Montclair Center Corporation

Analysis

Montclair Center Corporation is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in July 2004, 22 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, Montclair Center Corporation reported income of $1.2m and spending of $1.2m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $661k to $1.2m (+88%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 142%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Montclair Center Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within NJ. Charities of a similar size with the same main cause include Executive Service Corps of Chicago ($1.2m), Ibew Local 351 Jatc Fund ($1.2m) and Lower Pioneer Valley Educational Corporation ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $115k (9.4% of expenses). Other salaries and wages came to $248k. At year end it held assets of $1.1m against liabilities of $263k, net assets of $804k. It reported 7 employees.