Newark Alliance Inc
- Assets
- $3.7m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 12
- Location
- Newark, NJ
- Founding
- 06/2000
- Data as of
- 12/2021
- EIN
- 22-3664305
Organization Overview
Newark Alliance Inc is located in Newark, NJ. The organization was established in 2000. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Newark Alliance Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newark Alliance Inc 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 12/2021, Newark Alliance Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 15.2% 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.
Since 2015, Newark Alliance Inc has awarded 12 individual grants totaling $726,762. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO WORK IN PARTNERSHIP TO MAKE NEWARK A BETTER, SAFER PLACE TO WORK, LIVE, LEARN, PLAY AND DO BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWARK ALLIANCE IS A LEADING NONPROFIT ORGANIZATION DEDICATED TO THE ONGOING ECONOMIC REVITALIZATION OF NEWARK, STRIVING TO TRANSFORM OUR CITY INTO A BETTER AND SAFER PLACE TO WORK, LIVE, LEARN, PLAY AND DO BUSINESS. SUPPORTED BY CORPORATE AND COMMUNITY PARTNERS, THE ALLIANCE HAS SUCCESSFULLY LEVERAGED NEWARK'S COMPETITIVE ASSETS TO GENERATE ECONOMIC GROWTH FOR THE CITY, STATE, REGION AND BEYOND. THROUGH INNOVATIVE PARTNERSHIPS WITH KEY STAKEHOLDERS, THE ALLIANCE HAS DEVELOPED CREATIVE SOLUTIONS AND SUPPORTED MAJOR CITYWIDE INITIATIVES THAT ARE DELIVERING TRANSFORMATIONAL CHANGE FOR RESIDENTS AND VISITORS ALIKE, FURTHER ADVANCING NEWARK'S RENAISSANCE INTO ONE OF AMERICA'S GREAT CITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Della Walker Jr Director | 40 | $131,874 | |
Kaili Sanderson Director | 40 | $124,476 | |
Sibusisiwe Malaba Director | 40 | $114,419 | |
Ms Lata Reddy Chair - Board Member | OfficerTrustee | 5 | $0 |
Mr Dennis M Bone Board Member | Trustee | 3 | $0 |
Ms Suzanne Spero Board Member | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keystone Consulting Interim Ceo Services | 12/30/21 | $324,000 |
Automated Accounting Solutions Inc Accounting | 12/30/21 | $107,231 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $390,366 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,093,814 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,484,180 |
| Total Program Service Revenue | $8,500 |
| Investment income | $43 |
| 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 | $2,492,723 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $192,143 |
| 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 | $759,745 |
| Pension plan accruals and contributions | $13,490 |
| Other employee benefits | $102,193 |
| Payroll taxes | $76,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,120,294 |
| Advertising and promotion | $33,328 |
| Office expenses | $167,002 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $99,878 |
| Travel | $459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $4,741 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,129 |
| Insurance | $3,471 |
| All other expenses | $41,000 |
| Total functional expenses | $2,649,969 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,319,491 |
| Savings and temporary cash investments | $2,027,589 |
| Pledges and grants receivable | $388,632 |
| Accounts receivable, net | $0 |
| 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 | $2,809 |
| Net Land, buildings, and equipment | $2,278 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,740,799 |
| Accounts payable and accrued expenses | $67,825 |
| Grants payable | $0 |
| Deferred revenue | $611,451 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $679,276 |
| Net assets without donor restrictions | $1,865,674 |
| Net assets with donor restrictions | $1,195,849 |
| 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 | $3,740,799 |
Grants Awarded
Over the last fiscal year, Newark Alliance Inc has awarded $81,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Newark, NJ PURPOSE: program support | $56,300 |
Newark, NJ PURPOSE: Career Works Infrastructure Stipends | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Newark Alliance Inc has recieved totaling $1,454,500.
| Awarding Organization | Amount |
|---|---|
Prudential Foundation Inc Newark, NJ PURPOSE: NEWARK'S ECONOMIC ROADMAPPING | $940,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $306,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $150,000 |
The Mcj Amelior Foundation Morristown, NJ PURPOSE: FOR GENERAL OPERATING SUPPORT | $41,000 |
Victoria Foundation Inc Newark, NJ PURPOSE: TO SUPPORT TECHNOLOGY NEEDS | $17,500 |
Endowment Analysis
| Beg. Balance | $1,699,848 |
| Earnings | $35,274 |
| Net Contributions | $936,583 |
| Grants | $1,475,856 |
| Ending Balance | $1,195,849 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lenfest Inst For Journalism Spe Asset Fund Of The Phl Foundation Philadelphia, PA | $99,634,192 | $14,397,650 |
Clara Lionel Foundation New York, NY | $44,086,810 | $23,596,509 |
Visionspring New York, NY | $15,269,850 | $12,679,680 |
America Gives Inc New York, NY | $1,069,288 | $7,827,978 |
Grant Recommendation Fund Spring Valley, NY | $460,055 | $4,767,095 |
Yougivegoods Foundation Inc Mendham, NJ | $162,103 | $4,310,625 |
Passavant Hospital Foundation Pittsburgh, PA | $52,435,888 | $5,249,843 |
The Essential Foundation Fka Aqua Charitable Trust Bryn Mawr, PA | $32,073,281 | $19,000,000 |
Bikoff Foundation Whitestone, NY | $65,723,002 | $14,790,071 |
Giving Tuesday Inc Brooklyn, NY | $1,987,227 | $3,527,479 |
The Meg And Bennett Goodman Family Foundation Jenkintown, PA | $50,458,470 | $11,004,981 |
The Meringoff Family Foundation Inc New York, NY | $455,360 | $3,000,005 |