City Parks Foundation Inc

Analysis

City Parks Foundation Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in January 2023, 3 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, City Parks Foundation Inc reported income of $713k and spending of $2.0m, spending 283% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $2.2m to $713k (-68%), an average of -68% a year. The sharpest change came in the year to December 2023, when income dropped by 68%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, City Parks Foundation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within NJ. Charities of a similar size with the same main cause include East Grand Rapids Team Boosters ($713k), Middlesex Canal Association Inc ($713k) and Peninsula Symphony of Northern California Association ($713k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 3.6% of the total. Compensation of current officers, directors and key employees was $152k (7.5% of expenses). Other salaries and wages came to $73k. At year end it held assets of $1.1m against liabilities of $108k, net assets of $1.0m. It reported 3 employees.