Lakewood Economic Action Program Inc
- Assets
- $245.3k
- Revenue
- $1.8m
- Investments
- $263.0
- Employees
- 42
- Location
- Lakewood, NJ
- Founding
- 08/1992
- Data as of
- 12/2022
- EIN
- 22-3075435
Organization Overview
Lakewood Economic Action Program Inc is located in Lakewood, NJ. The organization was established in 1992. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Lakewood Economic Action Program Inc employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakewood Economic Action Program 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 12/2022, Lakewood Economic Action Program Inc generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.4%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LAKEWOOD ECONOMIC ACTION PROGRAM INC. (LEAP) PROVIDES COMPREHENSIVE CHILD DEVELOPMENT SERVICES TO LOW-INCOME FAMILIES. AN EARLY HEAD START GRANT ENABLED LEAP TO EXPAND THE PROGRAM TO INCLUDE PREGNANT WOMEN AND FAMILIES WITH NEWBORN BABIES AND CHILDREN UP TO 3 YEARS OLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEAD START PROGRAM/EARLY HEAD START - THE AGENCY ADMINISTERED THE HEAD START PROGRAM TO 141 CHILDREN.
CHILD & ADULT FOOD PROGRAM - THE AGENCY PROVIDED MEALS FOR THE HEAD START ENROLLEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Rabinowitz Chairperson | OfficerTrustee | 2 | $0 |
Pam Hullen-Moore Treasurer | OfficerTrustee | 2 | $0 |
Esther Halpren Vice Chairperson | OfficerTrustee | 2 | $0 |
Michael J D'elia Trustee | Trustee | 2 | $0 |
Anita Woolery Trustee | Trustee | 2 | $0 |
Glynis Gray Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,803,867 |
| 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 | $1,803,867 |
| Total Program Service Revenue | $0 |
| Investment income | $6 |
| 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 | $1,803,873 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $905,532 |
| Pension plan accruals and contributions | $7,823 |
| Other employee benefits | $225,113 |
| Payroll taxes | $123,690 |
| Fees for services: Management | $40,400 |
| Fees for services: Legal | $298 |
| Fees for services: Accounting | $15,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,333 |
| Advertising and promotion | $0 |
| Office expenses | $69,395 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $118,966 |
| Travel | $32,391 |
| 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 | $18,045 |
| Insurance | $48,097 |
| All other expenses | $135 |
| Total functional expenses | $1,795,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,620 |
| Savings and temporary cash investments | $31,864 |
| Pledges and grants receivable | $33,568 |
| 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 | $155,922 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $263 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,047 |
| Total assets | $245,284 |
| Accounts payable and accrued expenses | $54,847 |
| 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 | $0 |
| Total liabilities | $54,847 |
| Net assets without donor restrictions | $190,437 |
| 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 | $245,284 |