Nj Leep Inc
- Assets
- $6.4m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 63
- Location
- Newark, NJ
- Founding
- 09/2006
- Data as of
- 06/2023
- EIN
- 51-0591204
Organization Overview
Nj Leep Inc is located in Newark, NJ. The organization was established in 2006. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 06/2023, NJ Leep Inc employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. NJ Leep 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 06/2023, NJ Leep Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $3.0m during the year ending 06/2023. While expenses have increased by 7.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
A COLLEGE ACCESS AND SUCCESS PROGRAM SERVING LOW INCOME AND FIRST-GENERATION STUDENTS IN THE GREATER NEWARK AREA, EMPOWERING THEM WITH ACADEMIC AND SKILLS TO SUCCEED IN COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NJ LEEP SERVES STUDENTS IN GRADES 6-12, ALUMNI THROUGHOUT THE COUNTRY, AND FAMILY MEMBERS. MOST OF OUR STUDENTS COME FROM LOW TO MODERATE-INCOME BACKGROUNDS AND POSSESS MULTIPLE RISK FACTORS TO COLLEGE MATRICULATION AND PERSISTENCE. SINCE OUR FIRST GRADUATING CLASS OF 2011, 100% OF OUR PROGRAM GRADUATES HAVE GRADUATED FROM HIGH SCHOOL AND ENROLLED IN COLLEGE, MANY IN HIGHLY SELECTIVE COLLEGES, SUCH AS AMHERST, GEORGETOWN, PRINCETON, RUTGERS, SMITH AND THE UNIVERSITY OF CHICAGO. IN COMPARISON, RESEARCH SHOWS THAT SINCE 2011, THE COLLEGE SCHOOL GRADUATION RATE FROM STUDENTS IN NEWARK PUBLIC SCHOOLS IS 23%. WE ALSO MEASURE THE COLLEGE PERSISTENCE RATE OF OUR GRADUATES: OVER 73% GRADUATED FROM COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Feinstein Executive Director | Officer | 40 | $174,758 |
Megan Howard Noveck Director Of Operations | 40 | $109,478 | |
Zenola Harper Chair | OfficerTrustee | 2 | $0 |
Solangel Maldonado Vice Chair | OfficerTrustee | 2 | $0 |
Casey Kobi Secretary | OfficerTrustee | 2 | $0 |
Zachary Surak Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,157,045 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,462,498 |
| Noncash contributions included in lines 1a–1f | $10,750 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,619,543 |
| Total Program Service Revenue | $0 |
| Investment income | $28,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$39,521 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,608,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $63,544 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $194,514 |
| Compensation of current officers, directors, key employees. | $98,833 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,428,668 |
| Pension plan accruals and contributions | $27,311 |
| Other employee benefits | $148,531 |
| Payroll taxes | $156,800 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $211,769 |
| Advertising and promotion | $0 |
| Office expenses | $58,903 |
| Information technology | $82,321 |
| Royalties | $0 |
| Occupancy | $359,377 |
| Travel | $40,121 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,078 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,695 |
| Insurance | $31,995 |
| All other expenses | $62,226 |
| Total functional expenses | $2,956,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,019,542 |
| Savings and temporary cash investments | $803,054 |
| Pledges and grants receivable | $390,301 |
| 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 | $34,353 |
| Net Land, buildings, and equipment | $113,905 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,074,659 |
| Total assets | $6,435,814 |
| Accounts payable and accrued expenses | $228,962 |
| 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 | $0 |
| Other liabilities | $3,146,198 |
| Total liabilities | $3,375,160 |
| Net assets without donor restrictions | $2,477,805 |
| Net assets with donor restrictions | $582,849 |
| 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 | $6,435,814 |