Civic Intelligence

Foundation for Newark'S Future Inc

990 • Fiscal year 2013 • EIN 27-3453412

Jan 01, 2013 to Dec 31, 2013 • Filed on Oct 17, 2014

Organization ProfileWWW.FOUNDATIONFORNEWARKSFUTURE.ORG
60 Park Place No 60407102

(973) 639-1600

Siviq Scores

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

Liabilities / Assets

65th percentile

0.42x

Higher debt load relative to assets than 65% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

59th percentile

0.37x

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

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Net Margin

8th percentile

-31%

Higher net margin than 8% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

74th percentile

$260,765

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Asset Growth

10th percentile

-7.5%

Faster asset growth than 10% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$9,938,171

Down $809,568 (-7.5%) from 2012

Net Assets

Down

$5,758,885

Down $3,489,934 (-38%) from 2012

Liabilities

Up

$4,179,286

Up $2,680,366 (+179%) from 2012

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin8th percentile

Revenue

$11,419,568

No earlier filing loaded for comparison.

Expenses

Down

$14,909,502

Down $21,693,112 (-59%) from 2012

Net Income

-$3,489,934

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$15M$10M$5.0M$0Assets 2011: $3,859,281Liabilities 2011: $657,384Net Assets 2011: $3,201,8972011Assets 2012: $10,747,739Liabilities 2012: $1,498,920Net Assets 2012: $9,248,8192012Assets 2013: $9,938,171Liabilities 2013: $4,179,286Net Assets 2013: $5,758,8852013Assets 2014: $4,689,503Liabilities 2014: $533,938Net Assets 2014: $4,155,5652014Assets 2015: $6,183,327Liabilities 2015: $4,011,329Net Assets 2015: $2,171,9982015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2013

Assets$9,938,171
Liabilities$4,179,286
Net Assets$5,758,885
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$40M$20M$0-$20MExpenses 2011: $9,826,7302011Expenses 2012: $36,602,6142012Revenue 2013: $11,419,568Expenses 2013: $14,909,502Net Income 2013: -$3,489,9342013Revenue 2014: $8,177,851Expenses 2014: $9,781,171Net Income 2014: -$1,603,3202014Revenue 2015: $14,772,826Expenses 2015: $16,756,393Net Income 2015: -$1,983,5672015Revenue 2016: $4,276,998Expenses 2016: $5,018,661Net Income 2016: -$741,6632016

Highlighted filing

2013

Revenue$11,419,568
Expenses$14,909,502
Net Income-$3,489,934
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Oct 17, 2014
Return Version
2013v3.0
Gross Receipts
$11,419,568
Mission and Program Overview

Mission

To create a foundation for systematic educational reform within newark,nj that results in demonstrable high academic and developmental achievement for all youth.

To create a foundation for systemic educational reform within newark, nj.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,582,527$7,550,766▲ $2,968,239
Pledges and Grants Receivable$5,670,402$1,890,957▼ $3,779,445
Cash and Non-Interest-Bearing Accounts$451,784$471,910▲ $20,126
Land, Buildings, and Equipment, Net$31,617$15,197▼ $16,420
Prepaid Expenses and Deferred Charges$11,409$9,341▼ $2,068
Total Assets$10,747,739$9,938,171▼ $809,568
Liabilities
Grants Payable-$3,397,622-
Accounts Payable and Accrued Expenses$1,498,920$781,664▼ $717,256
Total Liabilities$1,498,920$4,179,286▲ $2,680,366
Net Assets / Fund Balance
Temporarily Rstr Net Assets$9,879,495$4,007,206▼ $5,872,289
Unrestricted Net Assets$-630,676$1,751,679▲ $2,382,355
Total Net Assets Fund Balance$9,248,819$5,758,885▼ $3,489,934
Total Liabilities and Net Assets / Fund Balance$10,747,739$9,938,171▼ $809,568

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,469$35,235$49,704
Leasehold Improvements$728$1,772$2,500

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$9,879,495$3,076,007-$654,100$4,007,206
2012$1,747,027$9,456,778--$9,879,495
2011$0$1,747,027--$1,747,027
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kimberly MclainPresident & CEOFT$214,259$46,506$260,765
Greg TaylorPresident & CEO (thru March 2013)FT$128,785$31,694$160,479

Board Members and Trustees

NameTitle
Paul BernsteinChair
Dr Robert JohnsonTrustee
Enrico GagliotiTrustee
Jennifer HolleranTrustee
Senator Cory BookerTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Hogan Lovells US LLPLegal Support For Grantmaking-$170,573
The Parthenon GroupCity-wide Coordination-$150,000
-Newark Public Schools Consulting-$130,284
Revenue and Support

Revenue Composition

Contributions and Grants
$11,417,880
Program Service Revenue
$0
Investment Income
$1,688
Other Revenue
$0
All Other Contributions
$11,417,880
Change in Net Assets
$-3,489,934

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,419,568
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$28,988
Total Revenue per Audited Statements
$11,448,556
Total Revenue per Form 990
$11,419,568
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$13,043,282
Other Expenses$1,042,048
Salaries, Compensation, and Employee Benefits$824,172
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$12,758,785--$12,758,785
Current Officers, Directors, Trustees, and Key Employees$126,373$294,871-$421,244
Fees for Services Other$332,150$35,887-$368,037
Other Salaries and Wages$85,457$199,399-$284,856
Grants to Domestic Individuals$284,497--$284,497
Fees for Services Legal$240,347--$240,347
Fees for Services Accounting-$112,760-$112,760
Advertising-$106,265-$106,265
Occupancy-$89,990-$89,990
Other Employee Benefits$15,809$36,887-$52,696
Payroll Taxes$15,043$35,099-$50,142
Travel-$45,731-$45,731
Office Expenses-$29,562-$29,562
Information Technology-$23,442-$23,442
Pension Plan Contributions$4,570$10,664-$15,234
Depreciation Depletion-$12,671-$12,671
Insurance-$4,710-$4,710
Other Expenses-$1,466-$1,466
Total Functional Expenses$13,863,031$1,046,471$0$14,909,502

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$14,938,490
Expenses per Audited Statements$14,909,502
Total Expenses per Form 990$14,909,502
Expenses Not Reported on Form 990$28,988
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
22-6002140-501(c)(3)Funding for Various Components of the Collective Bargaining Agreement Between Nps and Ntu.$8,542,738
13-3850158-501(c)(3)To Support the Implementation of a Teacher Evaluation System, Development of Professional Development Resources, and Identification of Policies and Practices to Enable Nps to Have a High Quality Teaching Force.$500,000
20-0965767-501(c)(3)To Administer Expanded Learning Time (elt) Programs at 4 Newark Public Schools--providing a Total of Nearly 1,000 Students With Academic and Enrichment Programming After the Traditional School Day and to Support My Very Own Library.$465,000
38-3663314-501(c)(3)Contribution to the Pooled Support Fund, Which Supports Various Nps School Models in Newark.$365,000
22-2281783-501(c)(3)Two Rounds of Funding (2012-2013 and 2013-14) for Direct Grants to Teacher Teams to Implement Innovative Programs in Their Schools.$273,486
20-1532382-501(c)(3)TO SUPPORT THE SCHOOL, WHICH EDUCATES BOYS IN GRADES 6-12. EAGLE'S MISSION IS TO PROMOTE ACADEMIC EXCELLENCE AND CHARACTER DEVELOPMENT IN A SINGLE-SEX COMMUNITY FOR NEWARK'S YOUNG MEN THROUGH A RIGOROUS, COLLEGE-PREPARATORY MIDDLE AND HIGH SCHOOL CURRICULUM.$250,000
26-2224940-501(c)(3)Support for the 2013-2014 School Year to Grow High Quality Charter Schools While Facilitating and Improving District-charter Collaboration.$212,500
04-3519203-501(c)(3)Support for New Leaders to Work With Nps on Facilitating and Fostering Principal Effectiveness.$200,000
42-1704113-501(c)(3)To Support the Design and Implementation of an Open High School Enrollment System for Newark Public Schools.$186,000
94-3222960-501(c)(3)To Provide Coaching and Mentoring to a Variety of Newark Leaders on Best Practices in Authentically Engaging the Community on Both Education and Neighborhood Initiatives.$175,000
52-2007028-501(c)(3)Support for the Implementation of College Access Programming to Prepare High School Students in Newark for College and Career.$171,288
77-0602311-501(c)(3)To Place Up to 30 Graduate Fellows Per Summer in Various Newark Organizations in an Effort for Them to Gain Skills, Contribute to the Non-profit Sector and Consider Full-time Service to Newark.$115,500
22-6017209-501(c)(3)Support of New Teacher Induction Program for Teaching Residents in Their First Three (3) Years of Teaching.$101,643
27-0820249-501(c)(3)To Establish a Pre-k to 3rd Grade Literacy Initiative at Peshine and Avon Schools That Seeks to Ensure Children Are at Reading Level by Third Grade.$100,000
04-3262046-501(c)(3)TO PROVIDE PLANNING AND SCALE UP FUNDS NECESSARY TO BRING THEIR EARLY LEARNING MODEL TO NEWARK'S SOUTH WARD.$100,000
26-0060754-501(c)(3)Support of a College Access After-school Program at Barringer, East Side and Weequahic High Schools That Advances Personal and Academic Growth by Helping Students Gain Acceptance While Preparing Them for College.$80,000
27-3837303-501(c)(3)To Support the Parent Academies of Ireform, a New Organization Founded to Educate, Empower and Mobilize Newark Parents and Community Members to Support Bold Changes That Will Ensure a High Quality Education for Their Children.$75,000
22-2368489-501(c)(3)To Support the Coordination and Alignment of Efforts Underway in Newark Related to Education Reform, Early Learning, Youth Development, and the Promotion of Strong Families and Neighborhoods.$60,000
22-1861903-501(c)(3)TO SUPPORT THE IMPLEMENTATION, CODIFICATION, AND DISSEMINATION OF THE ST. BENEDICT'S PREP STUDENT LEADERSHIP MODEL THAT WILL BECOME A GUIDE FOR OTHER SCHOOLS ASPIRING TO ESTABLISH A POSITIVE CULTURE AND STUDENT EMPOWERMENT.$50,000
22-2962532-501(c)(3)Support for the Implementation of Peer Group Connection, a Peer-mentoring Program, in 3 Newark High Schools (east Side, West Side, and Science Park) Designed to Support Successful Transition of 9th Grade Students From Middle School to High School.$30,000
22-3470235-501(c)(3)To Support the Operation of the Office of the Newark Philanthropic Liaison, a Partnership Between the City of Newark and the Council of New Jersey Grantmakers, in Concert With Other Funders.$30,000
13-3297197-501(c)(3)A Planning Grant to Explore the Feasibility of an Extended Website for Parents to Review Schools, Obtain Information, and Provide Feedback on Their Experiences.$30,000
45-5092471-501(c)(3)Startup Funding for a New Organization Designed to Provide a Collective Support Network to the Many Mentoring Programs in Newark.$20,000
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
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“A committee of the board reviews the draft of the 990 in conjunction with management. Once any questions and issues have been resolved, the 990 is finalized by the audit firm and presented to the board for final review and approval. Upon review and approval by a majority of board members, the 990 is adopted and filed with the irs.”

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

“Each board member of the governing board shall annually sign a statement which affirms such person has received a copy of the conflict of interest policy, has read and understands the policy and agrees to comply with the policy. The president & ceo monitored the conflict of interest policy and collected the annual statements.”

Form 990, Part VI, Section B, Line 15

“Salaries for officers and key employees are set by reviewing benchmark data and other relevant comparable data points, and through discussion with external search firms where applicable. Once a recommendation is formulated, it is presented to the board for review and final approval. The board also annually reviews and approves the operating budget which includes salaries and employee benefits.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and audited finanical statements available to the public upon request via direction to guidestar or via hard copy if requested.”

FORM 990, PART VI, SECTION B, LINE 13:

“The organization is creating a whistleblower policy and expects to implement this policy by the end of 2014.”

FORM 990, PART VI, SECTION B, LINE 14:

“The organization is creating a document retention and destruction policy and expects to implement this policy by the end of 2014.”

Filing and Contact Details

Filer

EIN
27-3453412
Phone
9736391600

Signing Officer

Name
Kimberly Mclain
Title
President & CEO
Phone
9736391600
Signed
2014-10-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kimberly Mclain
Formed
2010
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
5
Employees
9
Volunteers
5

Preparer

Preparer
Julius Green CPA
Phone
2159720701
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“The decline in grantmaking year-on-year for fnf is due to the newark public school collective bargaining labor agreement that fnf is funding. In 2012, there was a one-time payment of over $30 million in relation to the contract, which increased our grant activity as compared to 2013.”

Financial Statement Notes

PART V, LINE 4:

“Certain funding to the foundation is temporarily restricted and reserved for specific programming purposes. The organization keeps these funds restricted until they are needed for their intended purpose.”

PART X, LINE 2:

“The foundation accounts for uncertainty in income taxes recognized in the financial statements using a recognition threshold of more likely than not as to whether the uncertainty will be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. Management determined there were no tax uncertainties that met the recognition threshold. Currently, all of the foundation's federal exempt organization returns are subject to examination by the internal revenue service.”

Raw XML AppendixShowing 400 of 713 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT & CEO (THRU MARCH 2013)
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02010
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GrantAmt010125263
IRS990/GrantsPayableGrp/EOYAmt03397622
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt0284497
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0284497
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt012758785
IRS990/GrantsToDomesticOrgsGrp/TotalAmt012758785
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt011419568
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt023442
IRS990/InformationTechnologyGrp/TotalAmt023442
IRS990/InsuranceGrp/ManagementAndGeneralAmt04710
IRS990/InsuranceGrp/TotalAmt04710
IRS990/InvestmentIncomeGrp/ExclusionAmt01688
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01688
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt023
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt037007
IRS990/LandBldgEquipBasisNetGrp/BOYAmt031617
IRS990/LandBldgEquipBasisNetGrp/EOYAmt015197
IRS990/LandBldgEquipCostOrOtherBssAmt052204
IRS990/LegalDomicileStateCd0NJ
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO CREATE A FOUNDATION FOR SYSTEMIC EDUCATIONAL REFORM WITHIN NEWARK, NJ THAT RESULTS IN DEMONSTRABLE HIGH ACADEMIC AND DEVELOPMENTAL ACHIEVEMENT FOR ALL YOUTH.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt09248819
IRS990/NetAssetsOrFundBalancesEOYAmt05758885
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt089990
IRS990/OccupancyGrp/TotalAmt089990
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt029562
IRS990/OfficeExpensesGrp/TotalAmt029562
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt036887
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt015809
IRS990/OtherEmployeeBenefitsGrp/TotalAmt052696
IRS990/OtherExpensesGrp/Desc0DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07067
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11466
IRS990/OtherExpensesGrp/TotalAmt07067
IRS990/OtherExpensesGrp/TotalAmt11466
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0199399
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt085457
IRS990/OtherSalariesAndWagesGrp/TotalAmt0284856
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt035099
IRS990/PayrollTaxesGrp/ProgramServicesAmt015043
IRS990/PayrollTaxesGrp/TotalAmt050142
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt010664
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt04570
IRS990/PensionPlanContributionsGrp/TotalAmt015234
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt05670402
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01890957
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt011409
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09341
IRS990/PrincipalOfficerNm0KIMBERLY MCLAIN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0SCHOOL OPTIONS AND INNOVATIONS: THE ORGANIZATION SUPPORTS A VARIETY OF SCHOOL MODELS IN THE DISTRICT AND CHARTER SECTORS IN NEWARK. INVESTMENTS INCLUDE START-UP FUNDING AS WELL AS GRANTS FOR INNOVATIVE PROGRAMMING DESIGNED TO IMPROVE EXISTING SCHOOLS. THE FOUNDATION ALSO SUPPORTS VARIOUS EXTENDED LEARNING TIME PROJECTS ACROSS THE DISTRICT SCHOOLS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01312802
IRS990/ProgSrvcAccomActy2Grp/GrantAmt01289388
IRS990/ProgSrvcAccomActy3Grp/Desc0CITYWIDE PLANNING AND COORDINATION: THE FOUNDATION SPENDS A SIGNIFICANT AMOUNT OF RESOURCES WORKING IN PARTNERSHIP WITH VARIOUS EDUCATION ENTITIES AND STAKEHOLDERS IN A COLLECTIVE EFFORT TO IMPROVE THE CITY'S EDUCATIONAL SYSTEM.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01026814
IRS990/ProgSrvcAccomActy3Grp/GrantAmt0858500
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAMS. OTHER STRATEGIC PRIORITIES FOR THE FOUNDATION INCLUDE EARLY CHILDHOOD EDUCATION, COMMUNITY ENGAGEMENT AND BUILDING, AND NEWARK PUBLIC SCHOOLS OPERATING EXCELLENCE.EARLY CHILDHOOD EDUCATION GOALS INCLUDE PARTNERING WITH LOCAL FOUNDATIONS TO COLLECTIVELY INVEST IN INITIATIVES THAT WILL PRODUCE SYSTEMIC, SUSTAINABLE CHANGES AND IMPROVEMENTS FOR THE INFANT, TODDLER AND PRE-K STUDENTS, WHICH ARE THE FOUNDATION FOR THE K-12 SCHOOL SYSTEM.THE COMMUNITY ENGAGEMENT AND BUILDING PROGRAM AREA INVOLVES WORKING WITH CITY LEADERS, PARENTS AND/OR FAMILIES ON COMMON GOALS AND EDUCATIONAL OUTCOMES FOR THE CITY'S KIDS. IT ALSO INCLUDES WORKING WITH FAMILIES AND COMMUNITIES ON EDUCATION ACTIVITIES.NEWARK PUBLIC SCHOOLS OPERATING EXCELLENCE: THE FOUNDATION FOR NEWARK'S FUTURE PROVIDED A NUMBER OF RESOURCES TO NEWARK PUBLIC SCHOOLS TO ENABLE THE SUPERINTENDENT TO PURSUE THE STRATEGIC PRIORITIES SHE DESIGNATED AS CRITICAL TO BUILD A FOUNDATION FOR DISTRICT TRANSFORMATION, HIGH QUALITY SCHOOLS, AND POSITIVE STUDENT OUTCOMES. FNF'S NPS OPERATING EXCELLENCE PROGRAM ENABLED THE SUPERINTENDENT TO RECRUIT AND SELECT INDIVIDUALS AND ENTITIES ON A SHORT-TERM, PROJECT-BASED BASIS TO WORK ON TASKS THAT COULD NOT GENERALLY BE FUNDED BY EXISTING PUBLIC FUNDS AND WERE DESIGNED TO MAKE THE CENTRAL OFFICE AND DISTRICT ADMINISTRATION AT LARGE A WORLD-CLASS, 21ST CENTURY SYSTEM THAT FOSTERS SUCCESS FOR STUDENTS AND SUPPORT FOR PARENTS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0948909
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt0770131
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt042648531
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt034500114
IRS990/PYInvestmentIncomeAmt01005
IRS990/PYOtherExpensesAmt01022104
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt06046922
IRS990/PYSalariesCompEmpBnftPaidAmt01080396
IRS990/PYTotalExpensesAmt036602614
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt042649536
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-3489934
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04582527
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07550766
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/Form990ScheduleAPartIVGrp/ExplanationTxt0THE ORGANIZATION'S FIRST YEAR OF EXISTENCE WAS A SHORT YEAR. THE ORGANIZATION WAS INCORPORATED ON JULY 26, 2010. THE 2010 TAX YEAR RAN FROM THE DATE OF INCORPORATION OF JULY 26, 2010 THROUGH DECEMBER 31, 2010.
IRS990ScheduleA/Form990ScheduleAPartIVGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt011417880
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt042648530
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt012499871
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02356736
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt068923017
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01688
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01005
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0356
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt015
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt03064
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt013194816
IRS990ScheduleA/SubstantialContributorsTotAmt055728201
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt011417880
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt042648530
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt012499871
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02356736
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt068923017
IRS990ScheduleA/TotalSupportAmt068926081
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt09879495
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt03076007
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt04007206
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt08294196
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0654100
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01747027
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt09456778
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt09879495
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt01324310
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt01747027
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01747027
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt028988
IRS990ScheduleD/DonatedServicesUseFcltsAmt028988
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt014469
IRS990ScheduleD/EquipmentGrp/DepreciationAmt035235
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt049704
IRS990ScheduleD/ExpensesNotReportedAmt028988
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt014909502
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0728
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01772
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt02500
IRS990ScheduleD/RevenueNotReportedAmt028988
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt011419568
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CERTAIN FUNDING TO THE FOUNDATION IS TEMPORARILY RESTRICTED AND RESERVED FOR SPECIFIC PROGRAMMING PURPOSES. THE ORGANIZATION KEEPS THESE FUNDS RESTRICTED UNTIL THEY ARE NEEDED FOR THEIR INTENDED PURPOSE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE FINANCIAL STATEMENTS USING A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT AS TO WHETHER THE UNCERTAINTY WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD. CURRENTLY, ALL OF THE FOUNDATION'S FEDERAL EXEMPT ORGANIZATION RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015197
IRS990ScheduleD/TotalExpensesPerForm990Amt014909502
IRS990ScheduleD/TotalRevenuePerForm990Amt011419568
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011448556
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt014938490
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0VARIOUS - MY VERY OWN LIBRARY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt0284497
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0A RESEARCH-BASED NEWARK LITERACY INITIATIVE THAT PROVIDES STUDENTS THE OPPORTUNITY TO RECEIVE 10 NEW, FREE BOOKS THROUGHOUT THE SCHOOL YEAR.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt012000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/CashGrantAmt1171288
IRS990ScheduleI/RecipientTable/CashGrantAmt2273486
IRS990ScheduleI/RecipientTable/CashGrantAmt3115500
IRS990ScheduleI/RecipientTable/CashGrantAmt4465000
IRS990ScheduleI/RecipientTable/CashGrantAmt5200000
IRS990ScheduleI/RecipientTable/CashGrantAmt68542738
IRS990ScheduleI/RecipientTable/CashGrantAmt730000
IRS990ScheduleI/RecipientTable/CashGrantAmt830000
IRS990ScheduleI/RecipientTable/CashGrantAmt9250000
IRS990ScheduleI/RecipientTable/CashGrantAmt1060000
IRS990ScheduleI/RecipientTable/CashGrantAmt11186000
IRS990ScheduleI/RecipientTable/CashGrantAmt1275000
IRS990ScheduleI/RecipientTable/CashGrantAmt13100000
IRS990ScheduleI/RecipientTable/CashGrantAmt14101643
IRS990ScheduleI/RecipientTable/CashGrantAmt15212500
IRS990ScheduleI/RecipientTable/CashGrantAmt1620000
IRS990ScheduleI/RecipientTable/CashGrantAmt17365000
IRS990ScheduleI/RecipientTable/CashGrantAmt1850000
IRS990ScheduleI/RecipientTable/CashGrantAmt19175000
IRS990ScheduleI/RecipientTable/CashGrantAmt2030000
IRS990ScheduleI/RecipientTable/CashGrantAmt21500000
IRS990ScheduleI/RecipientTable/CashGrantAmt2280000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc5501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc6501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc7501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc8501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc9501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc10501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc11501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc12501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc13501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc14501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc15501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc16501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc17501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc18501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc19501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc20501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc21501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc22501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO ESTABLISH A PRE-K TO 3RD GRADE LITERACY INITIATIVE AT PESHINE AND AVON SCHOOLS THAT SEEKS TO ENSURE CHILDREN ARE AT READING LEVEL BY THIRD GRADE.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SUPPORT FOR THE IMPLEMENTATION OF COLLEGE ACCESS PROGRAMMING TO PREPARE HIGH SCHOOL STUDENTS IN NEWARK FOR COLLEGE AND CAREER.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TWO ROUNDS OF FUNDING (2012-2013 AND 2013-14) FOR DIRECT GRANTS TO TEACHER TEAMS TO IMPLEMENT INNOVATIVE PROGRAMS IN THEIR SCHOOLS.

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,938,171
Liabilities
$4,179,286
Net assets
$5,758,885
Revenue
$11,419,568
Expenses
$14,909,502
Net income
-$3,489,934
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$4.28$5.02$0.74
2015Detailed filing. Detailed filing data is available for this year.$6.18$4.01$2.17$14.8$16.8$1.98
2014Detailed filing. Detailed filing data is available for this year.$4.69$0.53$4.16$8.18$9.78$1.60
2013Detailed filing. Detailed filing data is available for this year.$9.94$4.18$5.76$11.4$14.9$3.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$1.50$9.25$36.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.86$0.66$3.20$9.83