Civic Intelligence

Renaissance Newark Foundation Inc.

990 • Fiscal year 2017 • EIN 22-2281902

Jan 01, 2017 to Dec 31, 2017 • Filed on May 04, 2018

60 Park Place No 1800Newark, NJ 07102

(973) 522-0099

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.07x

Higher debt load relative to assets than 91% of similar nonprofits.

2017 filings • NTEE T • <$500k nonprofits • Source year 2017

Liabilities / Revenue

90th percentile

0.06x

Higher debt load relative to revenue than 90% of similar nonprofits.

2017 filings • NTEE T • <$500k nonprofits • Source year 2017

Net Margin

60th percentile

11%

Higher net margin than 60% of similar nonprofits.

2017 filings • NTEE T • <$500k nonprofits • Source year 2017

Top Officer Pay

100th percentile

$241,842

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 119.7% of source-year revenue.

2017 filings • NTEE T • <$500k nonprofits • Source year 2017

Asset Growth

76th percentile

18%

Faster asset growth than 76% of similar nonprofits.

2017 filings • NTEE T • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

19th percentile

-44%

Faster revenue growth than 19% of similar nonprofits.

2017 filings • NTEE T • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$164,860

Up $24,882 (+18%) from 2016

Net Assets

Up

$153,155

Up $21,633 (+16%) from 2016

Liabilities

Up

$11,705

Up $3,249 (+38%) from 2016

Revenue

Down

$202,006

Down $158,093 (-44%) from 2016

Expenses

Down

$180,373

Down $188,055 (-51%) from 2016

Net Income

Up

$21,633

Up $29,962 (+360%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2011: $71,158Liabilities 2011: $8,535Net Assets 2011: $62,6232011Assets 2012: $92,076Liabilities 2012: $15,740Net Assets 2012: $76,3362012Assets 2013: $87,349Liabilities 2013: $5,705Net Assets 2013: $81,6442013Assets 2014: $101,123Liabilities 2014: $705Net Assets 2014: $100,4182014Assets 2015: $142,763Liabilities 2015: $2,912Net Assets 2015: $139,8512015Assets 2016: $139,978Liabilities 2016: $8,456Net Assets 2016: $131,5222016Assets 2017: $164,860Liabilities 2017: $11,705Net Assets 2017: $153,1552017Assets 2018: $165,659Liabilities 2018: $7,205Net Assets 2018: $158,4542018Assets 2019: $179,049Liabilities 2019: $25,581Net Assets 2019: $153,4682019Assets 2020: $198,308Liabilities 2020: $18,955Net Assets 2020: $179,3532020Assets 2021: $191,904Liabilities 2021: $24,706Net Assets 2021: $167,1982021Assets 2022: $211,721Liabilities 2022: $5,456Net Assets 2022: $206,2652022Assets 2023: $271,429Liabilities 2023: $90,080Net Assets 2023: $181,3492023Assets 2024: $219,359Liabilities 2024: $750Net Assets 2024: $218,6092024

Highlighted filing

2017

Assets$164,860
Liabilities$11,705
Net Assets$153,155

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0-$100KExpenses 2011: $227,3392011Expenses 2012: $144,7482012Revenue 2013: $143,786Expenses 2013: $138,478Net Income 2013: $5,3082013Revenue 2014: $174,298Expenses 2014: $154,338Net Income 2014: $19,9602014Revenue 2015: $300,862Expenses 2015: $261,429Net Income 2015: $39,4332015Revenue 2016: $360,099Expenses 2016: $368,428Net Income 2016: -$8,3292016Revenue 2017: $202,006Expenses 2017: $180,373Net Income 2017: $21,6332017Revenue 2018: $179,545Expenses 2018: $174,246Net Income 2018: $5,2992018Revenue 2019: $165,132Expenses 2019: $170,118Net Income 2019: -$4,9862019Revenue 2020: $184,672Expenses 2020: $158,787Net Income 2020: $25,8852020Revenue 2021: $86,601Expenses 2021: $98,756Net Income 2021: -$12,1552021Revenue 2022: $164,876Expenses 2022: $125,809Net Income 2022: $39,0672022Revenue 2023: $124,773Expenses 2023: $149,689Net Income 2023: -$24,9162023Revenue 2024: $145,804Expenses 2024: $108,544Net Income 2024: $37,2602024

Highlighted filing

2017

Revenue$202,006
Expenses$180,373
Net Income$21,633
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 4, 2018
Return Version
2017v2.2
Gross Receipts
$266,810
Mission and Program Overview

Mission

To promote improved relationships between divergent groups and to promote economic development in the newark region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$136,453$159,735▲ $23,282
Accounts Receivable$3,525$5,125▲ $1,600
Total Assets$139,978$164,860▲ $24,882
Liabilities
Deferred Revenue$7,750$8,000▲ $250
Accounts Payable and Accrued Expenses$706$3,705▲ $2,999
Total Liabilities$8,456$11,705▲ $3,249
Net Assets / Fund Balance
Unrestricted Net Assets$127,466$153,155▲ $25,689
Temporarily Rstr Net Assets$4,056$0▼ $4,056
Total Net Assets Fund Balance$131,522$153,155▲ $21,633
Total Liabilities and Net Assets / Fund Balance$139,978$164,860▲ $24,882
Compensation and Service Providers

Board Members and Trustees

NameTitle
George SousChair
Darrell TerryBoard Member
Emma MasseyBoard Member
Frank FerruggiaBoard Member
Mary MakfinskyBoard Member
Robert MarinoBoard Member
Samuel DelgadoBoard Member
Sharon TaylorBoard Member
William BestBoard Member
George HallockSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$202,006
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$41,020
Change in Net Assets
$21,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$180,373
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$120,185-$120,185
Fees for Services Accounting-$3,750-$3,750
Other Expenses$5,625$1,000-$1,000
All Other Expenses$660--$660
Total Functional Expenses$55,438$124,935$0$180,373
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$64,804
Fundraising Gross Income$64,804
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Museum Dinner$142,490$33,041$33,041$0
Golf$83,300$31,763$31,763$0
Total Events$225,790$64,804$64,804$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Form 990 is made available electronically to all board members before filing.

Form 990, Part VI, Section B, Line 12C

All board members disclose annually in writing any conflicts that exist. The board secreatry maintains annual statements.

Form 990, Part VI, Section B, Line 15

Executive committee reviews compensation data of comparable local nonprofits

Form 990, Part VI, Section C, Line 19

Financial information and policies are available upon request.

Filing and Contact Details

Filer

Filer Name
Renaissance Newark Foundation Inc
EIN
22-2281902
Phone
9735220099
Address
60 PARK PLACE NO 1800, NEWARK, NJ 07102

Signing Officer

Name
George Hallock
Title
Secretary
Phone
9735220099
Signed
2018-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Hallock
Formed
1979
Legal Domicile
Nj
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Spire Group Pc
Address
100 WALNUT AVE SUITE 103, CLARK, NJ 07066
Preparer
Judith Tutela CPA Rma
Phone
7323818887
Supplemental Narrative

Additional Explanations

Form 990 Part XI, Line 2C

The executive committee is responsible for the oversight of the audit process,

Financial Statement Notes

PART X, LINE 2:

The organization accounts for uncertainty in income taxes using a recognition threshold of more-likely-than not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold is met. Management determined there were no tax uncertainties that met the recognition threshold in 2017.

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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt033041
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt064804
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt064804
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt031763
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt033041
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd01
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd01
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt020000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0174425
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt015359
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt020058
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt012000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0GEORGE HALLOCK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0241842
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ANNUAL BONUSES ARE CONTINGENT UPON THE RESULTS OF ANNUAL OPERATIONS.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1ANNUAL BONUSES ARE CONTINGENT UPON THE RESULTS OF ANNUAL OPERATIONS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 5
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 6
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS MADE AVAILABLE ELECTRONICALLY TO ALL BOARD MEMBERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD MEMBERS DISCLOSE ANNUALLY IN WRITING ANY CONFLICTS THAT EXIST. THE BOARD SECREATRY MAINTAINS ANNUAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE COMMITTEE REVIEWS COMPENSATION DATA OF COMPARABLE LOCAL NONPROFITS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FINANCIAL INFORMATION AND POLICIES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT PROCESS,
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART XI, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NEWARK RBP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NEWARK REGIONAL BUSINESS PARTNERSHIP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0221644616
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CHARITABLE PROGRAMS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt060 PARK PLACE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEWARK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd007102
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt10
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt20
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt3120185
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0NEWARK REGIONAL BUSINESS PARTNERSHIP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1NEWARK REGIONAL BUSINESS PARTNERSHIP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2NEWARK REGIONAL BUSINESS PARTNERSHIP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3NEWARK REGIONAL BUSINESS PARTNERSHIP
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0L
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1N
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2O
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt04056
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0139978
IRS990/TotalAssetsEOYAmt0164860
IRS990/TotalAssetsGrp/BOYAmt0139978
IRS990/TotalAssetsGrp/EOYAmt0164860
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0202006
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0124935
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt055438
IRS990/TotalFunctionalExpensesGrp/TotalAmt0180373
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08456
IRS990/TotalLiabilitiesEOYAmt011705
IRS990/TotalLiabilitiesGrp/BOYAmt08456
IRS990/TotalLiabilitiesGrp/EOYAmt011705
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0131522
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0153155
IRS990/TotalOtherCompensationAmt035417
IRS990/TotalProgramServiceExpensesAmt055438
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.19$0.01$2.19$1.46$1.09$0.37
2023Detailed filing. Detailed filing data is available for this year.$2.71$0.90$1.81$1.25$1.50$0.25
2022Detailed filing. Detailed filing data is available for this year.$2.12$0.05$2.06$1.65$1.26$0.39
2021Detailed filing. Detailed filing data is available for this year.$1.92$0.25$1.67$0.87$0.99$0.12
2020Detailed filing. Detailed filing data is available for this year.$1.98$0.19$1.79$1.85$1.59$0.26
2019Detailed filing. Detailed filing data is available for this year.$1.79$0.26$1.53$1.65$1.70$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.66$0.07$1.58$1.80$1.74$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.65$0.12$1.53$2.02$1.80$0.22
2016Detailed filing. Detailed filing data is available for this year.$1.40$0.08$1.32$3.60$3.68$0.08
2015Detailed filing. Detailed filing data is available for this year.$1.43$0.03$1.40$3.01$2.61$0.39
2014Detailed filing. Detailed filing data is available for this year.$1.01$0.01$1.00$1.74$1.54$0.20
2013Detailed filing. Detailed filing data is available for this year.$0.87$0.06$0.82$1.44$1.38$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.16$0.76$1.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.09$0.63$2.27