Community Foundation of New Jersey

Analysis

Community Foundation of New Jersey is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in December 1985, 41 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Community Foundation of New Jersey reported income of $145.9m and spending of $82.1m, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $121.9m to $145.9m (+20%), an average of +4.6% a year. The sharpest change came in the year to December 2020, when income rose by 65%. Over the whole period it spent 60% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundation of New Jersey sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Signatry Charitable Trust ($145.4m), University of Cincinnati Foundation ($148.3m) and The Bessemer Giving Fund ($145.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $1.3m (1.6% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $865.1m against liabilities of $37.4m, net assets of $827.7m. It reported 32 employees.