55 Kip Center

Analysis

55 Kip Center is a registered charity in United States, based in Rutherford, NJ. It received its IRS tax-exemption ruling in November 1990, 36 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, 55 Kip Center reported income of $376k and spending of $469k, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $401k to $376k (-6.2%), an average of -1.6% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, 55 Kip Center sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 71st percentile within NJ. Charities of a similar size with the same main cause include Better Health Better Life Inc ($376k), Charlie Center ($376k) and Food for Life Global - Americas Inc ($376k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $89k (19% of expenses). Other salaries and wages came to $116k. At year end it held assets of $647k against liabilities of $24k, net assets of $623k. It reported 12 employees.