Paterson Alliance Inc

Analysis

Paterson Alliance Inc is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Paterson Alliance Inc reported income of $309k and spending of $308k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $292k to $309k (+5.8%), an average of +1.4% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Paterson Alliance Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 68th percentile within NJ. Charities of a similar size with the same main cause include Uptown Partnership Inc ($309k), Springfield Community Partnership Management Corporation ($309k) and Northern Tier Industry Education Consortium Inc ($309k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $76k (25% of expenses). Other salaries and wages came to $112k. At year end it held assets of $267k against liabilities of $64k, net assets of $203k. It reported 13 employees.