Bona Fide Conglomerate Inc

Analysis

Bona Fide Conglomerate Inc is a registered charity in United States, based in El Cajon, CA. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover employment, 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 December 2023, Bona Fide Conglomerate Inc reported income of $6.7m and spending of $6.5m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.4m to $6.7m (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2021, when income rose by 114%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bona Fide Conglomerate Inc 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 Midwest Minnesota Community Development Corporation ($6.7m), Private Industry Council of Passaic County Incorporated ($6.7m) and McE Social Capital ($6.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $545k (8.3% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $1.9m against liabilities of $14k, net assets of $1.9m. It reported 126 employees.