Corporation for New Jersey Local Media

Analysis

Corporation for New Jersey Local Media is a registered charity in United States, based in Whippany, NJ. It received its IRS tax-exemption ruling in March 2021, 5 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 December 2023, Corporation for New Jersey Local Media reported income of $480k and spending of $151k, leaving 69% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $255k to $480k (+88%), an average of +37% a year. The sharpest change came in the year to December 2022, when income rose by 57%. Over the whole period it spent 19% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Corporation for New Jersey Local Media sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within NJ. Charities of a similar size with the same main cause include Gearup2lead Winston Stoody ($480k), Manheim Community Library ($480k) and Montessori Teacher Education Center-San Francisco Bay Area ($480k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $47k (31% of expenses). At year end it held assets of $1.2m against liabilities of $282k, net assets of $919k. It reported 2 employees.