Margate Business Association Inc

Analysis

Margate Business Association Inc is a registered charity in United States, based in Margate City, NJ. It received its IRS tax-exemption ruling in August 1998, 28 years ago. Its declared purposes cover employment, 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, Margate Business Association Inc reported income of $318k and spending of $325k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $277k to $318k (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 78%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Margate Business Association Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 69th percentile within NJ. Charities of a similar size with the same main cause include Cleveland Culinary Launch Inc ($318k), Junior League of Sarasota Inc ($319k) and Attleboro Area School to Career Partnership Inc ($318k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $75k (23% of expenses). Other salaries and wages came to $12k. At year end it held assets of $163k against liabilities of $0, net assets of $163k. It reported 3 employees.