Pearl Transit
- Assets
- $14.6m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 68
- Location
- Marlton, NJ
- Founding
- 06/2005
- Data as of
- 12/2022
- EIN
- 20-2022387
Organization Overview
Pearl Transit is located in Marlton, NJ. The organization was established in 2005. According to its NTEE Classification (J02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Employment and related organizations. As of 12/2022, Pearl Transit employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pearl Transit is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Pearl Transit generated $6.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 7.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PEARL TRANSIT CORP. WORKS TO END HOMELESSNESS AND HELP ALL PEOPLE TO ACHIEVE SELF-SUFFICIENCY BY PROVIDING STREET OUTREACH FOR UNSHELTERED HOMELESS PERSONS AND FARE FREE COMMUNITY TRANSPORTATION FOR LOW INCOME PEOPLE PEOPLE WITH DISABILITIES AND PEOPLE AT RISK OF OR EXPERIENCING HOMELESSNESS. PEARL TRANSIT ALSO FOCUSES ON ENDING HUNGER FOR LOW INCOME FAMILIES BY PROVIDING FREE NON-PERISHABLE FOOD DELIVERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORE THAN 6,900 FARE FREE RIDES TO COMMUNITY SUPPORT LOCATIONS EMPLOYMENT TRAINING CHILD CARE AND MORE PROVIDED TO LOW INCOME RESIDENTS OF 9 STATES. MORE THAN 240,000 NONPERISHABLE FOOD BOXES DELIVERED TO FOOD INSECURE FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alicia Woodson Treasurer | OfficerTrustee | 1 | $0 |
Tyron Morris Director | Trustee | 1 | $0 |
Nicholas Glatz Director | Trustee | 1 | $0 |
Lester Payton Chairman | OfficerTrustee | 1 | $0 |
Robert Pacheco Director | Officer | 1 | $0 |
Sally Washington Vice Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $24,925 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,841,922 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,547,522 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,414,369 |
| Total Program Service Revenue | $0 |
| Investment income | $926,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,340,468 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $260,945 |
| Advertising and promotion | $50,248 |
| Office expenses | $26,922 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $99,820 |
| Travel | $24,369 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,922 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $110,928 |
| All other expenses | $96,322 |
| Total functional expenses | $2,877,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,670,902 |
| Savings and temporary cash investments | $3,788,104 |
| Pledges and grants receivable | $3,203,920 |
| Accounts receivable, net | $2,999,915 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,892,900 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,555,741 |
| Accounts payable and accrued expenses | $219,320 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $186,210 |
| Other liabilities | $0 |
| Total liabilities | $405,530 |
| Net assets without donor restrictions | $9,027,367 |
| Net assets with donor restrictions | $5,122,844 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,555,741 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pearl Transit Marlton, NJ | $14,555,741 | $6,340,468 |
Sheet Metal Workers Labor Management Committee And Trust Brewster, NY | $2,400,391 | $1,374,290 |
Communication Workers Of America New York, NY | $160,762 | $409,772 |
Covation Center Inc Trout Run, PA | $16,009 | $348,490 |
Brothers Building A Better Nation Newark, NJ | $22,231 | $0 |
Laborers Local 754 Labor-Management Committee Chestnut Ridge, NY | $42,588 | $0 |
Nawbo Philadelphia Center For Advancing Entrepreneurs Fort Washington, PA | $0 | $0 |