Urban Renewal Corp
- Assets
- $3.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 47
- Location
- Newark, NJ
- Founding
- 05/1995
- Data as of
- 12/2022
- EIN
- 22-3288857
Organization Overview
Urban Renewal Corp is located in Newark, NJ. The organization was established in 1995. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2022, Urban Renewal Corp employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Urban Renewal Corp 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, Urban Renewal Corp generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 7 years. 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
TRAINING COUNSELING TRAINING, COUNSELING, EDUCATION, AND TEMPORARY HOUSING FOR WELFARE RECIPIENTS, PRISONER RELEASE PROGRAMS, HOMELESS INDIVIDUALS, AND AIDS VICTIMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMERGENCY HOUSING SERVICES - TO SHELTER THE HOMELESS IN THE NEWARK, NJ AREA AND TO HIV TEST AND COUNSEL ON DRUG ABUSE.
KEARNY COMPUTER TRAINING PROGRAM - COMPUTER JOB TRAINING OF HOMELESS AND DIFFICULT TO EMPLOY INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lance Jacobs CEO | Officer | 40 | $130,000 |
James Byrd Board Member | Trustee | 5 | $0 |
Juanita Talbert Board Member | Trustee | 5 | $0 |
Jeffrey Freireich Board Member | Trustee | 5 | $0 |
Tricia Dolnick Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $354,406 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $354,406 |
| Total Program Service Revenue | $1,476,580 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,750 |
| 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 | $1,837,476 |
| 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 | $1,079,628 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,264 |
| Payroll taxes | $137,634 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,432 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $40,175 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $193,000 |
| Travel | $14,436 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,695 |
| Insurance | $96,426 |
| All other expenses | $0 |
| Total functional expenses | $2,201,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210,442 |
| Savings and temporary cash investments | $501,546 |
| Pledges and grants receivable | $26,332 |
| Accounts receivable, net | $215,160 |
| 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 | $1,677 |
| Net Land, buildings, and equipment | $2,175,170 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,500 |
| Total assets | $3,136,827 |
| Accounts payable and accrued expenses | $108,170 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,615 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $415,694 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $527,479 |
| Net assets without donor restrictions | $2,609,348 |
| Net assets with donor restrictions | $0 |
| 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 | $3,136,827 |