Passaic Hebrew Institute

Analysis

Passaic Hebrew Institute is a registered charity in United States, based in Passaic, NJ. It received its IRS tax-exemption ruling in October 1943, 83 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Passaic Hebrew Institute reported income of $10.6m and spending of $10.5m, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $8.0m to $10.6m (+32%), an average of +7.2% a year. The sharpest change came in the year to August 2020, when income rose by 19%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Passaic Hebrew Institute sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NJ. Charities of a similar size with the same main cause include America Achieves Inc ($10.6m), Navajo Preparatory School Inc ($10.6m) and Forte Preparatory Academy Charter School ($10.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 18% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $760k (7.2% of expenses). Other salaries and wages came to $6.5m. At year end it held assets of $12.0m against liabilities of $9.1m, net assets of $2.9m. It reported 230 employees.