Meadowlands Regional 2040 Foundation Inc
Nonprofit profile at a glance
- EIN
- 463764687
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024, Form 990-EZ 2017, Form 990-T 2024, Form 990-N 2013
- Location
- Lyndhurst, NJ, USA
- Phone
- 2019390707
- Rating
- 58
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Professional Societies, Associations
Reported finances
- Revenue
- $176,913
- Expenses
- $115,430
- Assets
- $553,018
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- JAMES KIRKOS (President & CEO)
Highest reported compensation
- JAMES KIRKOS (President & CEO): $260,177 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
By strengthening the workforce and improving the overall quality of life for the meadowlands community. The foundation trustees have identified educational outreach as key to its mission. The 2040 foundation will help promote awareness and provide programming of economic development, workforce development, leadership and entrepreneurship programs to ensure that our region maintains a high standard of human capital and also innovates to meet the needs of growing businesses. The foundation is comprised of busioness leaders that have deep roots in the region and a strong commitment to improving the area for those that live and work here.
What it reported doing in 2024
Economic development and relocation resource guide advertisements and publications highlight all of the attributes of the region and the communities that make up the meadowlands. It is aimed at corporate site selectors and businesses prospectively looking at relocating here, providing all pertinent municipal, workforce, education and business resources that are available.
Operating model
- Revenue model
- Earned-program. 70% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 32
- Transparency & Controls: 74
- Accountability: 79
- Sustainability: 76
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 28.7%; rating input score 29
- Program expense ratio: 48%; rating input score 48
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 34.8%; rating input score 85; 85th percentile among comparable filings
- Total-asset coverage ratio: 4.79; rating input score 78; 78th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 7.6%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: -6.1% per year; rating input score 0; 15th percentile among comparable filings
- Revenue growth: 7.6% per year; rating input score 100; 64th percentile among comparable filings
- Asset growth: 17.3% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 28.7% of revenue deployed · 48% of spending went to programs
- Governance: 12 of 12 board members independent · 4 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $55K in reported program spending
- Leadership: top reported pay $260K · 13 people listed · 2 of 6 pay-setting controls reported
- Consistency: 14 of 14 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 7 filing years from 2018 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 29/100.
- Moderate — Financial Efficiency: Program expense ratio scored 48/100.
- Review — Accountability: Governance controls: 4 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.