Montclair Scholarship Fund Inc

Analysis

Montclair Scholarship Fund Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in April 2016, 10 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 August 2023, Montclair Scholarship Fund Inc reported income of $611k and spending of $399k, leaving 35% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $251k to $611k (+143%), an average of +25% a year. The sharpest change came in the year to August 2021, when income rose by 72%. Over the whole period it spent 71% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Montclair Scholarship Fund Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within NJ. Charities of a similar size with the same main cause include Sister Rebecca Berghoff Foundation ($611k), Hadassah S Hope Inc ($612k) and Partnership for Community Development Ltd ($611k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.