer compensation. This suggests that the organization's top executives may not receive direct salaries or that their compensation is reported under other expense categories, which would require a deeper dive into their full financial statements to understand.
What is the trend in Richmond Home Need Services Inc's revenue and expenses?
Richmond Home Need Services Inc has experienced fluctuations in revenue and expenses over the past decade. Revenues peaked around $14.2 million in 2020 and have since slightly declined to $11.2 million in 2023. Expenses generally track revenues, with most years showing a surplus, though deficits occurred in 2017 and 2022.
Filing History
IRS 990 filing history for Richmond Home Need Services Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Richmond Home Need Services Inc's revenue has declined by 9.9%, moving from $12.5M to $11.3M. Total assets increased by 1.3% over the same period, from $7.8M to $7.9M. Total functional expenses fell by 15%, from $12.8M to $10.9M. In its most recent filing year (2023), Richmond Home Need Services Inc reported a surplus of $395K, with revenue exceeding expenses. The organization holds $4.0M in liabilities against $7.9M in assets (debt-to-asset ratio: 50.6%), resulting in net assets of $3.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.3M | $10.9M | $7.9M | $4.0M | — | — |
| 2022 | $11.5M | $11.6M | $8.3M | $4.8M | — | View 990 |
| 2021 | $12.6M | $12.4M | $9.2M | $5.6M | — | — |
| 2020 | $14.3M | $13.3M | $9.6M | $6.1M | — | View 990 |
| 2019 | $13.2M | $12.1M | $7.6M | $5.1M | — | View 990 |
| 2018 | $12.7M | $12.0M | $6.6M | $5.2M | — | View 990 |
| 2017 | $8.2M | $9.2M | $8.3M | $7.7M | — | View 990 |
| 2016 | $8.1M | $8.1M | $9.6M | $7.4M | — | View 990 |
| 2015 | $9.8M | $9.6M | $10.9M | $8.3M | — | View 990 |
| 2014 | $10.6M | $10.3M | $9.1M | $6.6M | — | View 990 |
| 2013 | $10.7M | $10.4M | $8.8M | $6.6M | — | View 990 |
| 2012 | $11.6M | $11.6M | $7.8M | $5.9M | — | View 990 |
| 2011 | $12.5M | $12.8M | $7.8M | $5.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.3M, expenses of $10.9M, and assets of $7.9M (revenue -2.0% year-over-year).
- 2022: Revenue of $11.5M, expenses of $11.6M, and assets of $8.3M (revenue -8.3% year-over-year).
- 2021: Revenue of $12.6M, expenses of $12.4M, and assets of $9.2M (revenue -12.1% year-over-year).
- 2020: Revenue of $14.3M, expenses of $13.3M, and assets of $9.6M (revenue +8.5% year-over-year).
- 2019: Revenue of $13.2M, expenses of $12.1M, and assets of $7.6M (revenue +3.4% year-over-year).
- 2018: Revenue of $12.7M, expenses of $12.0M, and assets of $6.6M (revenue +54.5% year-over-year).
- 2017: Revenue of $8.2M, expenses of $9.2M, and assets of $8.3M (revenue +2.1% year-over-year).
- 2016: Revenue of $8.1M, expenses of $8.1M, and assets of $9.6M (revenue -17.9% year-over-year).
- 2015: Revenue of $9.8M, expenses of $9.6M, and assets of $10.9M (revenue -7.1% year-over-year).
- 2014: Revenue of $10.6M, expenses of $10.3M, and assets of $9.1M (revenue -1.4% year-over-year).
- 2013: Revenue of $10.7M, expenses of $10.4M, and assets of $8.8M (revenue -7.2% year-over-year).
- 2012: Revenue of $11.6M, expenses of $11.6M, and assets of $7.8M (revenue -7.6% year-over-year).
- 2011: Revenue of $12.5M, expenses of $12.8M, and assets of $7.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richmond Home Need Services Inc:
Data Sources and Methodology
This transparency report for Richmond Home Need Services Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.