New Jersey Restaurant Educational Foundation Inc
- Assets
- $122.3k
- Revenue
- $50.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Trenton, NJ
- Founding
- 05/1998
- Data as of
- 12/2022
- EIN
- 22-3549761
Organization Overview
New Jersey Restaurant Educational Foundation Inc is located in Trenton, NJ. The organization was established in 1998. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey Restaurant Educational Foundation 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, New Jersey Restaurant Educational Foundation Inc generated $50.3k 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 (7.3%) each year. All expenses for the organization totaled $83.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.8%) 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 ORGANIZATION IS ORGANIZED TO PROMOTE RESEARCH AND EDUCATION IN THE RESTAURANT/HOSPITALITY INDUSTRY, TO DISTRIBUTE SCHOLARSHIP FUNDS TO QUALIFIED STUDENTS, AND TO EDUCATE PEOPLE TO THE BENEFITS OF PURSUING A CAREER IN THE RESTAURANT/HOSPITALITY INDUSTRY IN NJ.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAMS NJREF PROVIDES EDUCATIONAL COURSES AND MATERIALS RELATING TO THE RESTAURANT/HOSPITALITY INDUSTRY THROUGH THE SERVSAFE EDUCATION PROGRAM. NJREF ALSO TEAMED UP WITH THE NATIONAL RESTAURANT EDUCATIONAL FOUNDATION TO BRING THE RESTAURANT INDUSTRY INTO THE CLASSROOM. PROSTART IS A NATIONALLY RECOGNIZED TWO-YEAR PROGRAM FOR HIGH SCHOOL STUDENTS THAT EDUCATES AND DEVELOPS THOSE STUDENTS INTO FUTURE LEADERS OF THE RESTAURANT AND HOSPITALITY INDUSTRY. THE RESTAURANT AND HOSPITALITY INDUSTRY.
DURING THE PANDEMIC, THE ORGANIZATION RECEIVED GRANTS WHICH WERE USED TO SUPPORT LOCAL RESTAURANTS. ADDITIONALLY, THE ORGANIZATION CREATED THE BEVERAGE AND FOOD EMPLOYEE CRISIS SUPPORT FUND. THE GRANTS WERE USED TO SUPPORT FRONT OF HOUSE AND BACK OF HOUSE EMPLOYEES OF THE BEVERAGE AND FOOD INDUSTRY IN TIMES OF PERSONAL CRISIS OR NATIONAL DISASTER.
SCHOLARSHIPS PROVIDE SCHOLARSHIPS TO STUDENTS WHO ARE MATRICULATING IN A RESTAURANT/HOSPITALITY-INDUSTRY RELATED PROGRAM. DURING 2021, THE ORGANIZATION PROVIDED SCHOLARSHIPS TO 8 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Lancellotti Secretary | OfficerTrustee | 5 | $0 |
Leslie Steele Vice Preside | OfficerTrustee | 20 | $0 |
Daniel Cannizzo Director | Trustee | 1 | $0 |
Amy Coss Director | Trustee | 1 | $0 |
Jeanne Cretella Director | Trustee | 1 | $0 |
Tim Delaney Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,191 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,191 |
| Total Program Service Revenue | $17,390 |
| Investment income | $229 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $20,490 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,300 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500 |
| Grants and other assistance to domestic individuals. | $5,750 |
| 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 | $46,151 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,239 |
| Payroll taxes | $4,470 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,241 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $586 |
| 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 | $407 |
| Insurance | $0 |
| All other expenses | $6,538 |
| Total functional expenses | $83,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,326 |
| Savings and temporary cash investments | $109,334 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500 |
| 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 | $8,188 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $122,348 |
| Accounts payable and accrued expenses | $4,501 |
| 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 | $19,828 |
| Other liabilities | $157,796 |
| Total liabilities | $182,125 |
| Net assets without donor restrictions | -$188,243 |
| Net assets with donor restrictions | $128,466 |
| 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 | $122,348 |