Sons of Italy New Jersey Foundation Inc

Analysis

Sons of Italy New Jersey Foundation Inc is a registered charity in United States, based in Cherry Hill, NJ. It received its IRS tax-exemption ruling in October 1991, 35 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Sons of Italy New Jersey Foundation Inc reported income of $84k and spending of $98k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $23k to $84k (+261%), an average of +260% a year. The sharpest change came in the year to December 2023, when income rose by 261%. Over the whole period it spent 125% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Sons of Italy New Jersey Foundation Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 40th percentile within NJ. Charities of a similar size with the same main cause include The United Way of Schuyler County Inc ($84k), Municipal Treasurers Association of Wisconsin Inc ($85k) and Strong Roots Charitable Foundation ($84k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 33% of the total. At year end it held assets of $350k against liabilities of $0, net assets of $350k.