Toms River Business Development Corporation

Analysis

Toms River Business Development Corporation is a registered charity in United States, based in Toms River, NJ. It received its IRS tax-exemption ruling in January 2004, 22 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, Toms River Business Development Corporation reported income of $425k and spending of $468k, spending 110% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $239k to $425k (+78%), an average of +12% a year. The sharpest change came in the year to December 2019, when income rose by 70%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Toms River Business Development Corporation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 73rd percentile within NJ. Charities of a similar size with the same main cause include River and Plains Society Inc ($425k), Chestnut Hill Community Association Pa Inc ($425k) and Junior League of Midland Inc ($425k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 98% of the total. Other salaries and wages came to $202k. At year end it held assets of $762k against liabilities of $477k, net assets of $285k. It reported 6 employees.