Newark Regional Business Partnership Inc
- Assets
- $1.1m
- Revenue
- $769.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Newark, NJ
- Founding
- 03/1961
- Data as of
- 12/2021
- EIN
- 22-1644616
Organization Overview
Newark Regional Business Partnership Inc is located in Newark, NJ. The organization was established in 1961. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Newark Regional Business Partnership Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newark Regional Business Partnership Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Newark Regional Business Partnership Inc generated $769.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $682.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE PROSPERITY OF THE BUSINESS COMMUNITY IN THE NEWARK REGION AND TO ASSIST MEMBERS WITH SOLUTIONS FOR THEIR BUSINESS PROBLEMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS RELATED TO REAL ESTATE,TRANSPORTATION, ECONOMICS AND DEVELOPMENT OF THE NEWARK REGION
PROGRAMS SPONSORED TO PROVIDE MARKETING AND NETWORKING OPPORTUNITIES FOR MEMBERS
PROGRAMS RELATED TO DOING BUSINESS IN THE NEWARK REGION
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chip Hallock President & CEO | OfficerTrustee | 34 | $203,750 |
Barbara Kaufman Vice President & COO | 6 | $152,250 | |
Calvin Ledford Chair | OfficerTrustee | 2 | $0 |
Frank Ferruggia At-Large | OfficerTrustee | 2 | $0 |
Jennifer Mazawey Secretary | OfficerTrustee | 2 | $0 |
Darrell Terry Sr Immediate Past Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $169,564 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $169,564 |
| Total Program Service Revenue | $576,660 |
| Investment income | $392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$57,503 |
| 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 | $769,113 |
| 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. | $356,000 |
| Compensation of current officers, directors, key employees. | $96,120 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,009 |
| Pension plan accruals and contributions | $33,298 |
| Other employee benefits | $44,302 |
| Payroll taxes | $35,453 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,341 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,055 |
| Advertising and promotion | $600 |
| Office expenses | $775 |
| Information technology | $14,556 |
| Royalties | $0 |
| Occupancy | $5,385 |
| Travel | $2,305 |
| 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 | $1,136 |
| Insurance | $6,343 |
| All other expenses | $0 |
| Total functional expenses | $682,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,214 |
| Savings and temporary cash investments | $397,694 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,095 |
| 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 | $0 |
| Investments—publicly traded securities | $549,965 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,147 |
| Total assets | $1,118,115 |
| Accounts payable and accrued expenses | $63,380 |
| Grants payable | $0 |
| Deferred revenue | $165,924 |
| 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 | $10,400 |
| Total liabilities | $239,704 |
| Net assets without donor restrictions | $878,411 |
| Net assets with donor restrictions | $0 |
| 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 | $1,118,115 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Newark Regional Business Partnership Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Barnabas Health Inc Oceanport, NJ PURPOSE: SPONSORSHIPS | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nysa-Ila Container Royalty Fund Jersey City, NJ | $55,480,172 | $104,394,382 |
Unsatisfied Claims & Judgement Fund Basking Ridge, NJ | $69,007,782 | $67,404,449 |
Gs1 Us Inc Ewing, NJ | $478,037,755 | $93,863,501 |
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |
Workers Compensation Security Fund Basking Ridge, NJ | $229,766,675 | $28,644,741 |