GMC Foundation Inc

Analysis

GMC Foundation Inc is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in August 1998, 28 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, GMC Foundation Inc reported income of $351k and spending of $144k, leaving 59% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $254k to $351k (+38%), an average of +8.4% a year. The sharpest change came in the year to December 2020, when income rose by 319%. Over the whole period it spent 25% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, GMC Foundation Inc sits at the 78th percentile: it is larger than about 78% 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 Cazadero Baptist Encampment ($351k), Small Church USA Corp ($351k) and Ner Avraham ($350k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $2.3m against liabilities of $0, net assets of $2.3m. It reported 2 employees.