Mongil Corporation

Analysis

Mongil Corporation is a registered charity in United States, based in Linden, NJ. It received its IRS tax-exemption ruling in November 2006, 20 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Mongil Corporation reported income of $862k and spending of $1.2m, spending 139% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $773k to $862k (+11%), an average of +2.8% a year. Over the whole period it spent 147% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mongil Corporation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within NJ. Charities of a similar size with the same main cause include Silvercrest Senior Housing Development Fund ($862k), Faith Community Development Corporation ($862k) and Millbrook Homes Inc ($862k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 66% and program service revenue 33% of the total. Other salaries and wages came to $162k. At year end it held assets of $13.8m against liabilities of $134k, net assets of $13.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.