Greater Newark Holiday Fund Inc

Analysis

Greater Newark Holiday Fund Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in January 1973, 53 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 August 2023, Greater Newark Holiday Fund Inc reported income of $259k and spending of $259k, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $310k to $259k (-16%), an average of -4.4% a year. The sharpest change came in the year to August 2022, when income dropped by 16%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Greater Newark Holiday Fund Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 65th percentile within NJ. Charities of a similar size with the same main cause include Louisiana Association of the Deaf ($259k), Posey County Thrift Shop Inc ($259k) and Chinese Economists Society Inc ($259k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $74k against liabilities of $0, net assets of $74k.