Bayonne Economic Opportunity Foundation

Analysis

Bayonne Economic Opportunity Foundation is a registered charity in United States, based in Bayonne, NJ. It received its IRS tax-exemption ruling in October 1966, 60 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 January 2024, Bayonne Economic Opportunity Foundation reported income of $4.7m and spending of $5.3m, spending 112% of what it took in. Across the 5 years on record, from January 2020 to January 2024, income grew from $3.5m to $4.7m (+32%), an average of +7.2% a year. The sharpest change came in the year to January 2023, when income rose by 21%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bayonne Economic Opportunity Foundation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include Rocky Mountain Childrens Health Foundation ($4.7m), Harbor Properties ($4.7m) and Texas Baptist Childrens Home and Family Services Inc ($4.7m).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 96% and program service revenue 4.7% of the total. Compensation of current officers, directors and key employees was $345k (6.6% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $2.5m against liabilities of $1.4m, net assets of $1.1m. It reported 63 employees.