Jon Bon Jovi Soul Foundation

Analysis

Jon Bon Jovi Soul Foundation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 2007, 19 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 December 2023, Jon Bon Jovi Soul Foundation reported income of $1.7m and spending of $1.7m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.7m (+53%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 126% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Jon Bon Jovi Soul Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within PA. Charities of a similar size with the same main cause include National Christian Charitable Foundation Inc ($1.7m), Mifal Tzedaka Vchesed Chasdei Aharon ($1.7m) and Johns Island Foundation Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $101k (5.8% of expenses). Other salaries and wages came to $682k. At year end it held assets of $2.9m against liabilities of $110k, net assets of $2.8m. It reported 16 employees.