Montclair Foundation Inc

Analysis

Montclair Foundation Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in September 1993, 33 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 June 2023, Montclair Foundation Inc reported income of $1.1m and spending of $1.6m, spending 151% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $1.1m (-15%), an average of -4.0% a year. The sharpest change came in the year to June 2020, when income dropped by 36%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Montclair Foundation Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within NJ. Charities of a similar size with the same main cause include Hope Ignites Cincinnati ($1.1m), People Coordinated Services of Southern California ($1.1m) and Terre Haute Electrical Joint Apprenticeship and Training Trust ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $118k (7.3% of expenses). Other salaries and wages came to $392k. At year end it held assets of $6.8m against liabilities of $845k, net assets of $6.0m. It reported 15 employees.