Paterson Restoration Corporation

Analysis

Paterson Restoration Corporation is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in February 1978, 48 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 May 2023, Paterson Restoration Corporation reported income of $166k and spending of $125k, leaving 24% of income unspent that year. Across the 5 years on record, from May 2019 to May 2023, income fell from $721k to $166k (-77%), an average of -31% a year. The sharpest change came in the year to May 2022, when income dropped by 79%. Over the whole period it spent 69% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Paterson Restoration Corporation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 57th percentile within NJ. Charities of a similar size with the same main cause include Kirkwood Neighbors Organization Inc ($166k), Cause for Paws of NC Inc ($166k) and Junior League of Wyandotte and Johnson Counties in Kansas Inc ($166k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 46% and program service revenue 5.2% of the total. At year end it held assets of $19.9m against liabilities of $660k, net assets of $19.2m.