Newark Alliance INC

Nonprofit profile at a glance

EIN
223664305
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9735966400
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$7,916,835
Expenses
$5,598,491
Assets
$8,708,782
Liabilities
$2,049,149

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

Leadership & pay

15 people listed

Executive titles in this filing

  • EVAN WEISS (PRESIDENT/CFO)

Highest reported compensation

  • EVAN WEISS (PRESIDENT/CFO): $316,500 total reported compensation
  • ASHLEY MAYS (DIRECTOR): $235,437 total reported compensation
  • KALEENA BERRYMAN (DIRECTOR): $200,790 total reported compensation

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

Overview

Mission

To work in partnership to make newark a better, safer place to work, live, learn, play, and do business.

What it reported doing in 2024

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.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 63
  • Accountability: 90
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.1%; rating input score 58
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th 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: 49.8%; rating input score 50; 15th percentile among comparable filings
  • 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: 6 of 8 controls in place; rating input score 75
    • 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: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 29.3%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 1.56; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 21.6%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 14.9% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 15.2% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 58.1% of revenue deployed · 80.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $4.5M in reported program spending
  • Leadership: top reported pay $316K · 15 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $441K reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.