Provident Charities INC EIN 22-3302238 Form 990 (PDF) Claim this org

Provident Charities INC

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Raises money through golf events to support other charities and provide scholarships. For fiscal year 2024 it reported $340K in revenue, $342K in expenses, and $23K in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Iselin, NJ
Website
theprovidentbankfoundation.org
Filings
5 on file (2020–2024)
Revenue
$340KFY2024
Expenses
$342K
Net assets
$23K
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  22-3302238 Public foundation / grantmaker Iselin, NJ
Form 990 (PDF)
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Size
$100K–1M
What they do
Raises money through golf events to support other charities and provide scholarships.
Leadership
Ronald Schwarz · President (thru 09/24)
Money in and out
$340K revenue, $342K expenses
Bottom line
100% program efficiency
Grants paid & assets · FY2024
Total revenue
$340K
Pt VIII · Ln 12
Total expenses
$342K
Pt IX · Ln 25
Net assets
$23K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$2K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs<0.01% vs prior filing year
Operating runway
6.9mo
months of highly liquid reserves at operating expense rate▼ -21% vs prior filing year
Surplus margin
-0.7%
revenue over expenses, this year▼ -131% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$340K
FY2024▼ -16%
Expenses
$342K
FY2024▼ -14%
Total assets
$196K
FY2024▼ -32%
Total liabilities
$173K
FY2024▼ -34%
Total revenue
$340K
Pt VIII · Ln 12
Total expenses
$342K
Pt IX · Ln 25
Net assets
$23K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$2K
Total assetsPt X · Ln 16$196K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

1 program service account for $342K of program spending, described in the organization's own filed words · FY2024.
01

Provident charities inc. Primarily conducts two charity golf outings - one to donate proceeds to other 501(c)(3) organizations, and the other to grant scholarships to deserving low to moderate income individuals.

$342Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProvident Charities INC
EINHdr · item D22-3302238
Principal addressHdr · item CIselin, NJ
WebsiteHdr · item Jtheprovidentbankfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNJ
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T12)
Ruling yearIRS BMFOct 1994

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President (thru 09/24)
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer (start 10/24)
$0Pt VII · Sec A
President (start 10/24)
$0Pt VII · Sec A
SVP and Treasurer (thru 12/24)
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Vice President (start 10/24)
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants103%$348K
Investment income$43
Total revenueLn 12$340K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$342K
Total functional expensesLn 25$342K

Balance Sheet

Part X · end of year
CashLn 1$196K
Total assetsLn 16$196K
Total liabilitiesLn 26$173K
Total net assetsLn 32$23K
Months of cash on handcomputed6.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $196K · Operating expenses/yr $342K
6.9 months
Where the money goes
Program services
Program services $342K · Total expenses $342K
100%
Management & General
Management & general $0 · Total expenses $342K
0%
Fundraising
Fundraising $0 · Total expenses $342K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $384K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $348K · Total revenue $340K
103%
Government reliance
Government grants — · Total revenue $340K
Earned-income share
Program service revenue $0 · Total revenue $340K
0%
Investment reliance
Investment income $43 · Total revenue $340K
+0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $342K
0%
Growth & trend
Revenue growth (YoY)
This year $340K · Prior year $406K
-16%
Revenue CAGR
FY2020 $278K · FY2024 $340K
+5%
Net-asset trend (YoY)
End of year $23K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $340K · Expenses $342K
-0.7%
Liabilities-to-Assets
Total liabilities — · Total assets $196K
Net-asset ratio
Net assets $23K · Total assets $196K
12%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $196K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ronald Schwarz · Reported title PRESIDENT (THRU 09/24) · Highest reported compensation $0 · Total expenses $342K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $342K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth -16%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$2K
Grants paid · 42 grants · $1.3M · 2020–2024
Scarc Foundation INCNJ · FY2024$25,000
Camp Nejeda Foundation INCNJ · FY2024$8,500
Pass IT Along INCNJ · FY2024$7,500
Father Johns Animal HouseNJ · FY2024$7,000
Samaritan InnNJ · FY2024$5,600
Unitemized GrantFY2023$206,000
Scarc FoundationNJ · FY2023$24,500
Pass IT Along INCNJ · FY2023$13,800
Father Johns Animal HouseNJ · FY2023$11,383
Sussex County YMCANJ · FY2023$11,100
Camp Nejeda Foundation INCNJ · FY2023$10,000
Samaritan InnNJ · FY2023$8,200
See all 42 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$340K revenue · viewing · ⤓ 990 PDF
FY2023$406K revenue · ⤓ 990 PDF
FY2022$382K revenue · ⤓ 990 PDF
FY2021$342K revenue · ⤓ 990 PDF
FY2020$278K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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