Manara College a NJ Nonprofit Corporation

Analysis

Manara College a NJ Nonprofit Corporation is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in September 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Manara College a NJ Nonprofit Corporation reported income of $282k and spending of $316k, spending 112% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $150k to $282k (+88%), an average of +13% a year. The sharpest change came in the year to December 2019, when income rose by 674%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Manara College a NJ Nonprofit Corporation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 67th percentile within NJ. Charities of a similar size with the same main cause include I Have a Dream Foundation - New Jersey Inc ($282k), Tlafrica Inc ($282k) and Northern Lights Athletic Scholarship Foundation ($282k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $9,600 (3.0% of expenses). Other salaries and wages came to $149k. At year end it held assets of $891k against liabilities of $165k, net assets of $727k. It reported 18 employees.

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.