Richdale Inc
- Assets
- $871.0k
- Revenue
- $71.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Medford, MA
- Founding
- 07/2002
- Data as of
- 06/2023
- EIN
- 30-0094637
Organization Overview
Richdale Inc is located in Medford, MA. The organization was established in 2002. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richdale Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Richdale Inc generated $71.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $89.1k during the year ending 06/2023. While expenses have increased by 1.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES RESIDENTIAL HOUSING FOR LOW-INCOME, DEVELOPMENTALLY DISABLED PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wheeler President | 0.3 | $0 | |
Kevin Gatlin Former Treasurer | 0.3 | $0 | |
David Blumsack Clerk | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $36 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $71,249 |
| Total Revenue | $71,285 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $14,485 |
| Pension plans, employee benefits | $4,314 |
| Interest | $0 |
| Taxes | $2,500 |
| Depreciation | $26,447 |
| Occupancy | $32,995 |
| Travel, conferences, and meetings | $94 |
| Printing and publications | $0 |
| Other expenses | $4,643 |
| Total operating and administrative expenses | $89,058 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $89,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $496 |
| Savings and temporary cash investments | $23,654 |
| Net Accounts receivable | $782 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,545 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $844,552 |
| Other assets | $0 |
| Total assets | $871,029 |
| Accounts payable and accrued expenses | $61,970 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $552,629 |
| Other liabilities | $2,058 |
| Total liabilities | $616,657 |