Expenses exceeded revenue in the most recent fiscal year (2023), leading to a deficit.
Unusually consistent 0% officer compensation across all filings, which might obscure how leadership is supported or compensated.
Strengths
Significant and consistent asset growth over the past five years, indicating strong financial management and capacity building.
No reported officer compensation, suggesting a high dedication of funds to mission-related activities.
Strong revenue growth trend from 2019 to 2022, demonstrating increasing support and operational scale.
Healthy asset base ($5,090,503 in 2023) provides financial stability and capacity for future programs.
Spending Breakdown
How Greater Newark Enterprises Corporation allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Greater Newark Enterprises Corporation
Is Greater Newark Enterprises Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Greater Newark Enterprises Corporation (EIN: 202247312) appears trustworthy. Mission Score: 88/100. 2 red flags identified, 4 strengths noted.
Is Greater Newark Enterprises Corporation a good charity to donate to?
Greater Newark Enterprises Corporation has a Mission Score of 88/100. Revenue: $2.9M. Assets: $7.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Greater Newark Enterprises Corporation?
The Employer Identification Number (EIN) for Greater Newark Enterprises Corporation is 202247312. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Greater Newark Enterprises Corporation spend its money?
Greater Newark Enterprises Corporation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Greater Newark Enterprises Corporation's tax-exempt status?
You can verify Greater Newark Enterprises Corporation's tax-exempt status using EIN 202247312 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Greater Newark Enterprises Corporation (GNEC) demonstrates a generally positive financial trajectory, with significant growth in revenue and assets over the past five years. For instance, revenue surged from $459,547 in 2019 to $1,635,461 in 2023, and assets grew from $865,498 to $5,090,503 in the same period. This growth indicates increasing capacity and impact. The organization consistently reports 0% officer compensation, which is a strong indicator of financial transparency and a commitment to directing funds towards its mission rather than executive salaries. While the 2023 filing shows expenses exceeding revenue ($1,793,174 vs. $1,635,461), this appears to be an anomaly in recent years, as previous periods often showed revenue significantly outpacing expenses, contributing to asset growth. The NTEE code S43 (Community Development Financial Institutions) suggests a focus on economic development, and the financial data supports an organization actively managing and growing its resources to fulfill this mission.