Pace Finance Corporation

Analysis

Pace Finance Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 2013, 13 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, Pace Finance Corporation reported income of $1.4m and spending of $1.2m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $7.1m to $1.4m (-80%), an average of -33% a year. The sharpest change came in the year to December 2020, when income dropped by 78%. Over the whole period it spent 28% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Pace Finance Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Inter-Mountain Fair Heritage Foundation ($1.4m), Urban Restoration Enhancement Corporation ($1.4m) and Lancaster City Alliance ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Other salaries and wages came to $387k. At year end it held assets of $18.6m against liabilities of $3.2m, net assets of $15.3m.