New Jersey Community Development Corporation Inc

Analysis

New Jersey Community Development Corporation Inc is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, New Jersey Community Development Corporation Inc reported income of $14.6m and spending of $11.0m, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.1m to $14.6m (+32%), an average of +7.1% a year. The sharpest change came in the year to June 2023, when income rose by 38%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Jersey Community Development Corporation Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include 34th Street Partnership Inc ($14.5m), El Paso Community Action Program Project Bravo Inc ($14.7m) and Jobworks Inc ($14.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $453k (4.1% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $46.3m against liabilities of $17.4m, net assets of $28.9m. It reported 188 employees.