Oakmont Community Development Corporation

Analysis

Oakmont Community Development Corporation is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in June 1998, 28 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, Oakmont Community Development Corporation reported income of $103k and spending of $115k, spending 112% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $164k to $103k (-37%), an average of -37% a year. The sharpest change came in the year to December 2023, when income dropped by 37%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Oakmont Community Development Corporation sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within VA. Charities of a similar size with the same main cause include Fred M Fuller Tuw ($103k), Gates Mills Improvement Society ($103k) and Santa Ana Kiwanis Club Foundation ($103k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. At year end it held assets of $102k against liabilities of $26k, net assets of $76k.