New Jersey Seeds Inc

Nonprofit profile at a glance

EIN
223181507
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9736426422
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$4,425,397
Expenses
$5,490,836
Assets
$11,696,121
Liabilities
$1,712,242

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

31 people listed

Executive titles in this filing

  • JOHN F CASTANO (PRESIDENT AND CEO)
  • ANDREW HOGE (VICE PRESIDENT)
  • CARLOS JIMENEZ (VICE PRESIDENT)
  • IMANI GILLIAM DEJESUS (VICE PRESIDENT)

Highest reported compensation

  • JOHN F CASTANO (PRESIDENT AND CEO): $369,542 total reported compensation
  • ANDREW HOGE (VICE PRESIDENT): $209,371 total reported compensation
  • IMANI GILLIAM DEJESUS (VICE PRESIDENT): $117,945 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

New Jersey seeds (scholars, educators, excellence, dedication, success) is a nonprofit organization that prepares motivated, high-achieving, low-income students for admission to private schools and colleges across the country. Our programs provide a demanding course of study designed to develop the intellectual and leadership potential of our students and prepare them for long-term success.

What it reported doing in 2024

The scholars program is open to eligible 7th grade students who live in central and northern New Jersey. Students are placed in selective day and boarding schools in the 9th grade. The young scholars program is open to eligible 4th and 5th grade students who live in the greater newark area. Students are placed in selective day and junior boarding schools in the 6th and 7th grade. Scholars and young scholars are both 14-month programs; students take classes over two summers and, on the saturdays, in between.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 70
  • Accountability: 98
  • Sustainability: 30
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.6%; rating input score 82
  • Program expense ratio: 65.2%; rating input score 65
  • Fundraising efficiency: $3.7 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 96.4%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -24.1%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 14.7%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -0.9% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 13th percentile among comparable filings

Details

  • Where the money goes: 81.6% of revenue deployed · 65.2% of spending went to programs
  • Governance: 27 of 28 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $3.6M in reported program spending
  • Leadership: top reported pay $370K · 31 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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: Fundraising efficiency scored 11/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.