Folsom Street

Analysis

Folsom Street is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in August 1987, 39 years ago. 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 June 2022, Folsom Street reported income of $460k and spending of $403k, spending 88% of its income. Across the 4 years on record, from December 2019 to June 2022, income fell from $1.3m to $460k (-65%), an average of -29% a year. The sharpest change came in the year to June 2022, when income rose by 1516%. Over the whole period it spent 115% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Folsom Street sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within CA. Charities of a similar size with the same main cause include South Carolina Midlands Emergency Medical Serv Management Assn ($460k), Our Lady of the Rockies Inc ($460k) and Foundation for the Study of Independent Social Ideas Inc ($460k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 96% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $70k (17% of expenses). Other salaries and wages came to $52k. At year end it held assets of $222k against liabilities of $452k, net assets of -$231k. It reported 2 employees.