GREATER NEWARK TOURISM IMPROVEMENT… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2012

Legal Domicile

Principal Officer

ANGELA GARRETSON

Phone

9737352135

Tax Period

2024-01-01 to 2024-12-31

GREATER NEWARK TOURISM IMPROVEMENT DISTRICT MANAGEMENT CORPORATION, founded in 2012, is a community nonprofit in the Community Improvement sector that reported $2.4M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $2.2M left a modest 8% surplus.

Mission

TO MARKET AND DEVELOP THE GREATER NEWARK REGION AS A YEAR ROUND OVERNIGHT DESTINATION FOR THE ECONOMIC BENEFIT OF NEWARK,NJ AND THE SURROUNDING REGION.

Program Service Accomplishments

Program 1

Expenses: $1,834,890

THE GREATER NEWARK CONVENTION& VISITORS BUREAU IS COMMITTED TO GENERATE ECONOMIC GROWTH AND CREATE NEW JOBS FOR NEWARK BY INCREASING THE NUMBER OF OVERNIGHT VISITORS TO NEWARK, THEIR LENGTH OF STAY AT NEWARK HOTLES AND THEIR PER CAPITA SPENDING AT NEWARK ATTRACTIONS AND RESTAURANTS. GNCVB STRATEGIES INCLUDE ATTRACTING NEW EVENTS,MEETINGS AND CONFERENCES TO THE REGION AS WELL AS BROADLY PROMOTING AND MARKETING THE ASSESTS OF THE GREATER NEWARK REGION. THE GNCVB BOARD OF TRUSTEES IS COMPRISED OF LOCAL TOURISM PROFESSIONALS AND KEY INDUSTRY LEADERS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,352,196

Program Service Revenue $9,148

Investment Income $11,751

Other Revenue $0

TOTAL REVENUE $2,373,095

Expense Breakdown

Grants Paid $0

Salaries & Benefits $873,931

Fundraising Expenses $0

Program Expenses $1,834,890

Other Expenses $1,299,667

TOTAL EXPENSES $2,173,598

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,373,095	$2,187,457	+0.1%
Expenses	$2,173,598	$1,944,121	+0.1%
Net Income	$199,497	$243,336	-0.2%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$134,614

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELVIN WALDROP	DIRECTOR	3.00	Director	$0	$0	$0
ANTONIO CARTENEGA	DIRECTOR	3.00	Director	$0	$0	$0
VIJAY ALIMCHANDANI	DIRECTOR	3.00	Director	$0	$0	$0
JOE MACEDO	TREASURER	3.00	Officer	$0	$0	$0
DYLAN WANAGIEL	DIRECTOR	3.00	Director	$0	$0	$0
RICHARD DUNN	DIRECTOR	3.00	Director	$0	$0	$0
MITCH NASSIRI	VICE CHAIR	3.00	Officer	$0	$0	$0
ADOLFIS PIMENTEL	DIRECTOR	3.00	Director	$0	$0	$0
BONNIE CARAVAGLIA	DIRECTOR	3.00	Director	$0	$0	$0
BRIANA DAVIS	DIRECTOR	3.00	Director	$0	$0	$0
KAREM EDWARDS	DIRECTOR	3.00	Director	$0	$0	$0
MARCUS RANDOLPH	DIRECTOR	3.00	Director	$0	$0	$0
FAYEMI SHAKUR	DIRECTOR	3.00	Director	$0	$0	$0
VICTORIA WALKER	DIRECTOR	3.00	Director	$0	$0	$0
ANDY CHAING	SECRETARY	3.00	Officer	$0	$0	$0
KATIE SWORD	DIRECTOR	3.00	Director	$0	$0	$0
ANGELA GARRETSON	CHAIR	3.00	Officer	$0	$0	$0
THAFER HANINI	DIRECTOR	3.00	Director	$0	$0	$0
RICARDO SALAZAR	PRESIDENT/CEO	40.00	Key Emp	$134,614	$0	$134,614
KIMBERLEE WILLIAMS	VICE CHAIR	3.00	Key Emp	$0	$0	$0
TONY VAUGHN	DIRECTOR	3.00	Director	$0	$0	$0
LARRY CRUMP	DIRECTOR	3.00	Director	$0	$0	$0
VINCE BAGLIVO	DIRECTOR	3.00	Director	$0	$0	$0
FERLANDA NIXON	DIRECTOR	3.00	Director	$0	$0	$0
CHRISTOPHER DUDLEY	DIRECTOR	3.00	Director	$0	$0	$0
ANTONIO CARTAGENA	DIRECTOR	3.00	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	$2,373,095	$2,173,598	$1,923,868	$199,497
2023	$2,208,555	$1,911,512	$1,801,692	$297,043
2022	$2,669,312	$1,986,603	$1,644,806	$682,709
2022	$2,446,178	$1,804,106	$1,676,241	$642,072
2021	$1,241,066	$1,612,732	$972,729	$-371,666
2020	$755,924	$1,501,949	$1,277,994	$-746,025
2019	$2,110,205	$2,290,985	$2,041,270	$-180,780
2019	$2,112,646	$2,284,722	$2,061,493	$-172,076
2018	$2,171,739	$1,941,664	$2,210,105	$230,075

GREATER NEWARK TOURISM IMPROVEMENT DISTRICT MANAGEMENT CORPORATION