Nonprofit · EIN 74-3166719
FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC
Also known as LIFT PROGRAM
Tax-exempt (reinstated) · SAN DIEGO, CA 92131
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,343,535 | $5,301,361 | -$2,957,826 | $662,029 | $4,736,796 | -$4,074,767 |
| December 31, 2023 | 990 | $1,361,350 | $1,966,296 | -$604,946 | $2,510,413 | $3,601,824 | -$1,091,411 |
| August 31, 2023 | 990 | $4,463,178 | $5,631,735 | -$1,168,557 | $2,694,259 | $3,180,724 | -$486,465 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,330,065
- Program service revenue
- $13,455
- Investment income
- $15
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $401,000
- Compensation of officers, directors and key employees
- $107,461
- Other salaries and wages
- $129,743
- Salaries, compensation and benefits (total)
- $285,215
- Professional fundraising fees
- $0
- Legal fees
- $368,767
- Occupancy
- $91
- Travel
- $42,796
- Program services (functional)
- $4,750,809
- Management and general (functional)
- $440,691
- Fundraising (functional)
- $109,861
Balance sheet and other
- Total assets, start of year
- $2,510,413
- Total assets, end of year
- $662,029
- Total liabilities, end of year
- $4,736,796
- Net assets, end of year
- -$4,074,767
- Publicly traded securities
- $138,195
- Net assets without donor restrictions
- -$4,164,767
- Net assets with donor restrictions
- $90,000
- Gross receipts
- $2,343,535
- Employees
- 6
- Volunteers
- 11
- Year formed
- 2005
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHAYLON SCOTT | Executive Dir. Officer | 40 | $107,461 | $13,609 |
| KIM FOLSOM | Chairman Trustee or director, Officer | 15 | $0 | $0 |
| SULAIMAN RAHMAN | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| RANDY FRISCH | Trustee Trustee or director | 1 | $0 | $0 |
| ROHAN KALE | Trustee Trustee or director | 1 | $0 | $0 |
| SHARON PAYNE | Trustee Trustee or director | 1 | $0 | $0 |
| YADIRA ESQUEDA | Trustee Trustee or director | 1 | $0 | $0 |
| MAURICE WILSON | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| TAMMIE MARCELENO | Trustee Trustee or director | 1 | $0 | $0 |
| CATHERINE COSTA | Vice President Trustee or director, Officer | 1 | $0 | $0 |
| KURTIS TREVAN | Trustee Trustee or director | 1 | $0 | $0 |
| TONY BIALORUCK | Trustee Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHAYLON SCOTT | Executive Dir. Officer | 40 | $106,573 | $7,218 |
| KIM FOLSOM | Chairman Trustee or director, Officer | 15 | $0 | $0 |
| SULAIMAN RAHMAN | Trustee Trustee or director | 1 | $0 | $0 |
| BEVERLY COLE | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| ALICIA QUINN | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| SHARON PAYNE | Trustee Trustee or director | 1 | $0 | $0 |
| YADIRA ESQUEDA | Trustee Trustee or director | 1 | $0 | $0 |
| MAURICE WILSON | Trustee Trustee or director | 1 | $0 | $0 |
| ROHAN KALE | Director Trustee or director | 1 | $0 | $0 |
| ILA GOMEZ | Trustee Trustee or director | 1 | $0 | $0 |
| KURTIS TREVAN | Trustee Trustee or director | 1 | $0 | $0 |
| TONY BIALORUCK | Trustee Trustee or director | 1 | $0 | $0 |
990 for the year ended August 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHAYLON SCOTT | Executive Dir. Officer | 40 | $105,927 | $6,116 |
| KIM FOLSOM | Chairman Trustee or director, Officer | 15 | $0 | $0 |
| SULAIMAN RAHMAN | Trustee Trustee or director | 1 | $0 | $0 |
| BEVERLY COLE | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| ALICIA QUINN | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| SHARON PAYNE | Trustee Trustee or director | 1 | $0 | $0 |
| YADIRA ESQUEDA | Trustee Trustee or director | 1 | $0 | $0 |
| MAURICE WILSON | Trustee Trustee or director | 1 | $0 | $0 |
| ROHAN KALE | Director Trustee or director | 1 | $0 | $0 |
| ILA GOMEZ | Trustee Trustee or director | 1 | $0 | $0 |
| KURTIS TREVAN | Trustee Trustee or director | 1 | $0 | $0 |
| TONY BIALORUCK | Trustee Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 10755 SCRIPPS POWAY PKWY 202, SAN DIEGO, CA 92131-3924
- In care of
- % KIM FOLSOM
- Mailing address (990-N for 2009)
- 11444 Raedene Way, San Diego CA 92131
- Principal officer (990 for 2024)
- SHAYLON SCOTT, 10755 SCRIPPS POWAY PKWY 202, SAN DIEGO, CA 92131
- Principal officer (990-N for 2009)
- Kim Folsom, 11444 Raedene Way, San Diego CA 92131
- Signed the 990
- SHAYLON SCOTT, Executive Dir.
- Phone
- (619) 869-5815
- Website
- www.liftprogram.com
- Return prepared by
- Leaf & Cole LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 74-3166719 or by the name FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC.
- 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
HELP UNDERSERVED, UNDER-REPRESENTED SMALL BUSINESS OWNERS OVERCOME CHALLENGES THEY FACE DUE TO LACK OF ACCESS TO CAPITAL AND TO ASSIST THEM IN INCREASING BUSINESS CAPACITY RESULTING IN HIGHER REVENUE GROWTH AND PROVIDING MORE JOBS.
Program accomplishments
- FastPath:FastPath is designed for companies generating $1 million to $5 million in annual revenues. The program is best suited for successful Founder/CEOs, needing up to $1 million in growth capital as well as professional development, including leadership skills, confidence, and vision to overcome challenges and realize opportunities in accelerating revenue growth.Expenses $1,599,948 · grants $5,050 · revenue $13,455
- Bootcamp:Bootcamp is for entrepreneurs with established businesses, earning a minimum of $250K in annual revenue, who want to achieve rapid growth. 90-day, weekly online 12 group sessions. Onsite Pitch and Graduation Event in La Jolla, CA, with opportunity to compete for up to $7,500 cash and service prizes. Learn what it takes to develop an effective growth and funding plan that gets funders to say yes to your request to fund your business growth. Includes 9-months of post-program support coaching and support.Expenses $1,357,950 · grants $16,000
- Passport to Funding A five hour, online, interactive, self-paced certification program designed to educate and guide small business owners through the major hurdles stopping them from obtaining the growth funding they need to fund and grow their business. This program is intended for small and medium businesses generating $50,000 to $10,000,000 in annual revenues.Expenses $740,500
- Challenge:Challenge is for entrepreneurs with established businesses, earning between $50,000 and $250,000 in annual revenue, who want to achieve growth. 60-day Mini-Accelerator Program consists of four (4) workshops where you will learn how to work ON your business, not just IN your business! Program completes with Pitch and Graduation Event, with opportunity to compete for up to $5,000 cash and service prizes. Includes 18 months of post-program support coaching and support.Expenses $579,150 · grants $9,200
- Grant Making:The Organization provides funding and business acceleration to diverse-led, small employer-based businesses that are committed to growth and job creation.Expenses $370,750 · grants $370,750
- Clydesdale:Two-month program for 5th grade elementary school students and their families. Students complete language enrichment programs to expose them to concepts/vocabulary about local small business impact in their community, using music. The program is free to participants. Students will participate as youth judges in the regional challenge pitch competition.Expenses $102,511
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 74-3166719
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B99)
- Assets (IRS master file)
- $662,029
- Income (IRS master file)
- $2,343,535
Revocation and reinstatement
- Exemption revoked
- January 15, 2014
- Posted by the IRS
- April 14, 2014
- Reinstated
- Effective August 15, 2016
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,343,535 | $5,301,361 | $662,029 | XML |
| 990 | December 2023 | $1,361,350 | $1,966,296 | $2,510,413 | XML |
| 990 | August 2023 | $4,463,178 | $5,631,735 | $2,694,259 | XML |
| 990 | August 2022 | $3,075,120 | $2,809,172 | $1,528,919 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2019 | – | – | – | IRS |
| 990-EZ | August 2018 | – | – | – | IRS |
| 990-N for 2009 Officer: Kim Folsom | August 31, 2010 | ≤ $50,000 receipts | – | – | e-Postcard |
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 74-3166719).
Questions about FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC
- What is the EIN of FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC?
- The employer identification number (EIN) of FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC is 74-3166719.
- Is FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC tax-exempt?
- Yes. The IRS revoked its exemption on January 15, 2014 and reinstated it effective August 15, 2016.
- Are donations to FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC 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 FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC?
- The 990 for the year ended December 31, 2024 names SHAYLON SCOTT.
- Who are the officers and directors of FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC?
- The 990 for the year ended December 31, 2024 lists 12 people; 1 received compensation from the organization, the highest $107,461 (SHAYLON SCOTT, Executive Dir.).
- How much revenue does FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,343,535, expenses of $5,301,361 and total assets of $662,029 at year end.
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