Folsom Economic Development Corporation

Analysis

Folsom Economic Development Corporation is a registered charity in United States, based in Folsom, CA. It received its IRS tax-exemption ruling in November 1996, 30 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, Folsom Economic Development Corporation reported income of $352k and spending of $317k, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $286k to $352k (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2021, when income rose by 171%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Folsom Economic Development Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 67th percentile within CA. Charities of a similar size with the same main cause include National Association of Negro Business and Professional Womens C ($352k), Sacramento Area Roofer Joint Apprenticeship Training Fund ($352k) and Orinda Association ($351k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $109k (35% of expenses). At year end it held assets of $754k against liabilities of $671k, net assets of $82k. It reported 6 employees.