FOLSOM COMMUNITY DEVELOPMENT CORPO… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

JOSEPH GAGLIARDI

Phone

9169852698

Tax Period

2023-07-01 to 2024-06-30

FOLSOM COMMUNITY DEVELOPMENT CORPORATION, founded in 1996, is a small nonprofit in the Community Improvement sector that reported $381K in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $532K exceeded revenue, resulting in a 39% operating deficit.

Mission

THE ORGANIZATION WILL ENCOURAGE SOUND AND BENEFICIAL ECONOMIC DEVELOPMENT IN THE CITY OF FOLSOM BY DEVELOPING AND MANAGING REAL PROPERTY. THE CORPORATION WILL LESSEN THE BURDENS OF GOVERNMENT BY ASSISTING IN DEVELOPING PUBLIC PROPERTIES. THE CORPORATION WILL PROMOTE SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY DEVELOPING AND MANAGING DISADVANTAGED REAL PROPERTY IN FOLSOM.

Program Service Accomplishments

Program 1

Expenses: $389,577 Revenue: $441,024

THE CORPORATION ENCOURAGED SOUND AND BENEFICIAL ECONOMIC DEVELOPMENT IN THE CITY OF FOLSOM BY DEVELOPING AND MANAGING REAL PROPERTY. THE CORPORATION LESSENED THE BURDENS OF GOVERNMENT BY ASSISTING IN DEVELOPING PUBLIC PROPERTIES. THE CORPORATION PROMOTED SOCIAL WELFARE AND COMBAT COMMUNITY DETERIORATION BY DEVELOPING AND MANAGING DISADVANTAGED REAL PROPERTY IN FOLSOM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $441,024

Program Service Revenue $0

Investment Income $0

Other Revenue $-59,660

TOTAL REVENUE $381,364

Expense Breakdown

Grants Paid $0

Salaries & Benefits $121,928

Fundraising Expenses $0

Program Expenses $389,577

Other Expenses $409,779

TOTAL EXPENSES $531,707

Year-over-Year Comparison

	2023	2022	Change
Revenue	$381,364	$352,017	+0.1%
Expenses	$531,707	$317,036	+0.7%
Net Income	$-150,343	$34,981	-5.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$260,979

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT HOLDERNESS	CHAIR	0.25	Officer Director	$0	$0	$0
ROB ARAGON	TREASURER	0.25	Officer Director	$0	$0	$0
DON REID	SECRETARY	0.25	Officer Director	$0	$0	$0
JOHN MESSNER	DIRECTOR	0.25	Officer Director	$0	$0	$0
EILEEN REYNOLDS	DIRECTOR	0.25	Officer Director	$0	$0	$0
PETE THOMPSON	DIRECTOR	0.25	Officer Director	$0	$0	$0
JOSEPH GAGLIARDI	CEO/PRESIDENT	20.00	Officer	$203,607	$0	$260,979

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$381,364	$531,707	$770,006	$-150,343
2023	$352,017	$317,036	$753,583	$34,981
2022	$164,194	$269,397	$714,981	$-105,203
2021	$389,676	$257,101	$902,511	$132,575
2020	$143,842	$238,718	$80,074	$-94,876
2019	$286,400	$256,085	$129,861	$30,315
2018	$413,658	$318,581	$126,371	$95,077

FOLSOM COMMUNITY DEVELOPMENT CORPORATION