Buddies of New Jersey Inc

Analysis

Buddies of New Jersey Inc is a registered charity in United States, based in Hackensack, NJ. It received its IRS tax-exemption ruling in February 1993, 33 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, Buddies of New Jersey Inc reported income of $5.6m and spending of $5.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $5.6m (+60%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Buddies of New Jersey Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Palliative Home Care of Niagara Inc ($5.6m), Family Paths Inc ($5.6m) and Bee Busy Wellness Center ($5.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $123k (2.2% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.4m against liabilities of $646k, net assets of $792k. It reported 33 employees.