Newton Medical Center Foundation

Analysis

Newton Medical Center Foundation is a registered charity in United States, based in Newton, NJ. It received its IRS tax-exemption ruling in September 1985, 41 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 December 2023, Newton Medical Center Foundation reported income of $2.2m and spending of $861k, leaving 61% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.2m to $2.2m (-1.5%), an average of -0.4% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 56% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newton Medical Center Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include American Society for the Protection of Nature Israel Inc ($2.2m), Minquadale Fire Co Inc ($2.2m) and National Veterans Foundation Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% of the total. Other salaries and wages came to $252k. At year end it held assets of $36.0m against liabilities of $355k, net assets of $35.7m.