Fortnightly Club of Summit New Jersey

Analysis

Fortnightly Club of Summit New Jersey is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in August 1996, 30 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 May 2023, Fortnightly Club of Summit New Jersey reported income of $116k and spending of $117k, spending 101% of its income. Across the 3 years on record, from May 2021 to May 2023, income fell from $455k to $116k (-74%), an average of -50% a year. The sharpest change came in the year to May 2022, when income dropped by 80%. Over the whole period it spent 35% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Fortnightly Club of Summit New Jersey sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 48th percentile within NJ. Charities of a similar size with the same main cause include Broad River Electric Charities Inc ($116k), Feeding Hope and Hunger ($116k) and Beautiful Gate Foundation ($116k).

On its Form 990-EZ for the period ending May 2023, revenue came from contributions and grants 17% and program service revenue 37% of the total. At year end it held assets of $483k against liabilities of $81k, net assets of $402k.