New Jersey Manufacturing Extension Program Inc

Analysis

New Jersey Manufacturing Extension Program Inc is a registered charity in United States, based in Cedar Knolls, NJ. It received its IRS tax-exemption ruling in November 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 (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, New Jersey Manufacturing Extension Program Inc reported income of $10.2m and spending of $10.1m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.7m to $10.2m (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 99% 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 Manufacturing Extension Program Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NJ. Charities of a similar size with the same main cause include Workforce Development Corporation Southeast Los Angeles County Inc ($10.2m), Integrated Resources Institute ($10.2m) and Arriba Juntos ($10.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $627k (6.2% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $4.4m against liabilities of $2.2m, net assets of $2.1m. It reported 57 employees.