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Invest Newark a New Jersey Nonprofit Corp
Invest Newark a New Jersey Nonprofit Corp reported $10.3 million in revenue and $8.7 million in expenses for calendar year 2024. Of every $100 it spent, $72.37 went to program services, $27.63 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 93.8% of the total. Government grants made up 58.9%. The highest compensation it reported for one person was $242,995 (PRESIDENT & CEO). 7 people received more than $100,000 in reportable compensation. Revenue rose 232% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $8.7MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $10M- Contributions & grants (non-government)$33.03 $3.6M
- Government grants$55.75 $6.1M
- Program service revenue$11.22 $1.2M
Investment income was negative: −$578K. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 72.4% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 27.6% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 93.8% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 58.9% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 11.9% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | $242,995 | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.78% | 1.49% |
| People paid over $100,000 Part VII, line 2 | 7 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 34.3 | 9.2 |
| Independent voting board members Part VI 1a–1b | 7 of 7 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseSmall minority business dev/investments & lending: Invest Newark facilitated small business loans and expanded an initiative to give small and minority businesses more access to credit, contracting opportunities and technical assistance to promote small minority business deveopment
Real estate dev/land bank: the agency helped both developers and businesses access newark's vast development opportunities by assisting with a wide range of services including site selection, permitting, approvals, and financing. Additionally, the agency managed real estate projects on behalf of the city such as the newark riverfront park project.in july 2019, the state of New Jersey passed an act (p.l.2019, c.159 (c.40a:12a-74 et seq.) known as the "New Jersey land bank law." in the month of april 2020, the city council of the city of newark passed ordinance 18:15:1 establishment of land…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Officer, 40.00 hrs/week | $180,000 | $0 | $62,995 | $242,995 |
| CFO Officer, 40.00 hrs/week | $180,662 | $0 | $53,266 | $233,928 |
| CHIEF INNOVATIVE ECONOMY OFFICER Key employee, 40.00 hrs/week | $179,801 | $0 | $33,065 | $212,866 |
| GENERAL COUNSEL Key employee, 40.00 hrs/week | $173,400 | $0 | $34,293 | $207,693 |
| CHIEF REAL ESTATE DEVELOPMENT OFFICER Key employee, 40.00 hrs/week | $165,000 | $0 | $24,017 | $189,017 |
| CHIEF BUSINESS DEVELOPMENT OFFICER Key employee, 40.00 hrs/week | $155,000 | $0 | $31,761 | $186,761 |
| SVP OF FINANCE Officer, 40.00 hrs/week | $142,139 | $0 | $6,576 | $148,715 |
| CHIEF LENDING DEVELOPMENT OFFICER Director/trustee, officer, 40.00 hrs/week | $52,308 | $0 | $10,462 | $62,770 |
7 people received more than $100,000 in reportable compensation from Invest Newark a New Jersey Nonprofit Corp (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.2M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b7 · 7 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 524
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| CM CONSULTING II LLC Construction services | $619,082 |
| PRO CONSTRUCTION & MANAGEMENT GROUP Construction services | $483,000 |
| J & A REAL ESTATE DEVELOPMENT LLC Construction services | $313,875 |
| VISION INTERNATIONAL ENTERPRISES Construction services | $271,991 |
| ALGORITHM REAL ESTATE HOLDINGS LLC Construction services | $251,221 |
Individuals listed as contractors are left out. 11 contractors were paid more than $100,000 in all.
Private foundation grants it received
5 private foundations reported grants to Invest Newark a New Jersey Nonprofit Corp totaling $676K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Invest Newark a New Jersey Nonprofit Corp's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Invest Newark a New Jersey Nonprofit Corp, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Invest Newark a New Jersey Nonprofit Corp spent in 2024, $72.37 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Minneapolis Saint Paul Regional Economic Development PartnershipSaint Paul, MN · revenue $10M · programs 77.4% · 2024
- Greater Phoenix Economic CouncilPhoenix, AZ · revenue $10M · programs 83.7% · FY2025
- Just-A-Start CorporationCambridge, MA · revenue $10M · programs 82.1% · 2024
- Hungry Hill Community DevelopmentHanover, MA · revenue $10M · programs 0.0% · FY2025
- Virginia OrganizingCharlottesville, VA · revenue $10M · programs 95.8% · 2025
All community improvement & capacity building charities · Largest charities in New Jersey
Questions people ask
How much of Invest Newark a New Jersey Nonprofit Corp's spending goes to programs?
In calendar year 2024, Invest Newark a New Jersey Nonprofit Corp reported that 72.4% of its $8.7 million in expenses went to program services, 27.6% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Invest Newark a New Jersey Nonprofit Corp pay its top executive?
The largest total compensation Invest Newark a New Jersey Nonprofit Corp reported for one person in calendar year 2024 was $242,995, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Invest Newark a New Jersey Nonprofit Corp get its money?
Of $10.3 million in revenue in calendar year 2024, 93.8% came from contributions and grants (including 58.9% from government grants) and 11.9% from program service revenue (Form 990, Part VIII).
Is Invest Newark a New Jersey Nonprofit Corp a registered charity?
The IRS lists EIN 26-0829057 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202522769349301102 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202423209349327807 · read the filing
- 2022: Form 990 for calendar year 2022, object 202332729349300808 · read the filing
- 2021: Form 990 for calendar year 2021, object 202243199349314499 · read the filing
- 2020: Form 990 for calendar year 2020, object 202211389349301711 · read the filing
- 2019: Form 990 for calendar year 2019, object 202012529349301206 · read the filing
All filings for EIN 26-0829057: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.