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Nonprofit · EIN 22-3664305

NEWARK ALLIANCE INC

Tax-exempt · NEWARK, NJ 07102

Financials

$4.7M$4.4M2023$7.9M$5.6M2024
Revenue Expenses · by fiscal year end
Financials of NEWARK ALLIANCE INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$7,916,835$5,598,491$2,318,344$8,708,782$2,049,149$6,659,633
December 31, 2023990$4,675,224$4,351,314$323,910$6,051,783$1,710,494$4,341,289
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$6,925,271
of which government grants
$2,210,592
Program service revenue
$783,625
Investment income
$206,014
Other revenue
$1,925

Expenses

Grants and similar amounts paid
$1,188,464
Compensation of officers, directors and key employees
$1,075,405
Other salaries and wages
$283,763
Salaries, compensation and benefits (total)
$1,732,058
Professional fundraising fees
$0
Legal fees
$15,735
Accounting fees
$34,514
Occupancy
$53,104
Travel
$17,847
Depreciation
$2,672
Program services (functional)
$4,510,095
Management and general (functional)
$1,088,396

Balance sheet and other

Total assets, start of year
$6,051,783
Total assets, end of year
$8,708,782
Total liabilities, end of year
$2,049,149
Net assets, end of year
$6,659,633
Land, buildings and equipment
$10,243
Net assets without donor restrictions
$4,532,171
Net assets with donor restrictions
$2,127,462
Gross receipts
$7,916,835
Employees
11
Volunteers
10
Year formed
1999
State of legal domicile
NJ

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
EVAN WEISSPRESIDENT/CFO40$288,397$28,103
ASHLEY MAYSDIRECTOR40$207,500$27,937
KALEENA BERRYMANDIRECTOR40$179,167$21,623
SIBUSISIWE MALABADIRECTOR40$163,769$14,496
CATHERINE KLINGER KUTCHERDIRECTOR40$145,273$13,276
KIMBERLY BROWN–40$105,500$13,063
Lata ReddyChairman
Trustee or director, Officer
5$0$0
DENNIS M BONETrustee
Trustee or director
3$0$0
JOHN SCHREIBERTrustee
Trustee or director
3$0$0
CHRISTOPHER JAMESTrustee
Trustee or director
3$0$0
RICHARD DUNNTrustee
Trustee or director
3$0$0
SUZANNE SPEROTrustee
Trustee or director
3$0$0
ARCELIO APONTETrustee
Trustee or director
3$0$0
NEMIN JAYATrustee
Trustee or director
3$0$0
ADENAH BAYOHTrustee
Trustee or director
3$0$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensationOther / benefits
EVAN WEISSPRESIDENT/CFO40$275,000$19,906
ASHLEY MAYSDIRECTOR40$195,000$21,124
KALEENA BERRYMANDIRECTOR40$156,083$15,582
SIBUSISIWE MALABADIRECTOR40$154,404$14,214
Lata ReddyChairman
Trustee or director, Officer
5$0$0
DENNIS M BONEBOARD MEMBER
Trustee or director
3$0$0
JOHN SCHREIBERBOARD MEMBER
Trustee or director
3$0$0
CHRISTOPHER JAMESBOARD MEMBER
Trustee or director
3$0$0
RICHARD DUNNBOARD MEMBER
Trustee or director
3$0$0
SUZANNE SPEROBOARD MEMBER
Trustee or director
3$0$0
NANCY CANTORBOARD MEMBER
Trustee or director
3$0$0
ADENAH BAYOHBOAR MEMBER
Trustee or director
3$0$0

Address and contacts

Address (IRS master file)
60 PARK PL STE 604, NEWARK, NJ 07102-5516
In care of
% PETER TYNDALE
Principal officer (990 for 2024)
Lata Reddy, 60 Park Place 1016, Newark, NJ 07102
Signed the 990
Lata Reddy, Chairman
Phone
(973) 596-6400
Return prepared by
SAMUEL KLEIN AND COMPANY

Mission

TO WORK IN PARTNERSHIP TO MAKE NEWARK A BETTER, SAFER PLACE TO WORK, LIVE, LEARN, PLAY, AND DO BUSINESS.

990 for the year ended December 31, 2024

Program accomplishments

  • NEWARK YOUTH CAREER PATHWAYS - brings together high-quality unique youth development programs in schools, to ensure all students graduate with a career pathway and plan.
    Expenses $1,384,038
  • Hire,Buy,Live Newark - Harnesses the aggregated economic power and expertise of Members to fundamentally and positively change how core economic and organizational practices like hiring and procurement work in Newark as a means to achieve inclusive economic growth.
    Expenses $1,136,326
  • Business Attraction Program - this program aims to attract startups and businesses to relocate to or expand their existing presence in Newark, New Jersey and help grow the local innovation economy.
    Expenses $1,022,205
  • Other - INCLUDES PLACEMAKING AND ECONOMIC VITALITY INITIATIVES SUCH AS HALSEY FEST AND REAL ESTATE STRATEGY TO ACTIVATE PUBLIC SPACES, SUPPORT SMALL BUSINESSES, AND STRENGTHEN NEWARKS DOWNTOWN CORRIDORS.
    Expenses $967,526

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
22-3664305
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2000
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$8,708,782
Income (IRS master file)
$7,916,835

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$7,916,835$5,598,491$8,708,782IRS
990December 2023$4,675,224$4,351,314$6,051,783XML
990December 2022$4,232,490$2,929,765$5,683,238IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-3664305).

Questions about NEWARK ALLIANCE INC

What is the EIN of NEWARK ALLIANCE INC?
The employer identification number (EIN) of NEWARK ALLIANCE INC is 22-3664305.
Is NEWARK ALLIANCE INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
Are donations to NEWARK ALLIANCE INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does NEWARK ALLIANCE INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of NEWARK ALLIANCE INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did NEWARK ALLIANCE INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of NEWARK ALLIANCE INC?
The 990 for the year ended December 31, 2024 names Lata Reddy.
Who are the officers and directors of NEWARK ALLIANCE INC?
The 990 for the year ended December 31, 2024 lists 15 people; 6 received compensation from the organization, the highest $288,397 (EVAN WEISS, PRESIDENT/CFO).
How much revenue does NEWARK ALLIANCE INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $7,916,835, expenses of $5,598,491 and total assets of $8,708,782 at year end.

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