Bergens Promise Inc

Analysis

Bergens Promise Inc is a registered charity in United States, based in Hackensack, NJ. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 June 2023, Bergens Promise Inc reported income of $20.7m and spending of $16.0m, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.4m to $20.7m (+99%), an average of +19% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 81% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Bergens Promise Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include New Life Centers of Chicagoland NFP ($20.5m), NYC Kids Rise Inc ($20.8m) and Stand for Children Leadership Center ($20.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.8% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $416k (2.6% of expenses). Other salaries and wages came to $9.2m. At year end it held assets of $22.3m against liabilities of $7.4m, net assets of $14.9m. It reported 210 employees.