Santa Cruz County Veterans Memorial Building Board of Trustee

Analysis

Santa Cruz County Veterans Memorial Building Board of Trustee is a registered charity in United States, based in Santa Cruz, CA. It received its IRS tax-exemption ruling in March 1995, 31 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Santa Cruz County Veterans Memorial Building Board of Trustee reported income of $6.4m and spending of $507k, leaving 92% of income unspent that year. Across the 3 years on record, from June 2020 to June 2023, income grew from $223k to $6.4m (+2783%), an average of +437% a year. The sharpest change came in the year to June 2023, when income rose by 601%. Over the whole period it spent 16% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Santa Cruz County Veterans Memorial Building Board of Trustee sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Southeast Ark Economic Development Dist Inc ($6.4m), NHS Neighborhood Lending Services ($6.4m) and Taylor Economic Development ($6.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% and program service revenue 0.6% of the total. Other salaries and wages came to $243k. At year end it held assets of $7.3m against liabilities of $972k, net assets of $6.4m. It reported 7 employees.