Newark Housing Authority Scholarship Foundation

Analysis

Newark Housing Authority Scholarship Foundation is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Newark Housing Authority Scholarship Foundation reported income of $112k and spending of $76k, leaving 32% of income unspent that year. Across the 5 years on record, from August 2018 to August 2023, income grew from $107k to $112k (+3.9%), an average of +0.9% a year. The sharpest change came in the year to August 2022, when income rose by 222%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Newark Housing Authority Scholarship Foundation sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 48th percentile within NJ. Charities of a similar size with the same main cause include St Jude Thaddeus School Foundation ($112k), Gordon Lee Band Boosters Association ($112k) and Ocean County Foundation for Vocational and Technical Education ($112k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $90k against liabilities of $54k, net assets of $35k.