Civic Intelligence

Hope Through Education - a Fund for Better Futures Inc.

990 • Fiscal year 2020 • EIN 82-5117718

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 18, 2021

Organization ProfileWWW.HOPETHROUGHEDUCATIONUSA.ORG
One Pluckemin Way Suite 201Bedminster, NJ 07921

(732) 529-4117

Siviq Scores

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

Liabilities / Assets

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

2020 filings • NTEE A • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

22nd percentile

0.00x

Higher debt load relative to revenue than 22% of similar nonprofits.

2020 filings • NTEE A • $500k-$1M nonprofits • Source year 2020

Net Margin

34th percentile

-5.3%

Higher net margin than 34% of similar nonprofits.

2020 filings • NTEE A • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

69th percentile

$55,048

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2020 filings • NTEE A • $500k-$1M nonprofits • Source year 2020

Asset Growth

4th percentile

-34%

Faster asset growth than 4% of similar nonprofits.

2020 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

65th percentile

2.7%

Faster revenue growth than 65% of similar nonprofits.

2020 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets35th percentile

Assets

Down

$93,943

Down $47,740 (-34%) from 2019

Net Assets

Down

$92,270

Down $48,604 (-35%) from 2019

Liabilities

Up

$1,673

Up $864 (+107%) from 2019

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin34th percentile

Revenue

Up

$914,744

Up $23,966 (+2.7%) from 2019

Expenses

Up

$963,348

Up $104,605 (+12%) from 2019

Net Income

Down

-$48,604

Down $80,639 (-252%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$400K$300K$200K$100K$0Assets 2018: $110,821Liabilities 2018: $1,982Net Assets 2018: $108,8392018Assets 2019: $141,683Liabilities 2019: $809Net Assets 2019: $140,8742019Assets 2020: $93,943Liabilities 2020: $1,673Net Assets 2020: $92,2702020Assets 2021: $178,385Liabilities 2021: $5,962Net Assets 2021: $172,4232021Assets 2022: $338,037Liabilities 2022: $14,755Net Assets 2022: $323,2822022Assets 2023: $234,854Liabilities 2023: $41,707Net Assets 2023: $193,1472023Assets 2024: $399,477Liabilities 2024: $141,246Net Assets 2024: $258,2312024

Highlighted filing

2020

Assets$93,943
Liabilities$1,673
Net Assets$92,270
Open 2020 Filing

Operations Trend

Revenue Growth65th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $152,460Expenses 2018: $43,621Net Income 2018: $108,8392018Revenue 2019: $890,778Expenses 2019: $858,743Net Income 2019: $32,0352019Revenue 2020: $914,744Expenses 2020: $963,348Net Income 2020: -$48,6042020Revenue 2021: $999,690Expenses 2021: $919,537Net Income 2021: $80,1532021Revenue 2022: $1,106,699Expenses 2022: $953,340Net Income 2022: $153,3592022Revenue 2023: $1,136,136Expenses 2023: $1,266,271Net Income 2023: -$130,1352023Revenue 2024: $1,441,150Expenses 2024: $1,376,066Net Income 2024: $65,0842024

Highlighted filing

2020

Revenue$914,744
Expenses$963,348
Net Income-$48,604
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 18, 2021
Return Version
2020v4.1
Gross Receipts
$948,211
Mission and Program Overview

Mission

The organization's mission is to enable children of low-income families to acquire a quality, values-based education. The organization achieves its mission by providing scholarships to deserving families in hunterdon, middlesex, somerset and warren counties in new jersey.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$130,553$71,100▼ $59,453
Accounts Receivable$10,000$15,431▲ $5,431
Savings and Temporary Cash Investments-$6,475-
Land, Buildings, and Equipment, Net$1,130$937▼ $193
Total Assets$141,683$93,943▼ $47,740
Liabilities
Accounts Payable and Accrued Expenses$809$1,673▲ $864
Total Liabilities$809$1,673▲ $864
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$130,874$92,270▼ $38,604
Net Assets With Donor Restrictions$10,000$0▼ $10,000
Total Net Assets Fund Balance$140,874$92,270▼ $48,604
Total Liabilities and Net Assets / Fund Balance$141,683$93,943▼ $47,740

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$937$1,636$2,573
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tamara HemingwayExecutive Director (through March 2020)FT$51,923$3,125$55,048
Suzanne HumbertPresident as of March 2020FT$46,154-$46,154
Gregory AroneoTrustee-$18,000-$18,000

Board Members and Trustees

NameTitle
Fredrick ZiwotChairman
Christopher HowleyTrustee
Donna ShammoTrustee
Ellen AyoubTrustee
Eugene CordanoTrustee
Gloria LagrassaTrustee
Terry ConleyTrustee
Louis Tambaro EsqSecretary
Fran ShammoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$923,855
Program Service Revenue
$0
Investment Income
$10
Other Revenue
$-9,121
All Other Contributions
$855,130
Change in Net Assets
$-48,604

Audited Revenue Reconciliation

Revenue per Audited Statements
$948,211
Revenue Not Reported on Financial Statements
$-33,467
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-33,467
Total Revenue per Audited Statements
$948,211
Total Revenue per Form 990
$914,744
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$766,813
Salaries, Compensation, and Employee Benefits$133,128
Total Fundraising Expense$80,058
Other Expenses$63,407
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$766,813--$766,813
Current Officers, Directors, Trustees, and Key Employees$25,301$33,396$42,505$101,202
Fees for Services Other-$1,788$18,632$20,420
Other Salaries and Wages$4,230$5,585$7,106$16,921
Fees for Services Accounting-$16,545-$16,545
Payroll Taxes$3,570$4,712$5,998$14,280
Office Expenses-$12,843-$12,843
Advertising--$5,513$5,513
Occupancy-$2,000-$2,000
Insurance-$1,132-$1,132
Depreciation Depletion-$852-$852
Other Employee Benefits$182$239$304$725
Other Expenses-$638-$638
Total Functional Expenses$800,096$83,194$80,058$963,348

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$996,815
Expenses per Audited Statements$963,348
Total Expenses per Form 990$963,348
Expenses Not Reported on Form 990$33,467
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$33,467
Fundraising Gross Income$23,760
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Sporting Clay Event$16,525$13,285$3,442$9,843
Golf$57,020$10,475$3,654$6,821
Total Events$73,545$23,760$33,467$-9,707
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Greg AroneoBoard MemberConsulting WorkNo$18,000
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
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 A, Line 2

“Francis shammo and donna shammo are spouses.”

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

“The form 990 is provided to the organization's governing body. They review the form 990 and if there are any questions or concerns they are presented to the president. The president will review the questions or concerns and if there is action to take, speak with the auditors to resolve the questions or concerns.”

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

“All potential conflicts are handled in accordance with the policy as stated in article iv of the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public at our office, 146 metlars lane, piscataway, nj, during regular business hours.”

Filing and Contact Details

Filer

Filer Name
Hope Through Education -
EIN
82-5117718
Phone
7325294117
Address
ONE PLUCKEMIN WAY SUITE 201, BEDMINSTER, NJ 07921

Signing Officer

Name
Francis Shammo
Title
Treasurer
Phone
7325294117
Signed
2021-06-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Francis Shammo
Formed
2018
Legal Domicile
Nj
Voting Board Members
11
Independent Board Members
10
Employees
3
Volunteers
7

Preparer

Firm
SOBEL & CO LLC CPA'S
Address
293 EISENHOWER PARKWAY, LIVINGSTON, NJ 07039-1711
Preparer
Bridget Hartnett
Phone
9739949494
Supplemental Narrative

Additional Explanations

FORM 990, PART XII,LINE 2C:

“The oversight process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization is a nonprofit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code and, accordingly, is not liable for federal and state income taxes. The organization follows accounting standards that provide clarification on accounting for uncertainty in income taxes recognized in the organization's financial statements. The guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken, or expected to be taken, in a tax return, and also provides guidance on derecognition, classification, interest and penalties, disclosure and transition. The organization's policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense. No interest and penalties were recorded during the year ended december 31, 2020 and 2019. At december 31, 2020 and 2019, there are no significant income tax uncertainties.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Special event expenses -33,467.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special event expenses 33,467.”

Raw XML AppendixShowing 400 of 471 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/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt02000
IRS990/OccupancyGrp/TotalAmt02000
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt012843
IRS990/OfficeExpensesGrp/TotalAmt012843
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0304
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0239
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0182
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0725
IRS990/OtherExpensesGrp/Desc0OTHER COSTS & FEES
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/Desc2REGISTRATION FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02327
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11137
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2638
IRS990/OtherExpensesGrp/TotalAmt02327
IRS990/OtherExpensesGrp/TotalAmt11137
IRS990/OtherExpensesGrp/TotalAmt2638
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt0586
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0586
IRS990/OtherRevenueTotalAmt0586
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt07106
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt05585
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt04230
IRS990/OtherSalariesAndWagesGrp/TotalAmt016921
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt05998
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04712
IRS990/PayrollTaxesGrp/ProgramServicesAmt03570
IRS990/PayrollTaxesGrp/TotalAmt014280
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0FRANCIS SHAMMO
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0894773
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0741053
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt030743
IRS990/PYOtherRevenueAmt0-3995
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt032035
IRS990/PYSalariesCompEmpBnftPaidAmt086947
IRS990/PYTotalExpensesAmt0858743
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0890778
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-48604
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06475
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0923855
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0894773
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0155917
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01974545
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt010
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt010
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0586
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0586
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01974545
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0923855
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0894773
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0155917
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01974545
IRS990ScheduleA/TotalSupportAmt01975141
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/EquipmentGrp/BookValueAmt0937
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01636
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02573
IRS990ScheduleD/ExpensesNotReportedAmt033467
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0963348
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt033467
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-33467
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-33467
IRS990ScheduleD/RevenueSubtotalAmt0948211
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, IS NOT LIABLE FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION FOLLOWS ACCOUNTING STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN, OR EXPECTED TO BE TAKEN, IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEAR ENDED DECEMBER 31, 2020 AND 2019. AT DECEMBER 31, 2020 AND 2019, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPECIAL EVENT EXPENSES -33,467.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SPECIAL EVENT EXPENSES 33,467.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0937
IRS990ScheduleD/TotalExpensesPerForm990Amt0963348
IRS990ScheduleD/TotalRevenuePerForm990Amt0914744
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0948211
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0996815
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt049785
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt03240
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt046545
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt033467
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SPORTING CLAY EVENT
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0GOLF
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt016525
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt057020
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt073545
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt013285
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt010475
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt023760
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-9707
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt07096
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt03442
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt03654
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt01000
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent2Amt025371
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt026371
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0766813
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0385
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0CHILDREN WHO RECIEVE SCHOLARSHIPS THROUGH THE ORGANIZATION MUST MEET CERTAIN ELIGIBILITY REQUIREMENTS AND BE ENROLLED IN A PAROCHIAL OR PRIVATE SCHOOL. THE ORGANIZATION SENDS A VERIFICATION REPORT THAT LISTS THE STUDENTS WHO WILL RECEIVE A SCHOLARSHIP AND AMOUNT TO GIVE PAID ON BEHALF OF EACH STUDENT. THE SCHOOLS MUST VERIFY THAT THE STUDENTS ARE ENROLLED IN THE SCHOOL BEFORE FUNDS ARE SENT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0GREG ARONEO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt018000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONSULTING WORK
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FRANCIS SHAMMO AND DONNA SHAMMO ARE SPOUSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY. THEY REVIEW THE FORM 990 AND IF THERE ARE ANY QUESTIONS OR CONCERNS THEY ARE PRESENTED TO THE PRESIDENT. THE PRESIDENT WILL REVIEW THE QUESTIONS OR CONCERNS AND IF THERE IS ACTION TO TAKE, SPEAK WITH THE AUDITORS TO RESOLVE THE QUESTIONS OR CONCERNS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL POTENTIAL CONFLICTS ARE HANDLED IN ACCORDANCE WITH THE POLICY AS STATED IN ARTICLE IV OF THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AT OUR OFFICE, 146 METLARS LANE, PISCATAWAY, NJ, DURING REGULAR BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII,LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0141683
IRS990/TotalAssetsEOYAmt093943
IRS990/TotalAssetsGrp/BOYAmt0141683
IRS990/TotalAssetsGrp/EOYAmt093943

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$93,943
Liabilities
$1,673
Net assets
$92,270
Revenue
$914,744
Expenses
$963,348
Net income
-$48,604
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.40$0.14$0.26$1.44$1.38$0.07
2023Detailed filing. Detailed filing data is available for this year.$0.23$0.04$0.19$1.14$1.27$0.13
2022Detailed filing. Detailed filing data is available for this year.$0.34$0.01$0.32$1.11$0.95$0.15
2021Detailed filing. Detailed filing data is available for this year.$0.18$0.01$0.17$1.00$0.92$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.91$0.96$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.89$0.86$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.15$0.04$0.11