Jif Loan Society Inc

Analysis

Jif Loan Society Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 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 (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, Jif Loan Society Inc reported income of $160k and spending of $306k, spending 191% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $3.7m to $160k (-96%), an average of -46% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 113% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Jif Loan Society Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include Torah & Chesed Fund ($160k), St William Council of Catholic Women ($160k) and Jack Brooks Foundation ($160k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $99k against liabilities of $0, net assets of $99k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.