Southmont Foundation Inc

Analysis

Southmont Foundation Inc is a registered charity in United States, based in South Orange, NJ. It received its IRS tax-exemption ruling in November 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Southmont Foundation Inc reported income of $113k and spending of $132k, spending 117% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $305k to $113k (-63%), an average of -28% a year. The sharpest change came in the year to December 2022, when income dropped by 54%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Southmont Foundation Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 48th percentile within NJ. Charities of a similar size with the same main cause include Society of St Vincent de Paul Council of Metuchen NJ Inc ($113k), Guardian Support Services Inc ($113k) and Olive Osmond Hearing Fund ($113k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 9.7% of the total. At year end it held assets of $336k against liabilities of $11k, net assets of $325k.

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.