United Way of Monmouth and Ocean Counties Inc

Analysis

United Way of Monmouth and Ocean Counties Inc is a registered charity in United States, based in Eatontown, NJ. It received its IRS tax-exemption ruling in July 1967, 59 years ago. 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 June 2023, United Way of Monmouth and Ocean Counties Inc reported income of $2.0m and spending of $2.1m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.4m to $2.0m (-17%), an average of -4.7% a year. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United Way of Monmouth and Ocean Counties Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within NJ. Charities of a similar size with the same main cause include Hearthside Inc ($2.0m), Discovery Counseling Center of the San Ramon Valley Inc ($2.0m) and Center for Community Advocacy ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $183k (8.8% of expenses). Other salaries and wages came to $383k. At year end it held assets of $1.9m against liabilities of $827k, net assets of $1.1m. It reported 7 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.