Renaissance Newark Foundation Inc

Analysis

Renaissance Newark Foundation Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in December 1984, 42 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, Renaissance Newark Foundation Inc reported income of $125k and spending of $150k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $165k to $125k (-24%), an average of -6.8% a year. The sharpest change came in the year to December 2022, when income rose by 90%. Over the whole period it spent 97% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Renaissance Newark Foundation Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 50th percentile within NJ. Charities of a similar size with the same main cause include American State Bank Endowed Scholarship Funds for Nursing ($125k), Caring Foundation Incorporated ($125k) and Kewanee Area United Way ($125k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 0.4% of the total. At year end it held assets of $271k against liabilities of $90k, net assets of $181k.