United Methodist Homes of New Jersey

Analysis

United Methodist Homes of New Jersey is a registered charity in United States, based in Neptune, NJ. It received its IRS tax-exemption ruling in January 1986, 40 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, United Methodist Homes of New Jersey reported income of $42.4m and spending of $48.1m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $38.5m to $42.4m (+10%), an average of +2.4% a year. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, United Methodist Homes of New Jersey sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include United Methodist Retirement Communities Inc ($42.3m), Tufts Medicine Care at Home Inc ($42.4m) and Hawaii Foodbank ($42.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.1m (2.3% of expenses). Other salaries and wages came to $21.3m. At year end it held assets of $66.7m against liabilities of $51.4m, net assets of $15.3m. It reported 1,303 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.