Lakewood Economic Action Program Inc
- Assets
- $238.9k
- Revenue
- $2.6m
- Investments
- $263.0
- Employees
- 52
- Location
- Lakewood, NJ
- Founding
- 08/1992
- Data as of
- 12/2021
- 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 12/2021, Lakewood Economic Action Program Inc employed 52 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 12/2021, Lakewood Economic Action Program Inc generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) 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
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 195 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 |
|---|---|---|---|
Pam Hullen-Moore Vice President | OfficerTrustee | 2 | $0 |
Sam Rabinowitz President | OfficerTrustee | 2 | $0 |
Esther Halpren Treasurer | OfficerTrustee | 2 | $0 |
Beth Hudson CFO | Officer | 7 | $0 |
Margaret Saunders Head Start Director | Officer | 17 | $0 |
Michael J D'elia Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,612,594 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,400 |
| Noncash contributions included in lines 1a–1f | $5,400 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,617,994 |
| Total Program Service Revenue | $0 |
| Investment income | $8 |
| 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 | $2,618,056 |
| 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 | $1,246,566 |
| Pension plan accruals and contributions | $8,524 |
| Other employee benefits | $302,377 |
| Payroll taxes | $150,971 |
| Fees for services: Management | $100,296 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $78,433 |
| Advertising and promotion | $0 |
| Office expenses | $118,757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $254,781 |
| Travel | $50,148 |
| 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 | $27,744 |
| Insurance | $46,531 |
| All other expenses | $2,720 |
| Total functional expenses | $2,599,999 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,620 |
| Savings and temporary cash investments | $27,286 |
| Pledges and grants receivable | $66,373 |
| 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 | $121,288 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $263 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,047 |
| Total assets | $238,877 |
| Accounts payable and accrued expenses | $56,324 |
| 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 | $56,324 |
| Net assets without donor restrictions | $182,553 |
| 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 | $238,877 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lakewood Economic Action Program Inc has recieved totaling $1,844,847.
| Awarding Organization | Amount |
|---|---|
Ocean Community Economic Action Now Inc Toms River, NJ PURPOSE: HEAD START PROGRAM | $1,844,847 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Choose New Jersey Inc Newark, NJ | $7,145,867 | $9,053,939 |
Dauphin County Economic Development Corporation Harrisburg, PA | $8,424,591 | $10,449,757 |
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc Bethlehem, PA | $58,069,128 | $6,233,285 |
Greater Pittsburgh Convention & Visitors Bureau Inc Pittsburgh, PA | $10,210,665 | $8,196,256 |