Jazz Foundation of America Inc

Analysis

Jazz Foundation of America Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1992, 34 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, Jazz Foundation of America Inc reported income of $966k and spending of $3.7m, spending 384% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.8m to $966k (-45%), an average of -14% a year. The sharpest change came in the year to June 2020, when income rose by 1272%. Over the whole period it spent 50% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Jazz Foundation of America Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Jewish Federation of Somerset County ($965k), Education Foundation of Martin County Inc ($967k) and Beaver Dam Scholarship Foundation I ($965k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 282% of the total. Compensation of current officers, directors and key employees was $503k (14% of expenses). Other salaries and wages came to $704k. At year end it held assets of $35.3m against liabilities of $382k, net assets of $34.9m. It reported 16 employees.