Fairmount Community Development Corporation

Analysis

Fairmount Community Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in June 2002, 24 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, Fairmount Community Development Corporation reported income of $623k and spending of $249k, leaving 60% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $227k to $623k (+175%), an average of +29% a year. The sharpest change came in the year to June 2023, when income rose by 92%. Over the whole period it spent 68% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fairmount Community Development Corporation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within PA. Charities of a similar size with the same main cause include East Montgomery County Economic Development Corporation ($623k), The Conscious Connect Redevelopment Corporation ($623k) and Berks County Industrial Development Foundation ($622k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $65k (26% of expenses). Other salaries and wages came to $3,846. At year end it held assets of $951k against liabilities of $304k, net assets of $647k. It reported 2 employees.