First Montclair Housing Corporation I Inc

Analysis

First Montclair Housing Corporation I Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in October 1980, 46 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, First Montclair Housing Corporation I Inc reported income of $2.8m and spending of $2.4m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $2.8m (+8.4%), an average of +2.0% a year. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, First Montclair Housing Corporation I Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Urban Communities Preservation Housing Corp ($2.8m), Affordable Housing Management Inc ($2.8m) and Chinese-American Golden Age Association ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $614k. At year end it held assets of $8.2m against liabilities of $3.4m, net assets of $4.8m.