Greater Newark Enterprises Corporation
Greater Newark Enterprises Corporation shows strong asset growth and no reported officer compensation, despite a recent deficit.
EIN: 202247312 · Newark, NJ · NTEE: S43 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.9M |
| Total Expenses | $1.8M |
| Program Spending | 85% |
| Net Assets | $4.2M |
| Transparency Score | 88/100 |
Is Greater Newark Enterprises Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Newark Enterprises Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Greater Newark Enterprises Corporation
Greater Newark Enterprises Corporation (EIN: 202247312) is a nonprofit organization based in Newark, NJ, classified under NTEE code S43. The organization reported total revenue of $2.9M and total assets of $7.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Newark Enterprises Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Newark Enterprises Corporation is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-157,713 |
| Total Assets | $5.1M |
| Total Liabilities | $856K |
| Net Assets | $4.2M |
| Operating Margin | -9.6% |
| Debt-to-Asset Ratio | 16.8% |
| Months of Reserves | 34.1 months |
Financial Health Grade: B
In 2023, Greater Newark Enterprises Corporation reported a deficit of $158K with expenses exceeding revenue, holds 34.1 months of operating reserves (strong position), has a debt-to-asset ratio of 16.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Greater Newark Enterprises Corporation's revenue has grown at a compound annual growth rate (CAGR) of 10.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -30.3% | +24.3% | -0.9% |
| 2022 | -17.8% | +68.4% | +34.3% |
| 2021 | +82.1% | +34.4% | +100.3% |
| 2020 | +241.4% | +3.5% | +120.7% |
| 2019 | -43.7% | +0.4% | -17.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greater Newark Enterprises Corporation with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Greater Newark Enterprises Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $158K, with expenses exceeding revenue.
- Debt-to-asset ratio: 16.8%.
Executive Compensation Analysis
Greater Newark Enterprises Corporation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual and suggests a volunteer-led or externally funded leadership structure, or that compensation is reported under other categories.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Greater Newark Enterprises Corporation's IRS 990 filings:
- 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
The following positive indicators were identified for Greater Newark Enterprises Corporation:
- 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.
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) some concerns. Mission Score: 88/100. 2 red flags identified, 4 strengths noted.
How does Greater Newark Enterprises Corporation spend its money?
Greater Newark Enterprises Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Greater Newark Enterprises Corporation tax-deductible?
Greater Newark Enterprises Corporation is registered as a tax-exempt nonprofit (EIN: 202247312). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Greater Newark Enterprises Corporation's spending goes to programs?
Greater Newark Enterprises Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Greater Newark Enterprises Corporation compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Greater Newark Enterprises Corporation is above average for NTEE category S43 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Greater Newark Enterprises Corporation located?
Greater Newark Enterprises Corporation is headquartered in Newark, New Jersey and files with the IRS under EIN 202247312. It is classified under NTEE code S43.
How many years of IRS 990 filings does Greater Newark Enterprises Corporation have?
Greater Newark Enterprises Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.9M in total revenue.
How does Greater Newark Enterprises Corporation sustain its operations without officer compensation?
The consistent reporting of 0% officer compensation suggests that leadership may be volunteer-based, compensated through other means not classified as 'officer compensation' on the 990, or that the organization relies heavily on external support for leadership roles. Further investigation into their operational model would be beneficial.
What caused the significant increase in expenses over revenue in the 2023 fiscal year?
In 2023, expenses ($1,793,174) exceeded revenue ($1,635,461) by $157,713. This contrasts with previous years where revenue often significantly outpaced expenses, contributing to asset growth. This could be due to strategic investments, one-time expenditures, or increased program delivery costs. It warrants closer examination of the detailed expense breakdown in the full 990.
What is the nature of the liabilities reported, especially the increase in 2023?
Liabilities increased from $743,588 in 2022 to $855,763 in 2023. Understanding the composition of these liabilities (e.g., program-related investments, loans, accounts payable) is crucial for assessing financial risk and operational stability, especially in conjunction with the 2023 deficit.
Filing History
IRS 990 filing history for Greater Newark Enterprises Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Greater Newark Enterprises Corporation's revenue has grown by 240.9%, moving from $480K to $1.6M. Total assets increased by 839.8% over the same period, from $542K to $5.1M. Total functional expenses rose by 341.2%, from $406K to $1.8M. In its most recent filing year (2023), Greater Newark Enterprises Corporation reported a deficit of $158K, with expenses exceeding revenue. The organization holds $856K in liabilities against $5.1M in assets (debt-to-asset ratio: 16.8%), resulting in net assets of $4.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.8M | $5.1M | $856K | — | View 990 |
| 2022 | $2.3M | $1.4M | $5.1M | $744K | — | View 990 |
| 2021 | $2.9M | $857K | $3.8M | $338K | — | View 990 |
| 2020 | $1.6M | $637K | $1.9M | $423K | — | — |
| 2019 | $460K | $616K | $865K | $310K | — | View 990 |
| 2018 | $817K | $613K | $1.0M | $333K | — | View 990 |
| 2017 | $809K | $504K | $1.3M | $758K | — | View 990 |
| 2016 | $561K | $549K | $1.0M | $814K | — | View 990 |
| 2015 | $542K | $504K | $1.1M | $873K | — | View 990 |
| 2014 | $537K | $591K | $1.1M | $915K | — | View 990 |
| 2013 | $500K | $562K | $1.0M | $797K | — | View 990 |
| 2012 | $645K | $573K | $1.1M | $808K | — | View 990 |
| 2011 | $480K | $406K | $542K | $343K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.8M, and assets of $5.1M (revenue -30.3% year-over-year).
- 2022: Revenue of $2.3M, expenses of $1.4M, and assets of $5.1M (revenue -17.8% year-over-year).
- 2021: Revenue of $2.9M, expenses of $857K, and assets of $3.8M (revenue +82.1% year-over-year).
- 2020: Revenue of $1.6M, expenses of $637K, and assets of $1.9M (revenue +241.4% year-over-year).
- 2019: Revenue of $460K, expenses of $616K, and assets of $865K (revenue -43.7% year-over-year).
- 2018: Revenue of $817K, expenses of $613K, and assets of $1.0M (revenue +1.0% year-over-year).
- 2017: Revenue of $809K, expenses of $504K, and assets of $1.3M (revenue +44.3% year-over-year).
- 2016: Revenue of $561K, expenses of $549K, and assets of $1.0M (revenue +3.4% year-over-year).
- 2015: Revenue of $542K, expenses of $504K, and assets of $1.1M (revenue +0.9% year-over-year).
- 2014: Revenue of $537K, expenses of $591K, and assets of $1.1M (revenue +7.5% year-over-year).
- 2013: Revenue of $500K, expenses of $562K, and assets of $1.0M (revenue -22.5% year-over-year).
- 2012: Revenue of $645K, expenses of $573K, and assets of $1.1M (revenue +34.5% year-over-year).
- 2011: Revenue of $480K, expenses of $406K, and assets of $542K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greater Newark Enterprises Corporation:
Data Sources and Methodology
This transparency report for Greater Newark Enterprises Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.