Bayonne Community Foundation Inc

Analysis

Bayonne Community Foundation Inc is a registered charity in United States, based in Bayonne, NJ. It received its IRS tax-exemption ruling in March 1999, 27 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, Bayonne Community Foundation Inc reported income of $55k and spending of $33k, leaving 40% of income unspent that year. Across the 3 years on record, from September 2021 to September 2023, income fell from $363k to $55k (-85%), an average of -61% a year. The sharpest change came in the year to September 2022, when income dropped by 88%. Over the whole period it spent 23% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Bayonne Community Foundation Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 28th percentile within NJ. Charities of a similar size with the same main cause include Westchester-Bakersfield Kiwanis Foundation Inc ($55k), Shawano Area United Way Inc ($55k) and Alden Street Foundation Inc ($55k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 61% of the total. At year end it held assets of $687k against liabilities of $28k, net assets of $659k.