Nonprofit · EIN 84-2031980
PRECIOUS GEMS ACADEMY INC
Tax-exempt · FLEMINGTON, NJ 08822
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,108,628 | $1,261,629 | -$153,001 | $842,796 | $842,796 | $0 |
| December 31, 2023 | 990 | $854,098 | $1,048,968 | -$194,870 | $4,932 | $4,932 | $0 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $50,323
- Program service revenue
- $774,770
- Investment income
- $0
- Other revenue
- $283,535
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $700,272
- Salaries, compensation and benefits (total)
- $951,530
- Professional fundraising fees
- $0
- Program services (functional)
- $1,261,629
Balance sheet and other
- Total assets, start of year
- $491,487
- Total assets, end of year
- $842,796
- Total liabilities, end of year
- $842,796
- Net assets, end of year
- $0
- Gross receipts
- $1,108,628
- Employees
- 0
- Year formed
- 2019
- 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 |
|---|---|---|---|
| KAREN COLAVITO | Director Trustee or director | 0 | $0 |
| RAQUEL GONZALEZ | Treasurer Trustee or director | 0 | $0 |
| MARK MASTROLIA | President Trustee or director | 0 | $0 |
| BRETT COLAVITO | Vice President Trustee or director | 0 | $0 |
| KIM GRANDE | Secretary Trustee or director | 0 | $0 |
| BROOKE LABADIE | Treasurer Trustee or director | 0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAREN COLAVITO | Director Trustee or director | – | $0 |
| RAQUEL GONZALEZ | Treasurer Trustee or director | – | $0 |
| MARK MASTROLIA | President Trustee or director | – | $0 |
| BRETT COLAVITO | Vice President Trustee or director | – | $0 |
| KIM GRANDE | Secretary Trustee or director | – | $0 |
| BROOKE LABADIE | Treasurer Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 433 US HWY 202 STE BUILDING B, FLEMINGTON, NJ 08822-0000
- In care of
- % RAQUEL GONZALEZ
- Principal officer (990 for 2024)
- Precious Gems Academy Inc, 433 Us Hwy 202 Ste Building B, Flemington, NJ 08822
- Signed the 990
- RAQUEL GONZALEZ, Assistant Director
- Phone
- (908) 237-0500
- Website
- mypreciousgems.org
Mission
Our mission is to provide childcare at an affordable price to low to moderate income families in hunterdon county
Program accomplishments
- We are a child daycare center and provide child care services from 6 weeks of age to 6 years of age. We also provide meals to all of our students.Expenses $1,292,483 · revenue $1,108,628
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 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 84-2031980
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P33)
- Assets (IRS master file)
- $6,619
- Income (IRS master file)
- $1,492,176
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,108,628 | $1,261,629 | $842,796 | IRS |
| 990 | December 2023 | $854,098 | $1,048,968 | $4,932 | XML |
| 990 | December 2022 | $947,041 | $1,053,975 | $19,079 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 84-2031980).
Questions about PRECIOUS GEMS ACADEMY INC
- What is the EIN of PRECIOUS GEMS ACADEMY INC?
- The employer identification number (EIN) of PRECIOUS GEMS ACADEMY INC is 84-2031980.
- Is PRECIOUS GEMS ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to PRECIOUS GEMS ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PRECIOUS GEMS ACADEMY 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 PRECIOUS GEMS ACADEMY INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PRECIOUS GEMS ACADEMY 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 PRECIOUS GEMS ACADEMY INC?
- The 990 for the year ended December 31, 2024 names Precious Gems Academy Inc.
- Who are the officers and directors of PRECIOUS GEMS ACADEMY INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 0 received compensation from the organization.
- How much revenue does PRECIOUS GEMS ACADEMY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,108,628, expenses of $1,261,629 and total assets of $842,796 at year end.
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