Teamcalifornia Economic Development Corporation

Analysis

Teamcalifornia Economic Development Corporation is a registered charity in United States, based in Corona, CA. It received its IRS tax-exemption ruling in February 2009, 17 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 2023, Teamcalifornia Economic Development Corporation reported income of $367k and spending of $431k, spending 117% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $271k to $367k (+35%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 126%. Over the whole period it spent 117% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Teamcalifornia Economic Development Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within CA. Charities of a similar size with the same main cause include Harco Industries Inc ($366k), Blossom Sustainable Development ($367k) and Junior League of Columbus Inc ($366k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 93% of the total. Compensation of current officers, directors and key employees was $123k (29% of expenses). Other salaries and wages came to $17k. At year end it held assets of $39k against liabilities of $20k, net assets of $19k. It reported 2 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.