Fruitvale Development Corporation Inc

Analysis

Fruitvale Development Corporation Inc is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in April 1997, 29 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Fruitvale Development Corporation Inc reported income of $5.9m and spending of $7.0m, spending 119% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $4.5m to $5.9m (+32%), an average of +7.3% a year. The sharpest change came in the year to September 2023, when income rose by 24%. Over the whole period it spent 128% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fruitvale Development Corporation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Centro de Economia Creativa Inc ($5.9m), Evergreen Cooperative Corporation ($5.9m) and Polk County Workforce Development Board Inc ($5.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. Other salaries and wages came to $298k. At year end it held assets of $29.7m against liabilities of $19.5m, net assets of $10.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.