Growth Factory

Analysis

Growth Factory is a registered charity in United States, based in Rocklin, CA. It received its IRS tax-exemption ruling in August 2022, 4 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, Growth Factory reported income of $856k and spending of $721k, spending 84% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $431k to $856k (+98%), an average of +98% a year. The sharpest change came in the year to December 2023, when income rose by 98%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Growth Factory sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include Sharing Our Roots ($856k), Beautification Council ($856k) and Project Rebuild ($855k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $150k (21% of expenses). Other salaries and wages came to $71k. At year end it held assets of $218k against liabilities of $15k, net assets of $203k. It reported 10 employees.