Nj Edge Net Inc
- Assets
- $10.6m
- Revenue
- $11.8m
- Investments
- $0.0
- Employees
- 49
- Location
- Newark, NJ
- Founding
- 03/2001
- Data as of
- 06/2023
- EIN
- 22-3781807
Organization Overview
Nj Edge Net Inc is located in Newark, NJ. The organization was established in 2001. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 06/2023, NJ Edge Net Inc employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. NJ Edge Net 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 06/2023, NJ Edge Net Inc generated $11.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $12.7m during the year ending 06/2023. While expenses have increased by 6.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
NJEDGE.NET SUPPORTS NEW JERSEY'S RESEARCH AND EDUCATION COMMUNITY, AS WELL AS GOVERNMENT AND INDUSTRY PARTNERSHIPS, WITH ITS DEPLOYMENT OF A REGIONAL OPTICAL NETWORK PROVIDING STATEWIDE BROADBAND ACCESS AND STATE OF THE ART EMERGING TECHNOLOGIES TO ENRICH THE EDUCATIONAL AND RESEARCH MISSIONS OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NJEDGE.NET PROCURES, OPERATES AND MANAGES A STATE-WIDE NETWORK SOLELY ON BEHALF OF EDUCATIONAL AND RESEARCH INSTITUTIONS IN NJ. THIS IS A 24/7, YEAR-ROUND OPERATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Steven Rose Chair | OfficerTrustee | 2 | $0 |
Neal Sturm Secretary | OfficerTrustee | 2 | $0 |
Dr Anthony Iacono Treasurer | OfficerTrustee | 2 | $0 |
Dr James Barr Van Oehsen Trustee | Trustee | 2 | $0 |
Dr Mira Lalovic-Hand Trustee | Trustee | 2 | $0 |
Michele Norin Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $576,690 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $576,690 |
| Total Program Service Revenue | $11,153,116 |
| Investment income | $39,844 |
| 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 | $11,770,462 |
| 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. | $1,387,315 |
| Compensation of current officers, directors, key employees. | $489,780 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,929,952 |
| Pension plan accruals and contributions | $158,911 |
| Other employee benefits | $326,644 |
| Payroll taxes | $284,222 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,481 |
| Fees for services: Accounting | $30,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,238,971 |
| Advertising and promotion | $0 |
| Office expenses | $47,221 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $158,381 |
| Travel | $57,352 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,461 |
| Interest | $187,138 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $970,262 |
| Insurance | $0 |
| All other expenses | $20,103 |
| Total functional expenses | $12,692,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,500 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $879,807 |
| 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 | $2,231,093 |
| Net Land, buildings, and equipment | $3,493,170 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $55,404 |
| Other assets | $3,784,100 |
| Total assets | $10,645,074 |
| Accounts payable and accrued expenses | $3,371,387 |
| Grants payable | $0 |
| Deferred revenue | $460,980 |
| 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 | $1,705,205 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,866,361 |
| Total liabilities | $9,403,933 |
| Net assets without donor restrictions | $1,241,141 |
| 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 | $10,645,074 |