Bustany Family Foundation Inc

Analysis

Bustany Family Foundation Inc is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Bustany Family Foundation Inc reported income of $146k and spending of $94k, leaving 36% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income fell from $323k to $146k (-55%), an average of -23% a year. The sharpest change came in the year to December 2023, when income rose by 18765%. Over the whole period it spent 42% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Bustany Family Foundation Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 54th percentile within NJ. Charities of a similar size with the same main cause include Sacramento Venture Philanthropy ($146k), Asociacion Latino Americana Del Sur de Indiana Inc ($146k) and Mary Adeline Gardner Scholarship Fund ($146k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% of the total. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m.