The Gem Project Inc

Analysis

The Gem Project Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, The Gem Project Inc reported income of $115k and spending of $155k, spending 134% of what it took in. Across the 3 years on record, from June 2020 to June 2022, income grew from $44k to $115k (+165%), an average of +63% a year. The sharpest change came in the year to June 2021, when income rose by 196%. Over the whole period it spent 104% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, The Gem Project Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 48th percentile within NJ. Charities of a similar size with the same main cause include Eso Terra Foundation ($115k), University of Wyoming ($115k) and Heart of Saginaw ($115k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $37k (24% of expenses). At year end it held assets of -$13k against liabilities of $0, net assets of -$13k.