Monmouth Cares Inc

Analysis

Monmouth Cares Inc is a registered charity in United States, based in West Long Branch, NJ. It received its IRS tax-exemption ruling in May 2001, 25 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Monmouth Cares Inc reported income of $14.7m and spending of $13.2m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.5m to $14.7m (+95%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Monmouth Cares Inc sits at the 86th percentile: it is larger than about 86% 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 Everymind Inc ($14.6m), Laurens Institute for Education ($14.7m) and Handmaker Jewish Services for the Aging ($14.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $356k (2.7% of expenses). Other salaries and wages came to $7.5m. At year end it held assets of $9.3m against liabilities of $4.5m, net assets of $4.8m. It reported 143 employees.