Westfield Foundation

Analysis

Westfield Foundation is a registered charity in United States, based in Westfield, NJ. It received its IRS tax-exemption ruling in July 1977, 49 years ago. 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, Westfield Foundation reported income of $941k and spending of $1.3m, spending 139% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.7m to $941k (-43%), an average of -13% a year. The sharpest change came in the year to December 2022, when income dropped by 46%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Westfield Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within NJ. Charities of a similar size with the same main cause include Eli Whitney Volunteer Fire Department Inc ($941k), East Iowa Bible Conference ($941k) and Bellingham Childcare & Learning Center ($941k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% of the total. Compensation of current officers, directors and key employees was $75k (5.7% of expenses). At year end it held assets of $28.3m against liabilities of $6.2m, net assets of $22.2m. It reported 2 employees.