Canal Society of New Jersey

Analysis

Canal Society of New Jersey is a registered charity in United States, based in Parsippany, NJ. It received its IRS tax-exemption ruling in January 1975, 51 years ago. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2020, Canal Society of New Jersey reported income of $463k and spending of $81k, leaving 82% of income unspent that year. Across the 2 years on record, from December 2019 to December 2020, income grew from $390k to $463k (+19%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 19%. Over the whole period it spent 19% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Canal Society of New Jersey sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 74th percentile within NJ. Charities of a similar size with the same main cause include Capital University Center Inc ($463k), San Rafael Public Education Foundation ($463k) and Mormon Women for Ethical Government Foundation ($463k).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 8.5% and program service revenue 0.0% of the total. At year end it held assets of $6.4m against liabilities of $0, net assets of $6.4m.