Newark Alliance Inc

Analysis

Newark Alliance Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in June 2000, 26 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 December 2023, Newark Alliance Inc reported income of $4.7m and spending of $4.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $4.7m (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2022, when income rose by 70%. Over the whole period it spent 81% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Newark Alliance Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include Film Forever Northwest ($4.7m), The Legacy Foundation at Shell Point Inc ($4.7m) and United Way of Volusia-Flagler Counties Inc ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $851k (20% of expenses). Other salaries and wages came to $560k. At year end it held assets of $6.1m against liabilities of $1.7m, net assets of $4.3m. It reported 13 employees.