NonprofitsFounders First Community Development Corporation Inc

Education

Founders First Community Development Corporation Inc

SAN DIEGO, CA

Total revenue

$2.3M

Total expenses

$5.3M

Net assets

Grants received

$8.2M

43 grants

EIN

743166719

Tax year

2024

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.

Programs

5 programs

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: $1.4MGrants: $16K

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: $741K

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: $579KGrants: $9K

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: $371KGrants: $371K

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: $103K

Financials

FY 2024

Revenue

Contributions & grants$2.3M
Program service revenue$13K
Investment income$15
Other revenue
Total revenue$2.3M

Expenses

Grants paid$401K
Salaries & benefits$285K
Fundraising$110K
Other expenses$4.6M
Total expenses$5.3M
Total assets$662K
Net assets

People

12 listed

NameRoleCompensation

SHAYLON SCOTT

Executive Dir.

Board

$107K

40 hrs/wk

KIM FOLSOM

Chairman

Board

15 hrs/wk

SULAIMAN RAHMAN

Treasurer

Board

1 hrs/wk

RANDY FRISCH

Trustee

Board

1 hrs/wk

ROHAN KALE

Trustee

Board

1 hrs/wk

SHARON PAYNE

Trustee

Board

1 hrs/wk

YADIRA ESQUEDA

Trustee

Board

1 hrs/wk

MAURICE WILSON

Secretary

Board

1 hrs/wk

TAMMIE MARCELENO

Trustee

Board

1 hrs/wk

CATHERINE COSTA

Vice President

Board

1 hrs/wk

KURTIS TREVAN

Trustee

Board

1 hrs/wk

TONY BIALORUCK

Trustee

Board

1 hrs/wk

Independent contractors

FOUNDERS FIRST CAPITAL

PROGRAM SUPPORTING

$3.8M

WITH REASON LLC

PROGRAM SUPPORTING

$102K

Grants received

Showing 43 of 43

FromAmountPurposeYear
$1.4M
GENERAL SUPPORT
2024
$520K
IN SUPPORT OF NEIGHBORHOOD REVITALIZATION
2024
$200K
TO SUPPORT A BUSINESS ACCELERATOR PROGRAM IN CHICAGO THAT HELPS DEVELOP AND GROW THE BUSINESSES OF ENTREPRENEURS WHO ARE BIPOC, WOMEN, VETERANS, LGTBQ+, OR LOCATED IN LOW- AND MODERATE-INCOME AREAS
2024
$140K
SUPPORT FOR 2024 GENERAL OPERATING EXPENSE. 202402-14735
2024
$50K
GENERAL SUPPORT
2024
$825K
GENERAL SUPPORT
2023
$250K
IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION
2023
$250K
For grant recipient's exempt purposes
2023
$183K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2023
$150K
Jobs and Family Economic Security
2023
$100K
to support a business accelerator program in Chicago that helps develop and grow the businesses of entrepreneurs who are BIPOC, women, veterans, LGTBQ+, or located in low- and moderate-income areas
2023
$100K
PROJECT FUND
2023
$50K
GENERAL SUPPORT
2023
$25K
GENERAL OPERATING
2023
$25K
SUPPORT FOR FOUNDERS FIRST TO EXPAND THEIR SERIES OF ENTREPRENEUR SUPPORT PROGRAMS TARGETING WOMEN AND DIVERSE FOUNDERS TO SERVE EIGHT NEW REGIONAL MARKETS. 202009-9223
2023
$10K
TO SUPPORT YOUTH SPORTS PROGRAMS AND OTHER CHARITABLE PURPOSES
2023
$5K
INCLUSIVE ECONOMY FOR DIVERSE FOUNDERS
2023
$300K
FURTHER CHARITABLE GOALS
2022
$300K
IN GENERAL SUPPORT OF ITS MISSION TO GROW AND EXPAND DIVERSE, FOUNDER-LED SMALL BUSINESSES THROUGHOUT THE U.S.
2022
$300K
FOR CORE OPERATING SUPPORT TO STRENGTHEN THE ECONOMIC MOBILITY OF FOUNDERS AND OTHER SMALL BUSINESS OWNERS IN SAN DIEGO AND ACROSS SOUTHERN CALIFORNIA, WITH ATTENTION TO THE AFRICAN AMERICAN COMMUNITY.
2022
$250K
FOR RECIPIENT'S EXEMPT PURPOSE
2022
$209K
SUPPORT FOR FOUNDERS FIRST TO EXPAND THEIR SERIES OF ENTREPRENEUR SUPPORT PROGRAMS TARGETING WOMEN AND DIVERSE FOUNDERS TO SERVE EIGHT NEW REGIONAL MARKETS. 202009-9223
2022
$184K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2022
$184K
EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
2022
$150K
provide technical assistance through growth accelerator programs creating a pathway to grow small businesses and connect them to resources throughout the region's ecosystem
2022
$75K
to support the expansion of its business accelerator program to Chicago to help develop and grow the enterprises of entrepreneurs who are BIPOC, women, veterans or located in low- and moderate-income areas
2022
$25K
CHARITABLE CONTRIBUTION
2022
$10
GENERAL OPERATING SUPPORT
2022
$150K
In support of Founders First Small Business Growth Accelerator.
2021
$150K
In support of Founders First Small Business Growth Accelerator.
2021
$130K
For recipient's exempt purpose
2021
$75K
to support the expansion of its business accelerator program to Chicago to help develop and grow the enterprises of entrepreneurs who are BIPOC women veterans or located in low- and moderate-income areas
2021
$75K
to support the expansion of its business accelerator program to Chicago to help develop and grow the enterprises of entrepreneurs who are BIPOC, women, veterans or located in low- and moderate-income areas.
2021
$25K
OPERATIONS
2021
$300K
TO SUPPORT FOUNDER'S FIRST CAPITAL PROVIDER'S SMALL BUSINESS GROWTH ACCELERATOR
2020
$300K
IN GENERAL SUPPORT OF ITS MISSION TO GROW AND EXPAND DIVERSE, FOUNDER-LED SMALL BUSINESSES THROUGHOUT THE U.S.
2020
$35K
FOR RECIPIENT'S EXEMPT PURPOSE
2020
$20K
TO SUPPORT BUSINESSES OF COLOR
2019

Funded by

$8.2M from 21 funders · 43 grants · 2019–2024

Impactassetsinc

$2.3M · 3 grants · 2023–2024

Jpmorgan Chase Foundation

$770K · 3 grants · 2022–2024

The Chicago Community Trust

$620K · 4 grants · 2019–2021

The Rockefeller Foundation

$600K · 2 grants · 2020–2022

Tides Foundation

$551K · 3 grants · 2022–2023

John D And Catherine T Macarthur

$525K · 5 grants · 2021–2024

Silicon Valley Community Foundation

$500K · 2 grants · 2023–2024

Vanguard Charitable Endowment Program

$415K · 3 grants · 2020–2022

Details

EIN743166719
NTEE codeB99
Subsection03
Ruling date2016-09
Formed2005
Employees6
Volunteers11
FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC — Mission, Financials & Grants Received | Grantivo