Montclair Fund for Educational Excellence Inc

Analysis

Montclair Fund for Educational Excellence Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in September 1991, 35 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, Montclair Fund for Educational Excellence Inc reported income of $736k and spending of $462k, leaving 37% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $447k to $736k (+64%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 51%. Over the whole period it spent 72% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Montclair Fund for Educational Excellence Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within NJ. Charities of a similar size with the same main cause include Swedemom Center of Giving ($736k), Fmi Foundation ($737k) and The Wesley Foundation Inc ($736k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $88k (19% of expenses). Other salaries and wages came to $85k. At year end it held assets of $1.7m against liabilities of $18k, net assets of $1.7m. It reported 7 employees.