Transcom Inc

Analysis

Transcom Inc is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in January 2000, 26 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, Transcom Inc reported income of $12.6m and spending of $12.2m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $12.8m to $12.6m (-1.8%), an average of -0.4% a year. The sharpest change came in the year to December 2021, when income dropped by 20%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Transcom Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include Dorchester Bay Economic Development Corporation ($12.6m), Northern Maine Development Commission Inc ($12.6m) and Haywood Vocational Opportunities Inc ($12.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $486k (4.0% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $14.3m against liabilities of $6.2m, net assets of $8.0m. It reported 23 employees.