Research and Development Council of New Jersey Inc

Analysis

Research and Development Council of New Jersey Inc is a registered charity in United States, based in Chatham, NJ. It received its IRS tax-exemption ruling in July 2004, 22 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Research and Development Council of New Jersey Inc reported income of $1.3m and spending of $1.2m, spending 92% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $727k to $1.3m (+80%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 74%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Research and Development Council of New Jersey Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within NJ. Charities of a similar size with the same main cause include McLean Project for the Arts Inc ($1.3m), The Regional Opportunity Center ($1.3m) and Foundation for Creative Broadcasting Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 42% of the total. It paid $181k in professional fundraising fees. At year end it held assets of $665k against liabilities of $0, net assets of $665k.