Arc Foundation of Somerset County Inc

Analysis

Arc Foundation of Somerset County Inc is a registered charity in United States, based in Manville, NJ. It received its IRS tax-exemption ruling in September 2003, 23 years ago. 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 2023, Arc Foundation of Somerset County Inc reported income of $350k and spending of $2.2m, spending 618% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $703k to $350k (-50%), an average of -16% a year. The sharpest change came in the year to June 2023, when income dropped by 39%. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Arc Foundation of Somerset County Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 70th percentile within NJ. Charities of a similar size with the same main cause include Mountain View Mennonite School ($350k), Assembly of God Apple Tree Church ($350k) and Catawba Regional Development Corporation ($350k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $42k. At year end it held assets of $996k against liabilities of $454k, net assets of $542k.