The Greater Newark Holiday Fund

Nonprofit profile at a glance

EIN
237235898
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
8662924673
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$211,042
Expenses
$217,502
Assets
$59,631
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • MARIE L MATHEWS (PRESIDENT/SECRETARY)
  • SAM GARRUTO (VICE PRESIDENT)

People named in this filing

  • MARIE L MATHEWS (PRESIDENT/SECRETARY)
  • SAM GARRUTO (VICE PRESIDENT)
  • ANTHONY AZEVEDO (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To conduct an annual appeal for donations to support the work of various social service agencies in the northern New Jersey area. These agencies provide financial assistance and vital services to the less fortunate.

What it reported doing in 2024

Conducted an annual fund raising campaign, the proceeds of which help to fund programs offered by social service agencies in the greater newark, nj area which provide assistance to the less fortunate, particularly during the winter holiday months.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 44% for direct work, and 56% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 80th 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.1%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -4.7% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -4.7% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 12 of 12 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $218K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 11 filed related-organization links
  • 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 — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.