Paterson Education Foundation Inc

Analysis

Paterson Education Foundation Inc is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in April 1986, 40 years ago. 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 June 2023, Paterson Education Foundation Inc reported income of $1.1m and spending of $1.1m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $375k to $1.1m (+202%), an average of +32% a year. The sharpest change came in the year to June 2021, when income rose by 78%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Paterson Education Foundation Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within NJ. Charities of a similar size with the same main cause include Regeneration Inc ($1.1m), Van Buren County Special School ($1.1m) and Harpending Housing Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $90k (8.0% of expenses). Other salaries and wages came to $573k. At year end it held assets of $228k against liabilities of $42k, net assets of $186k. It reported 42 employees.