Newark Development Partners
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2019 | 760,650 | 500,537 | 260,113 | 49.3 | 22% |
| 2020 | 2,811,099 | 333,037 | 2,478,062 | 163.3 | 36% |
| 2021 | 7,291,964 | 302,733 | 6,989,231 | 456.7 | 45% |
| 2022 | 866,644 | 715,760 | 150,884 | 196.4 | 24% |
| 2023 | 3,300,746 | 1,193,643 | 2,107,103 | 139.0 | 17% |
In its most recent public year (2023), this organization brought in $2,107,103 more than it spent. Its reserves stood at about 139 months of spending, up from 49.3 in 2019. Staff pay was 17% of spending. $6,363,993 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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