Carteret Business Partnership Inc

Analysis

Carteret Business Partnership Inc is a registered charity in United States, based in Carteret, NJ. It received its IRS tax-exemption ruling in August 2008, 18 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic 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 December 2023, Carteret Business Partnership Inc reported income of $9.9m and spending of $8.3m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $23.9m to $9.9m (-58%), an average of -20% a year. The sharpest change came in the year to December 2023, when income rose by 69%. Over the whole period it spent 33% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carteret Business Partnership Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NJ. Charities of a similar size with the same main cause include Community Coalition for Substance Abuse Prevention & Treatment ($9.9m), Great FLS Development Authority Inc ($9.9m) and South Carolina Manufacturing Extension Partnership ($9.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 28% of the total. At year end it held assets of $64.4m against liabilities of $2.3m, net assets of $62.2m. It reported 35 employees.