Surf Development Company Inc

Analysis

Surf Development Company Inc is a registered charity in United States, based in Lompoc, CA. It received its IRS tax-exemption ruling in August 1996, 30 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 June 2023, Surf Development Company Inc reported income of $2.5m and spending of $1.6m, leaving 35% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $914k to $2.5m (+177%), an average of +40% a year. The sharpest change came in the year to June 2023, when income rose by 137%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Surf Development Company Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Whitmarsh Corporation ($2.5m), Dietert Center ($2.5m) and Polus Center for Social and Economic Development ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.2% and program service revenue 71% of the total. Other salaries and wages came to $686k. At year end it held assets of $9.1m against liabilities of $4.8m, net assets of $4.3m. It reported 5 employees.