California Capital Financial Development Corporation

Analysis

California Capital Financial Development Corporation is a registered charity in United States, based in Sacramento, CA. It received its IRS tax-exemption ruling in January 1983, 43 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, California Capital Financial Development Corporation reported income of $4.1m and spending of $3.8m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $4.1m (+85%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 117%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, California Capital Financial Development Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Avodah the Jewish Service Corps Inc ($4.1m), Asian Community Development Council ($4.1m) and Oregon Northwest Workforce Investment Board ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $652k (17% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $4.8m against liabilities of $1.5m, net assets of $3.3m. It reported 34 employees.