Santa Clarita Valley Economic Development Corporation

Analysis

Santa Clarita Valley Economic Development Corporation is a registered charity in United States, based in Valencia, CA. It received its IRS tax-exemption ruling in December 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 December 2023, Santa Clarita Valley Economic Development Corporation reported income of $1.1m and spending of $1.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $755k to $1.1m (+43%), an average of +9.4% a year. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Santa Clarita Valley Economic Development Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within CA. Charities of a similar size with the same main cause include Greater Sterling Development Corp ($1.1m), Leadership Pittsburgh Inc ($1.1m) and Seeed Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $253k (25% of expenses). Other salaries and wages came to $210k. At year end it held assets of $979k against liabilities of $32k, net assets of $947k. It reported 6 employees.