Kean University Foundation Inc

Analysis

Kean University Foundation Inc is a registered charity in United States, based in Union, NJ. It received its IRS tax-exemption ruling in November 1988, 38 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Kean University Foundation Inc reported income of $10.1m and spending of $8.4m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $10.6m to $10.1m (-5.3%), an average of -1.4% a year. The sharpest change came in the year to June 2020, when income rose by 275%. Over the whole period it spent 30% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kean University Foundation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NJ. Charities of a similar size with the same main cause include Lake View Charter School ($10.1m), Seattle Colleges Foundation ($10.1m) and Leadership Education Foundation ($10.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $800k (9.5% of expenses). Other salaries and wages came to $476k. At year end it held assets of $102.5m against liabilities of $1.6m, net assets of $100.9m. It reported 8 employees.