San Diego Regional Economic Development Foundation

Analysis

San Diego Regional Economic Development Foundation is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in March 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, San Diego Regional Economic Development Foundation reported income of $553k and spending of $662k, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $849k to $553k (-35%), an average of -10% a year. The sharpest change came in the year to June 2020, when income rose by 215%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, San Diego Regional Economic Development Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Tahoe Prosperity Center ($553k), Antelope Valley Foundation for the Developmentally Disabled ($553k) and Mountain Valley Economic Opportunity Authority ($553k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $2,165. At year end it held assets of $404k against liabilities of $22k, net assets of $382k. 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.