Teamsters Local 701 Scholarship Fund

Analysis

Teamsters Local 701 Scholarship Fund is a registered charity in United States, based in North Brunswick, NJ. It received its IRS tax-exemption ruling in July 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Teamsters Local 701 Scholarship Fund reported income of $69k and spending of $9,460, leaving 86% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $51k to $69k (+35%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 19% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Teamsters Local 701 Scholarship Fund sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 35th percentile within NJ. Charities of a similar size with the same main cause include Jamaica College Old Boys Association of Florida Inc ($69k), Jamaica Elementary Ptso ($69k) and Towson High School Sports Boosters Club Inc ($69k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% of the total. At year end it held assets of $671k against liabilities of $0, net assets of $671k.