Kern Economic Development Foundation

Analysis

Kern Economic Development Foundation is a registered charity in United States, based in Bakersfield, CA. It received its IRS tax-exemption ruling in January 2009, 17 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, Kern Economic Development Foundation reported income of $1.0m and spending of $849k, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $105k to $1.0m (+855%), an average of +76% a year. The sharpest change came in the year to June 2022, when income rose by 1459%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kern Economic Development Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include Illinois Coalition for Community Services ($1.0m), Street Lab Inc ($1.0m) and Koreatown Oakland ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 14% of the total. At year end it held assets of $207k against liabilities of $24k, net assets of $183k.