Parnassah Network Inc

Analysis

Parnassah Network Inc is a registered charity in United States, based in Lakewood, NJ. It received its IRS tax-exemption ruling in December 2021, 5 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Parnassah Network Inc reported income of $237k and spending of $207k, spending 88% of its income. Across the 6 years on record, from December 2017 to December 2023, income grew from $204k to $237k (+16%), an average of +3.1% a year. The sharpest change came in the year to December 2022, when income rose by 171%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Parnassah Network Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 64th percentile within NJ. Charities of a similar size with the same main cause include Nogales Community Development Corporation ($237k), Das Foundation Inc ($237k) and Michigan Association of Centers for Independent Living ($237k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.2% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $18k (8.7% of expenses). At year end it held assets of $897k against liabilities of $689k, net assets of $208k.