New Jersey Sea Grant Consortium

Analysis

New Jersey Sea Grant Consortium is a registered charity in United States, based in Fort Hancock, NJ. It received its IRS tax-exemption ruling in June 1969, 57 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 September 2023, New Jersey Sea Grant Consortium reported income of $2.5m and spending of $2.5m, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.5m to $2.5m (+0.3%), an average of +0.1% a year. The sharpest change came in the year to September 2022, when income rose by 39%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Jersey Sea Grant Consortium sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include Clark Fork Manor Inc ($2.5m), Fellowship of Companies for Christ International Inc ($2.5m) and Youth for Christ USA Inc ($2.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 92% and program service revenue 6.9% of the total. Compensation of current officers, directors and key employees was $321k (13% of expenses). Other salaries and wages came to $547k. At year end it held assets of $2.2m against liabilities of $835k, net assets of $1.4m. It reported 45 employees.