United Way of Passaic County

Analysis

United Way of Passaic County is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in March 1966, 60 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 December 2023, United Way of Passaic County reported income of $493k and spending of $659k, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $755k to $493k (-35%), an average of -10% a year. The sharpest change came in the year to December 2020, when income rose by 86%. Over the whole period it spent 114% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Passaic County sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within NJ. Charities of a similar size with the same main cause include Asset Stewardship Foundation ($492k), Nhat Tam Charity ($494k) and United Way of Danville Pittsylvania County ($492k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% of the total. Compensation of current officers, directors and key employees was $120k (18% of expenses). Other salaries and wages came to $137k. At year end it held assets of $1.3m against liabilities of $128k, net assets of $1.2m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.