GREATER NEWARK ENTERPRISES CORP (EIN 202247312) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Phone

9732425563

Tax Period

2024-01-01 to 2024-12-31

GREATER NEWARK ENTERPRISES CORP, founded in 2005, is a community nonprofit in the Community Improvement sector that reported $2.9M in total revenue in fiscal year 2024. Revenue surged 80% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 44% operating margin.

Mission

THE GREATER NEWARK ENTERPRISES CORPORATION (GNEC) MAKES LOANS AND INVESTMENTS IN PROGRAMS IN URBAN COMMUNITIES ENGAGED IN THE FOLLOWING WEALTH-CREATION STRATEGIES: PROVIDING FINANCIAL SERVICES, LOANS AND INVESTMENTS, OFFERING TRAINING AND MENTORING, INFORMATION AND REFERRAL SUPPORT. THE GNEC SEMINARS COVERS TAXES, MARKETING AND SALES, PURCHASING AND INVENTORY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,614,199

Program Service Revenue $300,876

Investment Income $21,519

Other Revenue $0

TOTAL REVENUE $2,936,594

Expense Breakdown

Grants Paid $0

Salaries & Benefits $778,509

Fundraising Expenses $98,442

Program Expenses $1,341,864

Other Expenses $864,960

TOTAL EXPENSES $1,643,469

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,936,594	$1,635,461	+0.8%
Expenses	$1,643,469	$1,793,174	-0.1%
Net Income	$1,293,125	$-157,713	-9.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VICTOR SALAMA	EXECUTIVE DIRECTOR	40.00		$229,583	$0	$229,583
YANE ARIAS	Trustee	0.20	Director	$0	$0	$0
GUSTAVO ABREU	Trustee	0.20	Director	$0	$0	$0
AMIT AIREN	Trustee	0.20	Director	$0	$0	$0
DOMINICK BELFORE	Trustee	0.20	Director	$0	$0	$0
CHRIS MURPHY	Trustee	0.20	Director	$0	$0	$0
KATERINA ZACHARIA	Trustee	0.20	Director	$0	$0	$0
THERONE HOPKINS	Trustee	0.20	Director	$0	$0	$0
CARLTON WEST	Trustee	0.20	Director	$0	$0	$0
JULIAN IBANEZ	Trustee	0.20	Director	$0	$0	$0
JOHN SUWATSON	Secretary	0.20	Officer Director	$0	$0	$0
JUDITH SHEFT	Chairman	1.00	Officer Director	$0	$0	$0
AVI TELYAS	Treasurer	0.20	Officer Director	$0	$0	$0
GLENN CARROLL	Trustee	0.20	Director	$0	$0	$0
KEN BLAND	Trustee	0.20	Director	$0	$0	$0
TAMARA MANGUM	Trustee	0.20	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,936,594	$1,643,469	$7,082,213	$1,293,125
2023	$1,635,461	$1,793,174	$5,090,503	$-157,713
2022	$2,347,648	$1,442,466	$5,136,041	$905,182
2021	$2,856,521	$856,674	$3,825,009	$1,999,847
2020	$1,569,077	$637,344	$1,909,952	$931,733
2019	$459,547	$616,036	$865,498	$-156,489
2018	$816,699	$613,294	$1,044,798	$203,405

GREATER NEWARK ENTERPRISES CORP