Fedcap Inc

Analysis

Fedcap 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Fedcap Inc reported income of $39.4m and spending of $33.3m, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.5m to $39.4m (+2551%), an average of +127% a year. The sharpest change came in the year to September 2022, when income rose by 853%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fedcap Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include JVS Socal ($39.3m), Rural Community Assistance ($39.7m) and United Ways of California ($39.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $300k (0.9% of expenses). Other salaries and wages came to $15.7m. At year end it held assets of $18.1m against liabilities of $7.6m, net assets of $10.5m. It reported 406 employees.