Newark Fire Officers Union Iaff Local 1860 Inc

Nonprofit profile at a glance

EIN
237082458
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9737337440
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$308,835
Expenses
$337,522
Assets
$230,921
Liabilities
$10,450

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

Leadership & pay

11 people listed

Executive titles in this filing

  • THOMAS V SHEA (PRESIDENT)
  • GREGORY MEEHAN (VICE PRESIDENT)

Highest reported compensation

  • THOMAS V SHEA (PRESIDENT): $39,288 total reported compensation
  • GREGORY MEEHAN (VICE PRESIDENT): $26,192 total reported compensation
  • ANTHONY TARANTINO (OFFICE MANAGER): $12,000 total reported compensation

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

Overview

Mission

Union organization

What it reported doing in 2024

Legal fees - negotiations & arbitrations with employing unit. Afl-cio union labor negotiations.

Operating model

Revenue model
Membership-supported. 97% of the money available for current operations came from membership dues.
Distribution model
Direct operator. The filing allocates 96% 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

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 100
  • Accountability: 77
  • Sustainability: 25
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.9%; rating input score 58
  • Program expense ratio: 52.6%; rating input score 53
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -9.3%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.68; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 29.3%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: -3.9% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 57.9% of revenue deployed · 52.6% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 9 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $39K · 11 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 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 — Financial Efficiency: Program expense ratio scored 53/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.