Advance Redding

Analysis

Advance Redding is a registered charity in United States, based in Redding, CA. It received its IRS tax-exemption ruling in September 2012, 14 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Advance Redding reported income of $1.6m and spending of $1.6m, spending 102% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.6m to $1.6m (-0.1%), an average of +-0.0% a year. The sharpest change came in the year to July 2022, when income rose by 154%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Advance Redding sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Greater Michigan Ua Local 190 Joint Training Committee ($1.6m), The Freedom Bound Center ($1.6m) and Erie Downtown Development Corporation ($1.6m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 16% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $153k (9.6% of expenses). Other salaries and wages came to $484k. At year end it held assets of $4.7m against liabilities of $2.6m, net assets of $2.0m. It reported 62 employees.