ELEVATE NJ

EIN: 841970933 501(c)(3) Education

Paterson, NJ

Total Revenue
$241,235
Total Expenses
$304,679
Total Assets
$329,651
Net Assets
$24,972
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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
2019
Legal Domicile
NJ
Principal Officer
Carolyn McCombs
Phone
9739790230
Tax Period
2022-07-01 to 2023-06-30

ELEVATE NJ, founded in 2019, is a small nonprofit in the Education sector that reported $241K in total revenue in fiscal year 2022. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $305K exceeded revenue, resulting in a 26% operating deficit.

Mission

Building long-term, life-changing relationships with urban youth, equipping them to thrive and contribute to their community.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $241,235
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $241,235

Expense Breakdown

Grants Paid $0
Salaries & Benefits $247,351
Fundraising Expenses $13,000
Program Expenses $289,673
Other Expenses $44,328
TOTAL EXPENSES $304,679

Year-over-Year Comparison

2022 2021 Change
Revenue $241,235 $340,865 -0.3%
Expenses $304,679 $337,373 -0.1%
Net Income $-63,444 $3,492 -19.2%
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

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Governance

Voting Members
7
Independent Members
7
Employees
4
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
1
$41,106
Total Directors
6
$41,106
Key Employees
1
$41,106
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Carolyn McCombs Executive Director Ex-officio Board Member 30
Officer Director Key Emp Highest
$41,106 $0 $41,106
Karen Stanley Board Chair 2
Director
$0 $0 $0
Annie Tubbs Board Secretary 2
Director
$0 $0 $0
Rich Gutowski Board Member 2
Director
$0 $0 $0
Roger Wilkin Board Member 2
Director
$0 $0 $0
Richard Seidler Board Member 2
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
2023 $241,235 $304,679 $329,651 $-63,444
2022 $340,865 $337,373 $427,816 $3,492
2021 $237,092 $152,418 $237,092 $84,674
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