Nonprofit · EIN 68-0377492
FOLSOM ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · FOLSOM, CA 95630
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $504,848 | $390,724 | $114,124 | $847,041 | $707,339 | $139,702 |
| June 30, 2024 | 990 | $381,364 | $531,707 | -$150,343 | $770,006 | $744,428 | $25,578 |
| June 30, 2023 | 990 | $352,017 | $317,036 | $34,981 | $753,583 | $671,472 | $82,111 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $529,686
- of which government grants
- $300,938
- Program service revenue
- $0
- Investment income
- $5,822
- Net rental income
- -$30,660
- Other revenue
- -$30,660
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $26,254
- Salaries, compensation and benefits (total)
- $28,333
- Professional fundraising fees
- $0
- Legal fees
- $1,216
- Accounting fees
- $2,600
- Occupancy
- $900
- Program services (functional)
- $317,208
- Management and general (functional)
- $73,516
Balance sheet and other
- Total assets, start of year
- $770,006
- Total assets, end of year
- $847,041
- Total liabilities, end of year
- $707,339
- Net assets, end of year
- $139,702
- Land, buildings and equipment
- $648,597
- Gross unrelated business income
- $5,822
- Gross receipts
- $614,956
- Employees
- 6
- Volunteers
- 0
- Year formed
- 1996
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| JOSEPH GAGLIARDI | CEO/PRESIDENT Officer | 20 | $155,226 | $109,707 |
| ROBERT HOLDERNESS | CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| ROB ARAGON | TREASURER Trustee or director, Officer | 0 | $0 | $0 |
| JOHN MESSNER | SECRETARY Trustee or director, Officer | 0 | $0 | $0 |
| EILEEN REYNOLDS | VICE CHAIRPERSON Trustee or director, Officer | 0 | $0 | $0 |
| PETE THOMPSON | DIRECTOR Trustee or director, Officer | 0 | $0 | $0 |
990 for the year ended June 30, 2024: 7 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| JOSEPH GAGLIARDI | CEO/PRESIDENT Officer | 20 | $203,607 | $57,372 |
| ROBERT HOLDERNESS | CHAIR Trustee or director, Officer | 0.25 | $0 | $0 |
| ROB ARAGON | TREASURER Trustee or director, Officer | 0.25 | $0 | $0 |
| DON REID | SECRETARY Trustee or director, Officer | 0.25 | $0 | $0 |
| JOHN MESSNER | DIRECTOR Trustee or director, Officer | 0.25 | $0 | $0 |
| EILEEN REYNOLDS | DIRECTOR Trustee or director, Officer | 0.25 | $0 | $0 |
| PETE THOMPSON | DIRECTOR Trustee or director, Officer | 0.25 | $0 | $0 |
990 for the year ended June 30, 2023: 7 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JOSEPH GAGLIARDI | CEO/PRESIDENT Officer | 20 | $109,442 | $109,951 | $5,598 |
| ROBERT HOLDERNESS | CHAIR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| ROBERT FLAUT | VICE CHAIR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| ROB ARAGON | TREASURER Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| DON REID | SECRETARY Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| JOHN MESSNER | DIRECTOR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| EILEEN REYNOLDS | DIRECTOR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 200 WOOL ST, FOLSOM, CA 95630-2549
- Principal officer (990 for 2024)
- JOSEPH GAGLIARDI, 200 WOOL STREET, FOLSOM, CA 95630
- Signed the 990
- JOSEPH GAGLIARDI, CEO/PRESIDENT
- Phone
- (916) 985-2698
- Website
- WWW.CHOOSEFOLSOM.COM
- Return prepared by
- AP GROUP INC
California records
California keeps its own records of charities and corporations. Search them by EIN 68-0377492 or by the name FOLSOM ECONOMIC DEVELOPMENT CORPORATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
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 accomplishments
- 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.Expenses $317,208 · revenue $459,766
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 68-0377492
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1996
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $847,041
- Income (IRS master file)
- $614,956
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $504,848 | $390,724 | $847,041 | IRS |
| 990 | June 2024 | $381,364 | $531,707 | $770,006 | IRS |
| 990 | June 2023 | $352,017 | $317,036 | $753,583 | IRS |
| 990 | June 2022 | $164,194 | $269,397 | $714,981 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 68-0377492).
Questions about FOLSOM ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of FOLSOM ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of FOLSOM ECONOMIC DEVELOPMENT CORPORATION is 68-0377492.
- Is FOLSOM ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
- Are donations to FOLSOM ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOLSOM ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FOLSOM ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOLSOM ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of FOLSOM ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names JOSEPH GAGLIARDI.
- Who are the officers and directors of FOLSOM ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 6 people; 1 received compensation from the organization, the highest $155,226 (JOSEPH GAGLIARDI, CEO/PRESIDENT).
- How much revenue does FOLSOM ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $504,848, expenses of $390,724 and total assets of $847,041 at year end.
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