Spring Lake Memorial Community House

Analysis

Spring Lake Memorial Community House is a registered charity in United States, based in Spring Lake, NJ. It received its IRS tax-exemption ruling in February 1967, 59 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 December 2023, Spring Lake Memorial Community House reported income of $1.7m and spending of $1.8m, spending 103% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.4m to $1.7m (+27%), an average of +4.8% a year. The sharpest change came in the year to December 2021, when income rose by 106%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Spring Lake Memorial Community House sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within NJ. Charities of a similar size with the same main cause include Kids Beating Cancer Inc ($1.7m), Kiddie Prep School Inc ($1.7m) and New Jersey Korean American Mutual Aid Association Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $183k (10% of expenses). Other salaries and wages came to $377k. At year end it held assets of $1.8m against liabilities of $114k, net assets of $1.7m. It reported 40 employees.