New Jersey Chamber of Commerce Foundation

Analysis

New Jersey Chamber of Commerce Foundation is a registered charity in United States, based in Trenton, NJ. It received its IRS tax-exemption ruling in August 1997, 29 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Jersey Chamber of Commerce Foundation reported income of $1.0m and spending of $716k, leaving 29% of income unspent that year. Across the 5 years on record, from September 2019 to June 2023, income grew from $420k to $1.0m (+141%), an average of +25% a year. The sharpest change came in the year to June 2023, when income rose by 166%. Over the whole period it spent 102% 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 Chamber of Commerce Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within NJ. Charities of a similar size with the same main cause include Abc Craftmasters Training TR ($1.0m), Project 412 ($1.0m) and Chautauqua County Rural Ministries Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $416k (58% of expenses). It paid $67k in professional fundraising fees. At year end it held assets of $716k against liabilities of $230k, net assets of $486k.