Montclair Local Nonprofit News Inc

Analysis

Montclair Local Nonprofit News Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in October 2019, 7 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2022, Montclair Local Nonprofit News Inc reported income of $775k and spending of $801k, spending 103% of its income. Across the 3 years on record, from December 2020 to December 2022, income grew from $382k to $775k (+103%), an average of +42% a year. The sharpest change came in the year to December 2021, when income rose by 112%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Montclair Local Nonprofit News Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within NJ. Charities of a similar size with the same main cause include Auburn State Theatre Incorporated ($775k), Radio Arts Foundation ($775k) and Maxville Heritage Interpretive Center ($775k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 49% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $46k (5.8% of expenses). Other salaries and wages came to $450k. At year end it held assets of $276k against liabilities of $1,474, net assets of $275k. It reported 17 employees.