Sharefest Community Development Inc

Analysis

Sharefest Community Development Inc is a registered charity in United States, based in San Pedro, CA. It received its IRS tax-exemption ruling in July 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Sharefest Community Development Inc reported income of $2.2m and spending of $1.9m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $2.2m (+46%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sharefest Community Development Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Meeting Essential Needs with Dignity Inc ($2.2m), Social Impact Partners Inc ($2.2m) and Gothenburg Early Childhood Learning Coalition ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $184k (9.7% of expenses). Other salaries and wages came to $826k. At year end it held assets of $3.2m against liabilities of $80k, net assets of $3.1m. It reported 19 employees.