Totowa Education Foundation Inc

Analysis

Totowa Education Foundation Inc is a registered charity in United States, based in Totowa, NJ. It received its IRS tax-exemption ruling in April 1992, 34 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 (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, Totowa Education Foundation Inc reported income of $326k and spending of $207k, leaving 36% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $318k to $326k (+2.4%), an average of +0.6% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 88% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Totowa Education Foundation Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 69th percentile within NJ. Charities of a similar size with the same main cause include Roots of Empathy USA ($325k), New Jersey Memorial Home Welfare Fund ($326k) and Backpacks for Life Inc ($325k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $132k. At year end it held assets of $285k against liabilities of $9,121, net assets of $276k.