Nonprofit · EIN 26-0829057
INVEST NEWARK
Tax-exempt · NEWARK, NJ 07102
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $10,293,671 | $8,732,333 | $1,561,338 | $35,240,519 | $10,315,994 | $24,924,525 |
| December 31, 2023 | 990 | $16,457,196 | $6,614,033 | $9,843,163 | $29,952,166 | $6,588,979 | $23,363,187 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $9,651,129
- of which government grants
- $6,060,200
- Program service revenue
- $1,220,191
- Investment income
- -$577,649
- Net gain from sales of assets
- -$577,649
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $2,233,693
- Other salaries and wages
- $411,598
- Salaries, compensation and benefits (total)
- $3,355,356
- Professional fundraising fees
- $0
- Legal fees
- $43,452
- Occupancy
- $226,069
- Travel
- $29,386
- Depreciation
- $150,819
- Program services (functional)
- $6,319,260
- Management and general (functional)
- $2,413,073
Balance sheet and other
- Total assets, start of year
- $29,952,166
- Total assets, end of year
- $35,240,519
- Total liabilities, end of year
- $10,315,994
- Net assets, end of year
- $24,924,525
- Land, buildings and equipment
- $15,259,000
- Gross receipts
- $12,491,538
- Employees
- 24
- Volunteers
- 0
- Year formed
- 2007
- 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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARCUS RANDOLPH | PRESIDENT & CEO Officer | 40 | $180,000 | $62,995 |
| KEVIN COLLINS | CFO Officer | 40 | $180,662 | $53,266 |
| AARON MEYERSON | CHIEF INNOVATIVE ECONOMY OFFICER Key employee | 40 | $179,801 | $33,065 |
| JEET GULATI | GENERAL COUNSEL Key employee | 40 | $173,400 | $34,293 |
| GREGORY GOOD | CHIEF REAL ESTATE DEVELOPMENT OFFICER Key employee | 40 | $165,000 | $24,017 |
| EMILY MANZ | CHIEF BUSINESS DEVELOPMENT OFFICER Key employee | 40 | $155,000 | $31,761 |
| JERERI EDWARDS | SVP OF FINANCE Officer | 40 | $142,139 | $6,576 |
| THERONE HOPKINS STARTED ON 992024 | CHIEF LENDING DEVELOPMENT OFFICER Trustee or director, Officer | 40 | $52,308 | $10,462 |
| KEVIN LYONS | MEMBER Trustee or director | 0 | $0 | $0 |
| MICHAEL SILVA | MEMBER Trustee or director | 0 | $0 | $0 |
| ALLISON LADD | CHAIRPERSON Trustee or director | 0 | $0 | $0 |
| JOE FREISER | CO-CHAIRPERSON Trustee or director | 0 | $0 | $0 |
| RICHARD CAMMARIERI | MEMBER Trustee or director | 0 | $0 | $0 |
| TIFFANY JACKSON | MEMBER Trustee or director | 0 | $0 | $0 |
| KEVIN CALLAGHAN | MEMBER Trustee or director | 0 | $0 | $0 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARCUS RANDOLPH | PRESIDENT & CEO Officer | 40 | $178,500 | $61,179 |
| KEVIN COLLINS | CFO Officer | 40 | $177,120 | $51,509 |
| ROY SOUTHERLAND | CHIEF INVESTMENT OFFICER,0 Officer | 40 | $179,375 | $28,140 |
| AARON MEYERSON | CHIEF INNOVATIVE ECONOMY OFFICER Officer | 40 | $168,268 | $30,782 |
| JEET GULATI | GENERAL COUNSEL Officer | 40 | $163,393 | $19,223 |
| JERERI EDWARDS | SVP OF FINANCE Officer | 40 | $132,840 | $22,500 |
| EMILY MANZ | CHIEF BUSINESS DEVELOPMENT OFFICER Officer | 40 | $124,362 | $13,162 |
| BISOLA TAIWO | MEMBER Trustee or director | 1.5 | $0 | $0 |
| CEDRIC BENNET | MEMBER Trustee or director | 1.5 | $0 | $0 |
| KEVIN LYONS | MEMBER Trustee or director | 1.5 | $0 | $0 |
| LAMONICA MCIVER | MEMBER Trustee or director | 1.5 | $0 | $0 |
| ALLISON LADD | CHAIRPERSON Trustee or director | 1.5 | $0 | $0 |
| JOE FREISER | CO-CHAIRPERSON Trustee or director | 1.5 | $0 | $0 |
| RICHARD CAMMARIERI | MEMBER Trustee or director | 1.5 | $0 | $0 |
| JEANIQUE DRUSES | MEMBER Trustee or director | 1.5 | $0 | $0 |
| CARLOS GONZALEZ | MEMBER Trustee or director | 1.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 111 MULBERRY STREET LL, NEWARK, NJ 07102-4008
- In care of
- % KEVIN SEAWRIGHT
- Principal officer (990 for 2024)
- KEVIN COLLINS, 111 MULBERRY STREET LL, NEWARK, NJ 07102
- Signed the 990
- KEVIN COLLINS, CFO
- Phone
- (973) 273-1040
- Website
- WWW.INVESTNEWARK.ORG
- Return prepared by
- MITCHELL & TITUS LLP
Mission
INVEST NEWARK FACILITATED SMALL BUSINESS LOANS AND EXPANDED AN INITIATIVE TO GIVE SMALL AND MINORITY BUSINESSES MORE ACCESS TO CREDIT, CONTRACTING OPPORTUNITIES AND TECHNICAL ASSISTANCE TO PROMOTE SMALL MINORITY BUSINESS DEVELOPMENT.INVEST NEWARK ALSO IS PROMOTING HOME OWNERSHIP THROUGH ITS LAND BANK AND THE REAL ESTATE PROGRAMS.
Program accomplishments
- SMALL MINORITY BUSINESS DEV/INVESTMENTS & LENDING: INVEST NEWARK FACILITATED SMALL BUSINESS LOANS AND EXPANDED AN INITIATIVE TO GIVE SMALL AND MINORITY BUSINESSES MORE ACCESS TO CREDIT, CONTRACTING OPPORTUNITIES AND TECHNICAL ASSISTANCE TO PROMOTE SMALL MINORITY BUSINESS DEVEOPMENT.Expenses $1,076,530 · revenue $674,968
- REAL ESTATE DEV/LAND BANK: THE AGENCY HELPED BOTH DEVELOPERS AND BUSINESSES ACCESS NEWARK'S VAST DEVELOPMENT OPPORTUNITIES BY ASSISTING WITH A WIDE RANGE OF SERVICES INCLUDING SITE SELECTION, PERMITTING, APPROVALS, AND FINANCING. ADDITIONALLY, THE AGENCY MANAGED REAL ESTATE PROJECTS ON BEHALF OF THE CITY SUCH AS THE NEWARK RIVERFRONT PARK PROJECT.IN JULY 2019, THE STATE OF NEW JERSEY PASSED AN ACT (P.L.2019, C.159 (C.40A:12A-74 ET SEQ.) KNOWN AS THE "NEW JERSEY LAND BANK LAW." IN THE MONTH OF APRIL 2020, THE CITY COUNCIL OF THE CITY OF NEWARK PASSED ORDINANCE 18:15:1 ESTABLISHMENT OF LAND BANK. AS A RESULT OF THE PASSAGE OF THESE TWO PIECES OF LEGISLATION, THE CITY OF NEWARK AND INVEST NEWARK ENTERED INTO A LAND BANK AGREEMENT, WHICH DESIGNATED INVEST NEWARK AS THE LAND BANK ENTITY. INVEST NEWARK OPERATES THE NEWARK LAND BANK THAT WILL STRATEGICALLY ACQUIRE, MAINTAIN, AND REPURPOSE VACANT, ABANDONED, AND FORECLOSED PROPERTIES, AND EFFICIENTLY RETURN THEM TO PRODUCTIVE USE IN ORDER TO BOOST HOMEOWNERSHIP; REDUCE BLIGHT; INCREASE MWBE DEVELOPER OR SUBCONTRACTOR CAPACITY; INCREASE PROPERTY VALUES AND IMPROVE THE QUALITY OF LIFE FOR NEWARK RESIDENTS.Expenses $1,809,239
- Expenses $3,433,491 · revenue $545,223
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 26-0829057
- 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
- 2008
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $35,240,519
- Income (IRS master file)
- $12,491,538
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $10,293,671 | $8,732,333 | $35,240,519 | XML |
| 990 | December 2023 | $16,457,196 | $6,614,033 | $29,952,166 | XML |
| 990 | December 2022 | $6,698,200 | $4,042,566 | $20,248,135 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | 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 26-0829057).
Questions about INVEST NEWARK
- What is the EIN of INVEST NEWARK?
- The employer identification number (EIN) of INVEST NEWARK is 26-0829057.
- Is INVEST NEWARK tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
- Are donations to INVEST NEWARK tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INVEST NEWARK 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 INVEST NEWARK 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 INVEST NEWARK 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 INVEST NEWARK?
- The 990 for the year ended December 31, 2024 names KEVIN COLLINS.
- Who are the officers and directors of INVEST NEWARK?
- The 990 for the year ended December 31, 2024 lists 15 people; 8 received compensation from the organization, the highest $180,000 (MARCUS RANDOLPH, PRESIDENT & CEO).
- How much revenue does INVEST NEWARK have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $10,293,671, expenses of $8,732,333 and total assets of $35,240,519 at year end.
Other nonprofits in NEWARK
- CHOOSE NEW JERSEY INC EIN 27-2903875 · last filed 990 for 2024
- NEWARK DOWNTOWN DISTRICT MANAGEMENT CORPORATION EIN 22-3646316 · last filed 990 for 2024
- INSTITUTE FOR ENTREPRENEURIAL LEADERSHIP INC EIN 04-3660900 · last filed 990 for 2024
- MPT FACILITY INC EIN 46-3252777 · last filed 990 for 2025
- GREATER NEWARK ENTERPRISES CORPORATION EIN 20-2247312 · last filed 990 for 2025
- LINCOLN PARK COAST CULTURAL DISTRICT INC EIN 22-3729215 · last filed 990 for 2024
- DISTRICT 1199J NEW JERSEY HEALTH CARE EMPLOYERS PENSION FUND EIN 22-3619686 · last filed 990 for 2024
- NEW YORK - NEW JERSEY 2026 WORLD CUP HOST COMMITTEE INC EIN 92-2818846 · last filed 990 for 2024
All nonprofits in NEWARK · New Jersey · Community improvement and capacity building