New Jersey Center for Visual Arts a New Jersey Nonprofit Corporation

Analysis

New Jersey Center for Visual Arts a New Jersey Nonprofit Corporation is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in April 1962, 64 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Jersey Center for Visual Arts a New Jersey Nonprofit Corporation reported income of $3.9m and spending of $2.7m, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.9m (+65%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Jersey Center for Visual Arts a New Jersey Nonprofit Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NJ. Charities of a similar size with the same main cause include Young Mens Christian Asso of Fayetteville NC Inc ($3.9m), Mission Convalescent Home ($3.9m) and Kingman Area Food Bank ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $212k (7.8% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $12.0m against liabilities of $2.0m, net assets of $10.0m. It reported 150 employees.