Aberdeen Solomon David Memorial Scholarship Fund

Analysis

Aberdeen Solomon David Memorial Scholarship Fund is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in August 1996, 30 years ago. 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, Aberdeen Solomon David Memorial Scholarship Fund reported income of $89k and spending of $105k, spending 119% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $62k to $89k (+43%), an average of +43% a year. The sharpest change came in the year to December 2023, when income rose by 43%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Aberdeen Solomon David Memorial Scholarship Fund sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 41st percentile within NJ. Charities of a similar size with the same main cause include Georgia Extension 4-H Foundation ($89k), Nippenose Valley Volunteer Fire Co ($89k) and Warren County Historical Society ($89k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $72k against liabilities of $0, net assets of $72k.