California Emerging Technology Fund

Analysis

California Emerging Technology Fund is a registered charity in United States, based in Concord, CA. It received its IRS tax-exemption ruling in April 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2024, California Emerging Technology Fund reported income of $2.7m and spending of $10.6m, spending 398% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $35.2m to $2.7m (-92%), an average of -48% a year. The sharpest change came in the year to June 2022, when income rose by 393%. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, California Emerging Technology Fund sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Anna Community Development Corporation ($2.7m), Cherish Families ($2.7m) and Natick Service Council Inc ($2.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 30% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $1.9m (17% of expenses). Other salaries and wages came to $486k. At year end it held assets of $18.8m against liabilities of $408k, net assets of $18.4m. It reported 14 employees.

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.