Monarch Housing Associates Inc

Analysis

Monarch Housing Associates Inc is a registered charity in United States, based in Cranford, NJ. It received its IRS tax-exemption ruling in June 1991, 35 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Monarch Housing Associates Inc reported income of $2.9m and spending of $2.0m, leaving 33% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $996k to $2.9m (+191%), an average of +43% a year. The sharpest change came in the year to December 2023, when income rose by 89%. Over the whole period it spent 79% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Monarch Housing Associates Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Assisi Homes-Jefferson Court Inc ($2.9m), Community Home Trust ($2.9m) and Brighter Tomorrows Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 41% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $260k (13% of expenses). Other salaries and wages came to $774k. At year end it held assets of $2.5m against liabilities of $658k, net assets of $1.9m. It reported 19 employees.