Downtown Merchants Corporation

Analysis

Downtown Merchants Corporation is a registered charity in United States, based in Passaic, NJ. It received its IRS tax-exemption ruling in September 1999, 27 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 December 2023, Downtown Merchants Corporation reported income of $440k and spending of $439k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $309k to $440k (+42%), an average of +9.3% a year. The sharpest change came in the year to December 2023, when income rose by 32%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Merchants Corporation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 73rd percentile within NJ. Charities of a similar size with the same main cause include Lynden Community Senior Center ($440k), Koinonia Ventures Inc ($440k) and Baton Rouge Sponsoring Committee ($440k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $362k. At year end it held assets of $180k against liabilities of $140k, net assets of $40k. It reported 29 employees.