Young Israel of Margate

Analysis

Young Israel of Margate is a registered charity in United States, based in Margate City, NJ. It received its IRS tax-exemption ruling in January 2013, 13 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Young Israel of Margate reported income of $276k and spending of $299k, spending 108% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $277k to $276k (-0.1%), an average of +-0.0% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Young Israel of Margate sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 67th percentile within NJ. Charities of a similar size with the same main cause include Volunteers of America Inc ($276k), En Foco Incorporated ($276k) and Meher Mount Corporation ($276k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $14k (4.5% of expenses). At year end it held assets of $1.3m against liabilities of $772k, net assets of $535k.

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.