NEW JERSEY SCHOLARS ELITE

EIN: 843406869 501(c)(3)

PRINCETON, NJ

Total Revenue
$640,915
Total Expenses
$669,488
Total Assets
$15,821
Net Assets
$15,821
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
NJ
Principal Officer
JAMES RUNCIE
Phone
9735478600
Tax Period
2022-09-01 to 2023-08-31

NEW JERSEY SCHOLARS ELITE, founded in 2019, is a small nonprofit that reported $641K in total revenue in fiscal year 2022. Revenue decreased 15% compared to the prior year.

Mission

NEW JERSEY SCHOLARS EXISTS TO HELP YOUNG ADULTS AND THEIR FAMILIES PURSUE EXCELLENCE IN ALL FACETS OF THEIR LIVES BY USING COMPETITIVE BASKETBALL AS A PLATFORM. THIS PURSUIT OF EXCELLENCE ENCOMPASSES ACADEMICS, CITIZENSHIP AND SPORTSMANSHIP.

Program Service Accomplishments

Program 1
Expenses: $633,198

BASKETBALL ACADEMYA YEAR-ROUND, COMPREHENSIVE PROGRAM FOR YOUTH PARTICIPANTS GRADES 4-12. THE PROGRAM FOCUSES NOT ONLY ON BASKETBALL BUT ACADEMIC ACHIEVEMENT AND SUPPORT, CIVIC ENGAGEMENT, FINANCIAL...

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BASKETBALL ACADEMYA YEAR-ROUND, COMPREHENSIVE PROGRAM FOR YOUTH PARTICIPANTS GRADES 4-12. THE PROGRAM FOCUSES NOT ONLY ON BASKETBALL BUT ACADEMIC ACHIEVEMENT AND SUPPORT, CIVIC ENGAGEMENT, FINANCIAL LITERACY AND EMOTIONAL HEALTH PROGRAMS TO HELP PREPARE THEM TO SUCCEED AND GROW TO MEET THEIR TRUE AND DESIRED POTENTIAL. THE NEW JERSEY SCHOLARS REPRESENT A VERY UNIQUE OPPORTUNITY TO TAP INTO YOUTH BASKETBALL AT THE HIGHEST AND MOST VISIBLE LEVEL POSSIBLE WITHIN NEW JERSEY AND BEYOND. OUR TEAMS CURRENTLY REPRESENT FIVE DIFFERENT AGE GROUPS AND WILL PLAY IN AN AGGREGATE OF MORE THAN 400 GAMES IN ROUGHLY 40 DIFFERENT VENUES ACROSS A DOZEN STATES. OUR AFFILIATION WITH NIKE SIGNIFICANTLY EXPANDS OUR BRAND AND CREATES VALUE FOR OUR SPONSORS.NIKE INVITED THE NJ SCHOLARS ACADEMY INTO ITS HIGHLY PRESTIGIOUS NIKE ELITE BASKETBALL LEAGUE (EYBL). IT IS THE MOST HIGHLY REGARDED AMATEUR DEVELOPMENT, TRAINING AND EXPOSURE PROGRAM OR "CIRCUIT" IN THE UNITED STATES. FOR EXAMPLE, IN THE 2018 NBA DRAFT, 12 OF THE TOP 14 NBA DRAFT CHOICES WERE NIKE EYBL ALUMNI. OUT OF THE TOP 100 RANKED AMATUER BASKETBALL PLAYERS IN THE COUNTRY, APPROXIMATELY 80 OF THOSE PLAYERS WILL PARTICIPATE IN THE EYBL. ALMOST ALL PLAYERS IN THE EYBL EVENTUALLY COMPETE AS NCAA DIVISION I ATHLETES. THE NIKE EYBL ONLY ALLOWS 35 ELITE BASKETBALL TEAMS IN THE COUNTRY TO PARTICIPATE IN THEIR LEAGUE AND OCCASIONALLY PERMITS NEW TEAMS EVERY FEW YEARS. WE ARE PROUD OF THIS RECOGNITION AND WILL USE IT TO EXPAND OUR EFFORTS TO DEVELOP LOCAL YOUTH AND SUPPORT, ENHANCE, ENLIGHTEN AND EMPOWER THE UNDERLYING COMMUNITIES THAT WE SERVE. THE NIKE AFFILIATION, ALONG WITH OUR EXTENSIVE TRACK RECORD, WILL ALLOW US TO BETTER ATTRACT AND ENGAGE PARTICIPANTS IN OUR PROGRAM.

Program 2

MIDDLE SCHOOL BASKETBALL LEAGUERISING SCHOLARS IS A COMMUNITY BASED PROGRAM THAT CONNECTS MIDDLE SCHOOL BOYS AND GIRLS WITH MENTORS THROUGH BASKETBALL. THE FOCUS OF THE PROGRAM IS TO PROMOTE FITNESS...

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MIDDLE SCHOOL BASKETBALL LEAGUERISING SCHOLARS IS A COMMUNITY BASED PROGRAM THAT CONNECTS MIDDLE SCHOOL BOYS AND GIRLS WITH MENTORS THROUGH BASKETBALL. THE FOCUS OF THE PROGRAM IS TO PROMOTE FITNESS, NUTRITION, TEAMWORK, EDUCATION, CONFIDENCE AND MENTAL HEALTH.

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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 $640,915
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $640,915

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $402
Program Expenses $633,198
Other Expenses $669,488
TOTAL EXPENSES $669,488

Year-over-Year Comparison

2022 2021 Change
Revenue $640,915 $751,000 -0.1%
Expenses $669,488 $738,599 -0.1%
Net Income $-28,573 $12,401 -3.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
N/A
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
0
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES RUNCIE CHAIRPERSON 3.00
Director
$0 $0 $0
TODD PERRY BOARD MEMBER 3.00
Director
$0 $0 $0
JOHN MIRENDA BOARD MEMBER 3.00
Director
$0 $0 $0
JOHN MARTINI BOARD MEMBER 3.00
Director
$0 $0 $0
MARC MORIAL BOARD MEMBER 3.00
Director
$0 $0 $0
NICHOLAS FELMLEE BOARD MEMBER 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
2023 $640,915 $669,488 $15,821 $-28,573
2022 $751,000 $738,599 $44,394 $12,401
2021 $394,357 $463,899 $31,993 $-69,542
2020 $221,957 $120,422 $101,535 $101,535
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