Newark Trust For Education Inc
- Assets
- $1.5m
- Revenue
- $643.5k
- Investments
- $0.0
- Employees
- 19
- Location
- Newark, NJ
- Founding
- 05/2003
- Data as of
- 06/2022
- EIN
- 38-3663314
Organization Overview
Newark Trust For Education Inc is located in Newark, NJ. The organization was established in 2003. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Newark Trust For Education Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newark Trust For Education 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 06/2022, Newark Trust For Education Inc generated $643.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 14.3% 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 2016, Newark Trust For Education Inc has awarded 84 individual grants totaling $3,941,817. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
INDEPENDENT ORGANIZATION DEDICATED TO DEVELOPING, COORDINATING, AND FOCUSING IDEAS, RESOURCES AND EXPERTISE AND HOLDING EVERYONE ACCOUNTABLE FOR QUALITY EDUCATION IN NEWARK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
P TO 12 INITIATIVE - SEE SCHEDULE O FOR DETAILS
COMMUNICATIONS- SEE SCHEDULE O FOR DETAILS
EARLY LEARNING INITIATIVE - SEE SCHEDULE O FOR DETAILS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Chaluisan Executive Director | Officer | 40 | $303,677 |
Oana S Vicol Director Of Finance | Officer | 40 | $93,191 |
Stacey Alicea Need Title | 40 | $100,001 | |
Robert Clark Co-Chair - Board Member | OfficerTrustee | 1 | $0 |
Celia M King Co-Chair/secretary-Member | OfficerTrustee | 2 | $0 |
Nancy Cantor Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Exponent Partners Consulting | 6/29/21 | $118,410 |
Bank Street College Of Education Workshops/training | 6/29/21 | $110,193 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $317,180 |
| All other contributions, gifts, grants, and similar amounts not included above | $208,985 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $526,165 |
| Total Program Service Revenue | $112,500 |
| Investment income | $4,754 |
| 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 | $643,493 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $94,428 |
| 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. | $453,990 |
| Compensation of current officers, directors, key employees. | $119,155 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $762,669 |
| Pension plan accruals and contributions | $16,248 |
| Other employee benefits | $91,506 |
| Payroll taxes | $90,790 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,449 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $184,543 |
| Advertising and promotion | $0 |
| Office expenses | $23,503 |
| Information technology | $13,336 |
| Royalties | $0 |
| Occupancy | $68,735 |
| Travel | $5,692 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,039 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122 |
| Insurance | $3,692 |
| All other expenses | $0 |
| Total functional expenses | $1,874,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $514,032 |
| Savings and temporary cash investments | $536,190 |
| Pledges and grants receivable | $479,180 |
| 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 | $408 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,529,810 |
| Accounts payable and accrued expenses | $87,279 |
| Grants payable | $154,491 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,702 |
| 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 | $259,472 |
| Net assets without donor restrictions | $161,708 |
| Net assets with donor restrictions | $1,108,630 |
| 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 | $1,529,810 |
Grants Awarded
Over the last fiscal year, Newark Trust For Education Inc has awarded $90,438 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BELMONT RUNYON ELEMENTARY SCHOOL PURPOSE: Education | $33,175 |
DR WILLIAM H HORTON ELEMENTARY SCHOOL PURPOSE: Education | $25,641 |
ROSEVILLE COMMUNITY CHARTER SCHOOL PURPOSE: EDUCATION | $7,967 |
SCIENCE PARK HIGH SCHOOL PURPOSE: EDUCATION | $23,655 |