Newgate Education & Research Center Inc
- Assets
- $5.5m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 16
- Location
- Minneapolis, MN
- Founding
- 03/1976
- Data as of
- 06/2024
- EIN
- 41-1261358
Organization Overview
Newgate Education & Research Center Inc is located in Minneapolis, MN. The organization was established in 1976. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2024, Newgate Education & Research Center Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newgate Education & Research Center 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 06/2024, Newgate Education & Research Center Inc generated $4.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $4.2m during the year ending 06/2024. While expenses have increased by 2.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST MINNESOTA CITIZENS IN BECOMING SUCCUSSFULLY EMPLOYED BY PROVIDING EDUCATION, VOCATIONAL TRAINING, EMPLOYMENT PLACEMENT, AND OTHER SUPPORT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES UNEMPLOYED OR UNDEREMPLOYED PERSONS WITH VOCATIONAL SKILLS, A WORK ETHIC AND THE PERSONAL CONFIDENCE NEEDED TO SUCCEED IN A CAREER OCCUPATION IN THE AUTOMOTIVE REPAIR TECHNOLOGY AREA.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary L Clark President | OfficerTrustee | 1 | $0 |
Robert Zins Vice President | OfficerTrustee | 1 | $0 |
Warren Peterson Treasurer | OfficerTrustee | 1 | $0 |
Blythe Severson Secretary | OfficerTrustee | 40 | $95,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,541,591 |
| Noncash contributions included in lines 1a–1f | $1,389,889 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,541,591 |
| Total Program Service Revenue | $2,448,169 |
| Investment income | $34,366 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $125,370 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,149,496 |
| 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. | $99,751 |
| Compensation of current officers, directors, key employees. | $19,950 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $869,196 |
| Pension plan accruals and contributions | $29,789 |
| Other employee benefits | $191,911 |
| Payroll taxes | $67,286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,727 |
| Fees for services: Other | $18,849 |
| Advertising and promotion | $361,590 |
| Office expenses | $138,605 |
| Information technology | $32,902 |
| Royalties | $0 |
| Occupancy | $75,334 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,752 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,188 |
| Insurance | $65,909 |
| All other expenses | $21,080 |
| Total functional expenses | $4,226,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,747 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,713 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $421,468 |
| Prepaid expenses and deferred charges | $51,135 |
| Net Land, buildings, and equipment | $2,399,286 |
| Investments—publicly traded securities | $2,495,140 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,077 |
| Total assets | $5,529,566 |
| Accounts payable and accrued expenses | $87,190 |
| Grants payable | $0 |
| Deferred revenue | $4,247 |
| 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 | $22,901 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $37,077 |
| Total liabilities | $151,415 |
| Net assets without donor restrictions | $5,367,915 |
| Net assets with donor restrictions | $10,236 |
| 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 | $5,529,566 |