Foundation For The New Jersey Hall Of Fame Inc
- Assets
- $6.9m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Newark, NJ
- Founding
- 01/2018
- Data as of
- 06/2022
- EIN
- 82-3388371
Organization Overview
Foundation For The New Jersey Hall Of Fame Inc is located in Newark, NJ. The organization was established in 2018. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Foundation For The New Jersey Hall Of Fame Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The New Jersey Hall Of Fame 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, Foundation For The New Jersey Hall Of Fame Inc generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 28.2% each year . All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 20.0% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CELEBRATE THE GARDEN STATE, TO HONOR OUR LEGENDS, AND TO INSPIRE OUR CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDUCTION CEREMONY: EACH YEAR, THE FOUNDATION HOSTS A CEREMONY FOR ITS NEWEST CLASS OF INDUCTEES. THE ANNUAL CEREMONY IS A CELEBRATION OF THE INDUCTEES AND NEW JERSEY AS A WHOLE, SERVING AS A CONTINUATION OF THE FOUNDATION'S MISSION: TO HONOR OUR LEGENDS AND INSPIRE OUR CHILDREN.
MOBILE MUSEUM: EACH YEAR, THE NEW JERSEY HALL OF FAME MOBILE MUSEUM WELCOMES THOUSANDS OF VISITORS IN COMMUNITIES ACROSS THE STATE. THROUGH IMAGES, ARTIFACTS, FILM, AND A SUITE OF INTERACTIVE TOOLS, NEW JERSEY'S LEADERS AND LEGENDS ARE MADE ACCESSIBLE TO EVERY CURIOUS IMAGINATION. THE 53-FOOT DOUBLE-EXPANDABLE TRAILER IS TRANSFORMED ON LOCATION TO 850 SQUARE FEET OF STUNNING EXHIBITION SPACE.
EDUCATIONAL PROGRAMS: THE FOUNDATION CONDUCTS A RANGE OF PROGRAMS DEDICATED TO CARRYING OUT ITS GOAL TO RECOGNIZE NEW JERSEYANS THAT DEMONSTRATE A SENSE OF COMMITMENT TO THEIR COMMUNITIES. AMONG THESE PROGRAMS IS THE ANNUAL ARTE SCHOLARSHIP AWARD TO ONE MALE AND ONE FEMALE STUDENT SET TO GRADUATE FROM NEW JERSEY HIGH SCHOOLS. EACH YEAR, THE TWO WINNERS EACH RECEIVE A $5,000 SCHOLARSHIP AND ARE HONORED AT NJHOF'S INDUCTION CEREMONY. ANOTHER NOTABLE PROGRAM RUN BY THE NEW JERSEY HALL OF FAME IS ITS LEGACY PROJECT, A SERIES OF INTERVIEWS WITH INDUCTEES MADE FOR STUDENT VIEWING AND INTEGRATION IN THE SCHOOL CURRICULUM. PAST SUBJECTS OF THE LEGACY PROJECT INCLUDE AUTHOR MARY HIGGINS CLARK, NFL HALL OF FAME PLAYER FRANCO HARRIS, FORMER NEW JERSEY GOVERNOR TOM KEAN, AND SINGER DIONNE WARWICK. BOTH THE ARTE SCHOLARSHIP AND THE LEGACY PROJECT ARE DIRECTED IN TANDEM WITH THE NEW JERSEY EDUCATION ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John F Hanson Chairman | OfficerTrustee | 10 | $0 |
Steve Edwards President | OfficerTrustee | 20 | $0 |
David Smith Vice President | OfficerTrustee | 2 | $0 |
Ted Knauss Treasurer | OfficerTrustee | 2 | $0 |
John Keegan Chairman Emeritus | Trustee | 5 | $0 |
Tony Armlin Outgoing Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,201,799 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,412,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,613,799 |
| Total Program Service Revenue | $146,325 |
| Investment income | $5 |
| 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 | $3,760,129 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $235,803 |
| Compensation of current officers, directors, key employees. | $95,347 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,054 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,683 |
| Payroll taxes | $23,733 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $701 |
| Fees for services: Accounting | $95,137 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,000 |
| Advertising and promotion | $140,740 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,451 |
| 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 | $117,374 |
| Insurance | $23,840 |
| All other expenses | $13,205 |
| Total functional expenses | $1,795,033 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,969,398 |
| Savings and temporary cash investments | $50,803 |
| Pledges and grants receivable | $275,075 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,173,181 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $400,000 |
| Total assets | $6,868,457 |
| Accounts payable and accrued expenses | $1,140,735 |
| 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 | $750,000 |
| Total liabilities | $1,890,735 |
| Net assets without donor restrictions | $3,567,722 |
| Net assets with donor restrictions | $1,410,000 |
| 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 | $6,868,457 |