3 Core Inc
- Assets
- $9.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Chico, CA
- Founding
- 12/1996
- Data as of
- 06/2024
- EIN
- 68-0065873
Organization Overview
3 Core Inc is located in Chico, CA. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 06/2024, 3 Core Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 3 Core Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, 3 Core Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.1m during the year ending 06/2024. While expenses have increased by 10.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
SERVE AS AN INTERMEDIARY FOR PUBLIC AND PRIVATE FUNDS THAT FOSTER A STABLE AND DIVERSIFIED LOCAL ECONOMY, TO IMPROVE SOCIAL, ECONOMIC AND EMPLOYMENT CONDITIONS AND IMPLEMENT SOUND, LONG-TERM STRATEGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION AND NATURE OF ACTIVITIES 3CORE, INC. (THE CORPORATION) IS A PRIVATE NOT-FOR-PROFIT CORPORATION ORGANIZED AND ESTABLISHED IN 1985 TO SERVE THE RURAL NORTHERN CALIFORNIA REGION OF BUTTE, GLENN, AND TEHAMA AND THE CITIES THEREIN. THE SPECIFIC PURPOSE OF THE CORPORATION IS TO BE AN INTERMEDIARY FOR PUBLIC AND PRIVATE INVESTMENTS THAT FOSTER A STABLE AND DIVERSIFIED LOCAL ECONOMY, TO IMPROVE SOCIAL, ECONOMIC, AND EMPLOYMENT CONDITIONS THROUGH COLLABORATIVE PARTNERSHIPS AND TO IMPLEMENT A SOUND, LONG-TERM STRATEGY THAT CAN ADDRESS IDENTIFIED COMMUNITY NEEDS THROUGH THE PRIVATE, PUBLIC, AND NONPROFIT ORGANIZATIONS PRINCIPALLY LOCATED WITHIN BUTTE, GLENN, AND TEHAMA COUNTIES. THE CORPORATION IS A FEDERALLY RECOGNIZED ECONOMIC DEVELOPMENT DISTRICT (EDD), A STATE AND FEDERALLY CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI), AND A LICENSED LENDER REGULATED BY THE CALIFORNIA DEPARTMENT OF FINANCIAL PROTECTION AND INNOVATION (DFPI). SERVICES RELATED TO ECONOMIC DEVELOPMENT ARE FUNDED, IN PART, THROUGH VARIOUS FEDERAL GRANTS AND MATCHING FUNDS PROVIDED BY LOCAL JURISDICTIONS. THE CORPORATIONS REVOLVING LOAN FUND PROGRAM PROVIDES FINANCING TO LOCAL BUSINESSES. THE FUNDS FOR THE PROGRAM ARE DERIVED FROM VARIOUS ECONOMIC DEVELOPMENT ADMINISTRATION GRANTS, VARIOUS LOCAL GRANT FUNDS, LOCAL MATCHING FUNDS, VARIOUS EQUITY EQUIVALENT INVESTMENT LOANS, AND REINVESTMENT OF INTEREST AND LOAN FEES. THE CORPORATION ALSO PROVIDES CONTRACT SERVICES, IN PART TO LOCAL GOVERNMENT UNITS, RELATED TO OBTAINING AND ADMINISTERING GRANT PROJECTS. DURING THE CURRENT FISCAL YEAR, THE CORPORATION ADMINISTERED VARIOUS GRANT PROGRAMS AT THE DIRECTION OF LOCAL COUNTIES AND CITIES TO AID SMALL BUSINESSES IN RECOVERY FROM THE ECONOMIC EFFECTS OF THE COVID-19 PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patty Hess Executive Director | Officer | 40 | $93,634 |
Dan Blair President | Trustee | 1 | $0 |
John K Viegas Vice President | Trustee | 1 | $0 |
Starlyn Brown Secretary/treasurer | Trustee | 1 | $0 |
Tony Cardenas Director | Trustee | 1 | $0 |
Toni Scott Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,047,863 |
| All other contributions, gifts, grants, and similar amounts not included above | $552,923 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,600,786 |
| Total Program Service Revenue | $286,681 |
| Investment income | $76,224 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,963,691 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $157,309 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $106,131 |
| Compensation of current officers, directors, key employees. | $24,663 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $380,987 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $63,115 |
| Payroll taxes | $39,297 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $155,527 |
| Advertising and promotion | $15,805 |
| Office expenses | $16,358 |
| Information technology | $10,247 |
| Royalties | $0 |
| Occupancy | $26,771 |
| Travel | $11,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,565 |
| Insurance | $35,544 |
| All other expenses | $66,231 |
| Total functional expenses | $1,135,313 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,332,466 |
| Savings and temporary cash investments | $3,299,195 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $246,901 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,807,245 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,106 |
| Net Land, buildings, and equipment | $636,396 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,355,309 |
| Accounts payable and accrued expenses | $31,044 |
| Grants payable | $43,772 |
| Deferred revenue | $1,282,506 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $250,000 |
| Other liabilities | $102,400 |
| Total liabilities | $1,709,722 |
| Net assets without donor restrictions | $4,612,396 |
| Net assets with donor restrictions | $3,033,191 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,355,309 |
Grants Awarded
Over the last fiscal year, 3 Core Inc has awarded $30,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS AND GIRLS CLUB PURPOSE: SEED GRANT - CAMP FIRE | $10,000 |
BUTTE CO SPORTS EDUCATION FUN PURPOSE: SEED GRANT - CAMP FIRE | $10,000 |
GOLD NUGGET DAYS INC PURPOSE: SEED GRANT - CAMP FIRE | $10,000 |