Civic Intelligence

Nj Edge Net Inc.

990 • Fiscal year 2019 • EIN 22-3781807

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 14, 2020

625 Broad Street No 260Newark, NJ 07102

(973) 596-5490

Siviq Scores

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

Liabilities / Assets

61st percentile

0.47x

Higher debt load relative to assets than 61% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

0.38x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Net Margin

18th percentile

-7.3%

Higher net margin than 18% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

84th percentile

$290,909

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Asset Growth

54th percentile

4.6%

Faster asset growth than 54% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

77th percentile

19%

Faster revenue growth than 77% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$8,230,589

Up $359,248 (+4.6%) from 2018

Net Assets

Down

$4,355,446

Down $741,418 (-15%) from 2018

Liabilities

Up

$3,875,143

Up $1,100,666 (+40%) from 2018

Revenue

Up

$10,199,966

Up $1,661,502 (+19%) from 2018

Expenses

Up

$10,941,384

Up $2,419,762 (+28%) from 2018

Net Income

Down

-$741,418

Down $758,260 (-4502%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $2,099,731Liabilities 2010: $338,292Net Assets 2010: $1,761,4392010Assets 2011: $3,367,374Liabilities 2011: $1,384,719Net Assets 2011: $1,982,6552011Assets 2012: $3,816,884Liabilities 2012: $1,870,401Net Assets 2012: $1,946,4832012Assets 2013: $3,153,773Liabilities 2013: $498,481Net Assets 2013: $2,655,2922013Assets 2014: $7,665,685Liabilities 2014: $3,756,012Net Assets 2014: $3,909,6732014Assets 2015: $6,992,000Liabilities 2015: $3,352,110Net Assets 2015: $3,639,8902015Assets 2016: $7,126,105Liabilities 2016: $2,474,905Net Assets 2016: $4,651,2002016Assets 2017: $8,382,352Liabilities 2017: $3,302,330Net Assets 2017: $5,080,0222017Assets 2018: $7,871,341Liabilities 2018: $2,774,477Net Assets 2018: $5,096,8642018Assets 2019: $8,230,589Liabilities 2019: $3,875,143Net Assets 2019: $4,355,4462019Assets 2020: $8,156,961Liabilities 2020: $4,313,867Net Assets 2020: $3,843,0942020Assets 2021: $7,361,356Liabilities 2021: $4,334,649Net Assets 2021: $3,026,7072021Assets 2022: $7,375,107Liabilities 2022: $5,212,183Net Assets 2022: $2,162,9242022Assets 2023: $10,645,074Liabilities 2023: $9,403,933Net Assets 2023: $1,241,1412023Assets 2024: $12,226,329Liabilities 2024: $11,757,217Net Assets 2024: $469,1122024

Highlighted filing

2019

Assets$8,230,589
Liabilities$3,875,143
Net Assets$4,355,446

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $5,232,3282010Expenses 2011: $5,481,4742011Expenses 2012: $6,177,3612012Expenses 2013: $5,879,8162013Revenue 2014: $7,963,820Expenses 2014: $6,709,439Net Income 2014: $1,254,3812014Revenue 2015: $8,328,977Expenses 2015: $8,598,760Net Income 2015: -$269,7832015Revenue 2016: $8,380,343Expenses 2016: $7,726,355Net Income 2016: $653,9882016Revenue 2017: $8,104,353Expenses 2017: $7,675,531Net Income 2017: $428,8222017Revenue 2018: $8,538,464Expenses 2018: $8,521,622Net Income 2018: $16,8422018Revenue 2019: $10,199,966Expenses 2019: $10,941,384Net Income 2019: -$741,4182019Revenue 2020: $11,381,148Expenses 2020: $11,893,500Net Income 2020: -$512,3522020Revenue 2021: $11,397,908Expenses 2021: $12,214,295Net Income 2021: -$816,3872021Revenue 2022: $12,640,759Expenses 2022: $13,504,542Net Income 2022: -$863,7832022Revenue 2023: $11,770,462Expenses 2023: $12,692,245Net Income 2023: -$921,7832023Revenue 2024: $13,071,551Expenses 2024: $13,843,580Net Income 2024: -$772,0292024

Highlighted filing

2019

Revenue$10,199,966
Expenses$10,941,384
Net Income-$741,418
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 14, 2020
Return Version
2018v3.2
Gross Receipts
$10,199,966
Mission and Program Overview

Mission

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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,624,312$3,105,036▲ $480,724
Prepaid Expenses and Deferred Charges$555,761$1,840,637▲ $1,284,876
Cash and Non-Interest-Bearing Accounts-$1,342,097-
Accounts Receivable$741,895$1,237,123▲ $495,228
Intangible Assets$526,759$589,596▲ $62,837
Total Assets$7,871,341$8,230,589▲ $359,248
Other Assets Total$3,422,614$116,100▼ $3,306,514
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,666,112$1,519,194▼ $146,918
Deferred Revenue$563,493$1,387,998▲ $824,505
Accounts Payable and Accrued Expenses$500,569$908,879▲ $408,310
Other Liabilities$44,303$59,072▲ $14,769
Total Liabilities$2,774,477$3,875,143▲ $1,100,666
Net Assets / Fund Balance
Unrestricted Net Assets$5,096,864$4,355,446▼ $741,418
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$5,096,864$4,355,446▼ $741,418
Total Liabilities and Net Assets / Fund Balance$7,871,341$8,230,589▲ $359,248

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,075,290$2,466,072$5,541,362
Other Land Buildings$29,746-$29,746
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Samuel S ConnPresident and CEOFT$245,426$45,483$290,909
Edward ChapelSenior VP and COOFT$207,183$30,344$237,527
Bruce TyrellSenior Director, Prog. ServicesFT$188,786$15,610$204,396
Joseph ReardenCFOFT$122,518$60,247$182,765
Gregg ChottinerCIOFT$119,164-$119,164
Revenue and Support

Revenue Composition

Contributions and Grants
$531,191
Program Service Revenue
$9,590,887
Investment Income
$77,888
Other Revenue
$0
Change in Net Assets
$-741,418

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,199,966
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$10,199,966
Total Revenue per Form 990
$10,199,966
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,819,288
Salaries, Compensation, and Employee Benefits$3,122,096
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,243,233$400,997-$1,644,230
Fees for Services Other$1,227,325$172,345-$1,399,670
Current Officers, Directors, Trustees, and Key Employees$768,688$247,958-$1,016,646
Depreciation Depletion$814,898--$814,898
Conferences and Meetings$320,221--$320,221
Other Employee Benefits$182,273$58,793-$241,066
Occupancy$150,959--$150,959
Fees for Services Legal$128,993$18,114-$147,107
Office Expenses$97,173$47,600-$144,773
Payroll Taxes$99,546$32,109-$131,655
Pension Plan Contributions$66,916$21,583-$88,499
Other Expenses$82,529--$82,529
All Other Expenses$43,712$28,458-$72,170
Interest$43,258--$43,258
Travel$24,706$7,668-$32,374
Fees for Services Accounting$27,852$3,911-$31,763
Total Functional Expenses$9,901,848$1,039,536$0$10,941,384

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,941,384
Total Expenses per Audited Statements$10,941,384
Total Expenses per Form 990$10,941,384
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Equipment Purchase$59,072
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Njedge.net, inc. Has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is provided to the members of the organizations governing body for any comments prior to its submission. The governing body is provided with a reasonable amount of time to review the form 990. Any comments are then grouped, summarized and provided through management to the outside accounting firm. Any applicable issues are addressed prior to the return being finalized and approved for filing.

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

Njedge.net, inc. Currently has in place a conflict of interest policy which it regularly monitors and enforces. The board mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. If a potential or actual conflict of interest exists, the governing body and management will investigate the issue. If a conflict of interest is determined to exist management and the governing body will be notified immediately. The member will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time there is no longer a conflict.

Form 990, Part VI, Section B, Line 15

The compensation of the organizations officers or key employees is reviewed and approved by the board of trustees, an independent body.

Form 990, Part VI, Section C, Line 19

Njedge.net makes its form 990 available for public inspection as required under section 6104 of the internal revenue code upon written request at the foundations office at 625 broad street, suite 260, newark, nj 07102. In addition forms 1023 as well as the financial statements, and conflict of interest policy are available upon written request at the foundations office at 625 broad street, suite 260, newark, nj 07102.

Filing and Contact Details

Filer

Filer Name
Njedgenet Inc
EIN
22-3781807
Phone
9735965490
Address
625 BROAD STREET NO 260, NEWARK, NJ 07102

Signing Officer

Name
Samuel S Conn Phd
Title
President & CEO
Phone
9735965490
Signed
2020-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Samuel S Conn Phd
Formed
2001
Legal Domicile
Nj
Voting Board Members
24
Independent Board Members
24
Employees
2
Volunteers
0

Preparer

Firm
Nisivoccia Llp
Address
200 VALLEY RD SUITE 300, MT ARLINGTON, NJ 07856
Preparer
Thomas R Dartnell Cpapfs
Phone
9733281825
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional fees: program service expenses 1,227,325. Management and general expenses 172,345. Fundraising expenses 0. Total expenses 1,399,670.

Form 990 Part XII, Line 2C

No change from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization is a not-for-profit corporation that is exempt from income taxes under section 501(c)(3) of the internal revenue code and classified by the internal revenue service as other than a private foundation. The organization is also exempt under title 15 of the state of new jersey, corporations and organizations not-for-profit act. Accordingly, no provision for federal or state income tax has been presented in the accompanying financial statements. The organization follows the provisions of fasb asc income taxes. The standard prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition as they relate to those tax positions. The organization does not expect a significant increase or decrease to the total amounts of unrecognized tax positions during the year ended june 30, 2019. However, the organization is subject to audit by tax authorities, including a review of its nonprofit status which management believes would be upheld upon examination. The organization believes that it has appropriate support for the positions taken on its tax returns. Nonetheless, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year. As required by law, the organization files informational returns with both the federal and new jersey state governments on an annual basis - form 990 with the internal revenue service, and form cri-300r with the state. These returns are subject to examination by these authorities within certain statutorily defined periods from the latest filing date for federal and for new jersey.

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IRS990/Form990PartVIISectionAGrp/PersonNm3DR ANTHONY IACONO
IRS990/Form990PartVIISectionAGrp/PersonNm4DR JAMES BARR VON OEHSEN
IRS990/Form990PartVIISectionAGrp/PersonNm5DR FADI P DEEK
IRS990/Form990PartVIISectionAGrp/PersonNm6CANDACE FLEMING
IRS990/Form990PartVIISectionAGrp/PersonNm7DR MIRA LALOVIC-HAND
IRS990/Form990PartVIISectionAGrp/PersonNm8MICHELE NORIN
IRS990/Form990PartVIISectionAGrp/PersonNm9DR SHARON E BLANTON
IRS990/Form990PartVIISectionAGrp/PersonNm10DR MERODIE HANCOCK
IRS990/Form990PartVIISectionAGrp/PersonNm11DR SUSAN HENDERSON
IRS990/Form990PartVIISectionAGrp/PersonNm12DR HARVEY KESSELMAN
IRS990/Form990PartVIISectionAGrp/PersonNm13JOSEPH MARINELLO
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IRS990/Form990PartVIISectionAGrp/PersonNm16DR GREGORY O DELL'OMO
IRS990/Form990PartVIISectionAGrp/PersonNm17CAROL KONDRACH
IRS990/Form990PartVIISectionAGrp/PersonNm18DR JOSEPH MARBACH
IRS990/Form990PartVIISectionAGrp/PersonNm19DR MARIS LOWN
IRS990/Form990PartVIISectionAGrp/PersonNm20BRADLEY MORTON
IRS990/Form990PartVIISectionAGrp/PersonNm21DR DAVID STOUT
IRS990/Form990PartVIISectionAGrp/PersonNm22LEONARD DE BOTTON
IRS990/Form990PartVIISectionAGrp/PersonNm23KURT WAGNER
IRS990/Form990PartVIISectionAGrp/PersonNm24SAMUEL S CONN
IRS990/Form990PartVIISectionAGrp/PersonNm25EDWARD CHAPEL
IRS990/Form990PartVIISectionAGrp/PersonNm26JOSEPH REARDEN
IRS990/Form990PartVIISectionAGrp/PersonNm27GREGG CHOTTINER
IRS990/Form990PartVIISectionAGrp/PersonNm28BRUCE TYRELL
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24PRESIDENT AND CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt25SENIOR VP AND COO
IRS990/Form990PartVIISectionAGrp/TitleTxt26CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt27CIO
IRS990/Form990PartVIISectionAGrp/TitleTxt28SENIOR DIRECTOR, PROG. SERVICES
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02001
IRS990/FormerOfcrEmployeesListedInd00
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
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IRS990/LocalChaptersInd00
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt066916
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IRS990/PrincipalOfficerNm0SAMUEL S CONN PHD
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IRS990/PYBenefitsPaidToMembersAmt00
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.2$11.8$0.47$13.1$13.8$0.77
2023Detailed filing. Detailed filing data is available for this year.$10.6$9.40$1.24$11.8$12.7$0.92
2022Detailed filing. Detailed filing data is available for this year.$7.38$5.21$2.16$12.6$13.5$0.86
2021Detailed filing. Detailed filing data is available for this year.$7.36$4.33$3.03$11.4$12.2$0.82
2020Detailed filing. Detailed filing data is available for this year.$8.16$4.31$3.84$11.4$11.9$0.51
2019Detailed filing. Detailed filing data is available for this year.$8.23$3.88$4.36$10.2$10.9$0.74
2018Detailed filing. Detailed filing data is available for this year.$7.87$2.77$5.10$8.54$8.52$0.02
2017Detailed filing. Detailed filing data is available for this year.$8.38$3.30$5.08$8.10$7.68$0.43
2016Detailed filing. Detailed filing data is available for this year.$7.13$2.47$4.65$8.38$7.73$0.65
2015Detailed filing. Detailed filing data is available for this year.$6.99$3.35$3.64$8.33$8.60$0.27
2014Detailed filing. Detailed filing data is available for this year.$7.67$3.76$3.91$7.96$6.71$1.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.15$0.50$2.66$5.88
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.82$1.87$1.95$6.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.37$1.38$1.98$5.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$0.34$1.76$5.23