New Jersey State Museum Foundation

Analysis

New Jersey State Museum Foundation is a registered charity in United States, based in Trenton, NJ. It received its IRS tax-exemption ruling in February 1968, 58 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Jersey State Museum Foundation reported income of $270k and spending of $238k, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $127k to $270k (+113%), an average of +21% a year. The sharpest change came in the year to June 2023, when income rose by 600%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Jersey State Museum Foundation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 66th percentile within NJ. Charities of a similar size with the same main cause include Santa Clarita Ballet Company Inc ($270k), Chicago Korean Dance Company NFP ($270k) and Malibu Gives ($270k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $55k (23% of expenses). Other salaries and wages came to $80k. At year end it held assets of $1.4m against liabilities of $107k, net assets of $1.2m. It reported 6 employees.