The Los Angeles Development Fund

Analysis

The Los Angeles Development Fund is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 2008, 18 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Los Angeles Development Fund reported income of $1.7m and spending of $855k, leaving 50% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $726k to $1.7m (+137%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 191%. Over the whole period it spent 47% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Los Angeles Development Fund sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Mason County Action Group Inc ($1.7m), Community Investment Fund Inc ($1.7m) and Metropolitan Detroit Plumbing Industry Training Trust Fund ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 95% of the total. Compensation of current officers, directors and key employees was $419k (49% of expenses). At year end it held assets of $6.7m against liabilities of $456k, net assets of $6.2m. It reported 3 employees.