Park Avenue Foundation Inc

Analysis

Park Avenue Foundation Inc is a registered charity in United States, based in Florham Park, NJ. It received its IRS tax-exemption ruling in December 1993, 33 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Park Avenue Foundation Inc reported income of $490k and spending of $702k, spending 143% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $696k to $490k (-30%), an average of -8.4% a year. The sharpest change came in the year to December 2020, when income dropped by 48%. Over the whole period it spent 158% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Park Avenue Foundation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within NJ. Charities of a similar size with the same main cause include Atchison Terrace Inc ($489k), Northville Community Foundation Inc ($490k) and Ventura County Community Foundation Complex Asset Supporting Org ($489k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% of the total. At year end it held assets of $13.9m against liabilities of $4.7m, net assets of $9.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.