Steadfast Foundation

Analysis

Steadfast Foundation is a registered charity in United States, based in Baton Rouge, LA. It received its IRS tax-exemption ruling in March 2022, 4 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 August 2023, Steadfast Foundation reported income of $1.0m and spending of $180k, leaving 83% of income unspent that year. Across the 2 years on record, from August 2022 to August 2023, income grew from $133k to $1.0m (+680%), an average of +680% a year. The sharpest change came in the year to August 2023, when income rose by 680%. Over the whole period it spent 24% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Steadfast Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within LA. Charities of a similar size with the same main cause include Colorado Procurement Technical Assistance Center ($1.0m), Alabama Judicial College Education Fund ($1.0m) and Rockwood Market Hall ($1.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $124k (69% of expenses). At year end it held assets of $895k against liabilities of $511, net assets of $894k. It reported 3 employees.