Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1996.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
81 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
6 people listed on the 990; $155K paid to officers and key staff.
Joseph Gagliardi’s $155K as CEO/President is at the 92nd percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Joseph Gagliardi | $155,226 | $203,607 | $109,442 | $96,733 | $94,766 | $88,979 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Boosts economic well-being for Folsom residents and businesses.
Questions for Folsom Community Development Corporation
Your first name shows with your question. Folsom Community Development Corporation answers here, for everyone.
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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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $3K | $40K |
| Land, buildings, equipmentLn 10c | $626K | $649K |
| Total assetsLn 16 | $770K | $847K |
| LiabilitiesLn 26 | $744K | $707K |
| Net assetsLn 32 | $26K | $140K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $26K | $26K | ||
| Payroll taxesLn 10 | $2K | $2K | ||
| Management feesLn 11a | $2K | $2K | ||
| Legal feesLn 11b | $1K | $1K | ||
| Accounting feesLn 11c | $3K | $3K | ||
| Advertising and promotionLn 12 | $147 | $147 | ||
| Office expensesLn 13 | $52K | $52K | ||
| OccupancyLn 16 | $900 | $900 | ||
| InterestLn 20 | $18K | $18K | ||
| InsuranceLn 23 | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $283K | $283K | ||
| Total functional expensesLn 25 | $391K | $317K | $74K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $505K | $391K | $114K | $140K | 990 PDF |
| FY2024 | $381K | $532K | −$150K | $26K | 990 PDF |
| FY2023 | $352K | $317K | $35K | $82K | 990 PDF |
| FY2022 | $164K | $269K | −$105K | $62K | 990 PDF |
| FY2021 | $390K | $257K | $133K | $168K | 990 PDF |
| FY2020 | $144K | $239K | −$95K | $35K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $504,848 revenue, 12 lines filed
Part VI · Governance 5 of 5 board members independent, 2 to look at
Part VIII · Statement of revenue $504,848 across 6 lines filed
Part IX · Statement of functional expenses $390,724 across 11 lines filed
Part X · Balance sheet $847,041 assets, 13 lines filed
Part XI · Reconciliation of net assets $139,702 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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