Gilmore Memorial Preschool Inc

Analysis

Gilmore Memorial Preschool Inc is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Gilmore Memorial Preschool Inc reported income of $5.9m and spending of $5.7m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $5.9m (+121%), an average of +22% a year. The sharpest change came in the year to December 2020, when income rose by 45%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gilmore Memorial Preschool Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Wounded Warriors Family Support Inc ($5.9m), Youth Emergency Services Inc ($5.9m) and Association for Guidance Aid Placement & Empathy ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $125k (2.2% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $313k against liabilities of $514k, net assets of -$201k. It reported 65 employees.