Essex Properties Urban Renewal Associates Inc

Analysis

Essex Properties Urban Renewal Associates Inc is a registered charity in United States, based in East Hanover, 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 June 2023, Essex Properties Urban Renewal Associates Inc reported income of $945k and spending of $808k, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $745k to $945k (+27%), an average of +6.1% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 108% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Essex Properties Urban Renewal Associates Inc sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within NJ. Charities of a similar size with the same main cause include Jamaica Plain Non-Profit Housing Corporation ($945k), Nonprofit Housing Preservation Ra Inc ($946k) and Csa San Diego County ($945k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 85% of the total. Other salaries and wages came to $179k. At year end it held assets of $1.4m against liabilities of $99k, net assets of $1.3m.