African American Chamber of Commerce of New Jersey Inc

Analysis

African American Chamber of Commerce of New Jersey Inc is a registered charity in United States, based in Trenton, NJ. It received its IRS tax-exemption ruling in September 2011, 15 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, African American Chamber of Commerce of New Jersey Inc reported income of $5.2m and spending of $4.9m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $5.2m (+230%), an average of +35% a year. The sharpest change came in the year to December 2023, when income rose by 70%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, African American Chamber of Commerce of New Jersey Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include Fund for Our Economic Future of Northeast Ohio ($5.2m), Ignite Presque Isle ($5.2m) and Kingdom Builders Center of Houston Texas Inc ($5.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $330k (6.8% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $3.3m against liabilities of $1.3m, net assets of $2.0m. It reported 12 employees.