Newark Partnership Inc

Analysis

Newark Partnership Inc is a registered charity in United States, based in Newark, DE. It received its IRS tax-exemption ruling in August 2019, 7 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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 June 2024, Newark Partnership Inc reported income of $186k and spending of $209k, spending 112% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $283k to $186k (-34%), an average of -34% a year. The sharpest change came in the year to June 2024, when income dropped by 34%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newark Partnership 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 52nd percentile, and in the 47th percentile within DE. Charities of a similar size with the same main cause include Corning Institute for Education and Research ($186k), Nextgen Chamber of Commerce Foundation ($186k) and Cresswind LL Community Fund Inc ($186k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 97% of the total. At year end it held assets of $199k against liabilities of $2,619, net assets of $196k.