Founders First Community Development Corporation Inc

Analysis

Founders First Community Development Corporation Inc is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in September 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Founders First Community Development Corporation Inc reported income of $4.5m and spending of $5.6m, spending 126% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $644k to $4.5m (+593%), an average of +62% a year. The sharpest change came in the year to August 2021, when income rose by 381%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Founders First Community Development Corporation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include East Linn Christian Academy ($4.5m), Emmett & Miriam McCoy College of Bus Admin Development Foundation ($4.5m) and Clariden School ($4.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $101k (1.8% of expenses). Other salaries and wages came to $107k. At year end it held assets of $2.7m against liabilities of $3.2m, net assets of -$486k. It reported 4 employees.