Foundation For Newark's Future Inc
- Assets
- $0.0
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 4
- Location
- Morristown, NJ
- Founding
- Data as of
- 04/2016
- EIN
- 27-3453412
Organization Overview
Foundation For Newark's Future Inc is located in Morristown, NJ. As of 04/2016, Foundation For Newark's Future Inc employed 4 individuals. Foundation For Newark's Future 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 04/2016, Foundation For Newark's Future Inc generated $4.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (46.2%) each year. All expenses for the organization totaled $5.0m during the year ending 04/2016. As we would expect to see with falling revenues, expenses have declined by (45.3%) per year over the past 2 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A FOUNDATION FOR SYSTEMATIC EDUCATIONAL REFORM WITHIN NEWARK, NJ.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL LEADERSHIP AND TEACHER QUALITYTHE FOUNDATION HAS PURSUED A COMPREHENSIVE STRATEGY TO RECRUIT, RETAIN AND EMPOWER A TOP NOTCH POOL OF EDUCATOR TALENT FOR TEACHER AND LEADER ROLES IN THE CITY. THE MOST SIGNIFICANT INVESTMENT IN THIS AREA IN 2016 WAS THE FOUNDATION'S CONTINUED SUPPORT AND FUNDING OF THE LABOR CONTRACT BETWEEN NEWARK PUBLIC SCHOOLS AND THE NEWARK TEACHERS UNION, AND THE RELATED COSTS TO EVALUATE AND IMPLEMENT THE CONTRACT.
EARLY CHILDHOOD EDUCATION THE FOUNDATION BELIEVES THAT EARLY CHILDHOOD EDUCATION IS A KEY DETERMINING FACTOR TO POSITIVE EDUCATIONAL OUTCOMES FOR KIDS. THE FOUNDATION INVESTED IN INITIATIVES IN THIS AREA DESIGNED TO INCREASE PROFESSIONAL DEVELOPMENT, FOSTER GREATER PARENTAL ENGAGEMENT AND ESTABLISH A LOVE OF LEARNING FROM THE EARLIEST YEARS. THE BIGGEST INVESTMENTS IN THIS AREA WERE RAISING A READER AND MY VERY OWN LIBRARY, BOTH DESIGNED TO PROMOTE A CULTURE OF LITERACY AMONG STUDENTS AND THEIR FAMILIES.
NEWARK PUBLIC SCHOOLS AND OPERATING EXCELLENCETHE NPS OPERATIONAL EXCELLENCE PROGRAM PROVIDES TECHNICAL ASSISTANCE AND STRATEGIC PLANNING SUPPORT TO NEWARK PUBLIC SCHOOLS.
COMMUNITY ENGAGEMENT THE FOUNDATION TAKES A COMPREHENSIVE APPROACH TO IMPROVING EDUCATIONAL OUTCOMES FOR NEWARK CHILDREN. THE ORGANIZATION PROVIDES RESOURCES AND PROGRAMMING BOTH DIRECTLY FOR THE SCHOOL SYSTEMS AS WELL AS THE SURROUNDING COMMUNITIES AND ORGANIZATIONS THAT SERVE THE CHILDREN. AMONG THE BIGGEST INVESTMENTS IN THIS AREA FOR 2016 WAS A CITY-WIDE SUMMER YOUTH EMPLOYMENT PROGRAM AND FUNDING A CITY-WIDE COLLEGE-COMPLETION INITIATIVE CALLED THE NEWARK CITY OF LEARNING COLLABORATIVE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Bernstein Chairman | OfficerTrustee | 10 | $0 |
Jennifer Holleran Secretary/treasurer | OfficerTrustee | 10 | $0 |
Senator Cory Booker Trustee | Trustee | 1 | $0 |
Enrico Gaglioti Trustee | Trustee | 1 | $0 |
Dr Robert Johnson Trustee | Trustee | 1 | $0 |
Kimberly Mclain President And CEO | Officer | 40 | $207,350 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keystone Consulting Us Llc Nps Universal Enrollment Project | 12/30/15 | $415,804 |
Mccarter & English Llp Nps Legal Services | 12/30/15 | $151,962 |
Harvard University Nps Analysis/consulting | 12/30/15 | $134,000 |
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 | $4,276,335 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,276,335 |
| Total Program Service Revenue | $0 |
| Investment income | $663 |
| 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 | $4,276,998 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,372,527 |
| 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. | $224,641 |
| Compensation of current officers, directors, key employees. | $224,641 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $106,942 |
| Pension plan accruals and contributions | $7,593 |
| Other employee benefits | $8,540 |
| Payroll taxes | $26,316 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $112,526 |
| Fees for services: Accounting | $51,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $28,678 |
| Office expenses | $16,366 |
| Information technology | $20,123 |
| Royalties | $0 |
| Occupancy | $33,449 |
| Travel | $4,556 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,549 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,669 |
| All other expenses | $686 |
| Total functional expenses | $5,018,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |
Grants Awarded
Over the last fiscal year, Foundation For Newark's Future Inc has awarded $2,552,120 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FOUNDATION OF NJ PURPOSE: SEE PART IV | $2,338,787 |
SUPPORT CENTER FOR NON PROFIT MANAGEMENT PURPOSE: SEE PART IV | $83,833 |
NATIONAL CARES MENTORING MOVEMENT PURPOSE: SEE PART IV | $62,500 |
THE REINVESTMENT FUND PURPOSE: SEE PART IV | $53,000 |
PROGRAMS FOR PARENTS PURPOSE: SEE PART IV | $14,000 |