Cabrillo Economic Development Corp

Analysis

Cabrillo Economic Development Corp is a registered charity in United States, based in Ventura, CA. It received its IRS tax-exemption ruling in June 1982, 44 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Cabrillo Economic Development Corp reported income of $4.2m and spending of $3.9m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.7m to $4.2m (-9.8%), an average of -2.5% a year. The sharpest change came in the year to December 2021, when income rose by 67%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cabrillo Economic Development Corp sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Allentown Rescue Mission Inc ($4.2m), Friendship Village Charitable TR ($4.2m) and Valley Community Development Corporation ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $666k (17% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $65.7m against liabilities of $22.5m, net assets of $43.2m. It reported 95 employees.