The Center at 353 Inc

Analysis

The Center at 353 Inc is a registered charity in United States, based in Princeton, NJ. It received its IRS tax-exemption ruling in October 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, The Center at 353 Inc reported income of $1.5m and spending of $1.9m, spending 125% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $3.5m to $1.5m (-56%), an average of -24% a year. The sharpest change came in the year to June 2021, when income dropped by 56%. Over the whole period it spent 81% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Center at 353 Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within NJ. Charities of a similar size with the same main cause include Grow Brooklyn Inc ($1.5m), JCCF Inc ($1.5m) and Unlimited Potential Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $169k (8.9% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $9.7m against liabilities of $162k, net assets of $9.5m. It reported 29 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.