The Fedcap Group Inc

Analysis

The Fedcap Group Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, The Fedcap Group Inc reported income of $24.7m and spending of $24.2m, spending 98% of its income. Across the 3 years on record, from September 2021 to September 2023, income grew from $365k to $24.7m (+6668%), an average of +723% a year. The sharpest change came in the year to September 2022, when income rose by 2321%. Over the whole period it spent 123% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Fedcap Group Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Private Industry Council of Westmoreland Fayette Inc ($24.7m), Outlook-Nebraska Inc ($24.7m) and Woodlands Religious Community Inc ($24.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 5.2% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $2.0m (8.5% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $27.1m against liabilities of $35.1m, net assets of -$7.9m. It reported 108 employees.