Columbian Towers Development Co of Hoboken N J

Analysis

Columbian Towers Development Co of Hoboken N J is a registered charity in United States, based in Weehawken, NJ. It received its IRS tax-exemption ruling in October 1982, 44 years ago. 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 December 2023, Columbian Towers Development Co of Hoboken N J reported income of $111k and spending of $461k, spending 415% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $127k to $111k (-13%), an average of -3.4% a year. The sharpest change came in the year to December 2021, when income rose by 78%. Over the whole period it spent 333% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Columbian Towers Development Co of Hoboken N J sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 48th percentile within NJ. Charities of a similar size with the same main cause include Love in the Name of Christ of Bellingham Whatcom County ($111k), Bartlesville Art Association ($111k) and United States Bowling Congress Inc ($111k).

Compensation of current officers, directors and key employees was $68k (15% of expenses). Other salaries and wages came to $52k. At year end it held assets of $4.4m against liabilities of $69k, net assets of $4.4m. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.