Scotch Plains Fanwood Scholarship Fund

Analysis

Scotch Plains Fanwood Scholarship Fund is a registered charity in United States, based in Fanwood, NJ. It received its IRS tax-exemption ruling in November 1970, 56 years ago. 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 December 2023, Scotch Plains Fanwood Scholarship Fund reported income of $331k and spending of $322k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $176k to $331k (+88%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Scotch Plains Fanwood Scholarship Fund sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 70th percentile within NJ. Charities of a similar size with the same main cause include San Diego Chinese Cultural Assoc ($331k), Glendale Volunteer Fire Department Enginge Company No 1 ($331k) and Omega Nu-Sigma Alpha Chapter ($331k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $1.1m against liabilities of $5,750, net assets of $1.1m.