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EIN 20-2247312

Greater Newark Enterprises Corporation

IRS 501(c) type
501(c)(3)
Num. employees
7
City
Newark
State
New Jersey
Year formed
2005
Most recent tax filings
2023-12-01
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
Description
Greater Newark Enterprises Corporation makes loans and investments in programs focused on wealth-creation strategies such as providing financial services, offering training and mentoring, and more. It provides financial and technical assistance to small businesses owned by women, low income individuals, and minorities to encourage entrepreneurship.
Total revenues
$1,635,461
2023
Total expenses
$1,793,174
2023
Total assets
$5,090,503
2023
Num. employees
7
2023

Program areas at Greater Newark Enterprises Corporation

The Greater Newark Enterprises corporation (gnec) provided financial and technical assistance to numerous clients which include small businesses owned by women, low income individuals and minorities to encourage entrepreneurship.

Who funds Greater Newark Enterprises Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Prudential FoundationOrganizational Capacity Building$470,000
Local Initiatives Support CorporationSee Part Iv$379,000
United Way of Greater NewarkProgram Assistance$30,000
...and 5 more grants received

Personnel at Greater Newark Enterprises Corporation

NameTitleCompensation
Victor SpentVice President of Business and International Partnerships
Victor SalamaExecutive Director$220,116
Desiree SealeyDirector of Operation
Tesha KelleyFinancial Director
Khady NdiayeDevelopment and Communications Director
...and 10 more key personnel

Financials for Greater Newark Enterprises Corporation

RevenuesFYE 12/2023
Total grants, contributions, etc.$1,519,844
Program services$112,087
Investment income and dividends$3,530
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,635,461

Form 990s for Greater Newark Enterprises Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-06-28990View PDF
2022-122023-11-15990View PDF
2021-122022-05-11990View PDF
2020-122021-06-14990View PDF
2019-122020-10-21990View PDF
...and 12 more Form 990s

Organizations like Greater Newark Enterprises Corporation

OrganizationLocationRevenue
CLIMB FundCharleston, SC$5,137,686
First American Capital CorporationHales Corners, WI$2,568,889
CDFI Friendly of South BendSouth Bend, IN$687,355
Brooklyn Alliance CapitalBrooklyn, NY$436,355
Shenandoah Community Capital FundStaunton, VA$1,156,932
Johnstown Area Regional IndustriesJohnstown, PA$1,565,309
Utah Microenterprise Loan FundSalt Lake City, UT$547,707
TMC Community CapitalOakland, CA$2,351,825
Nebraska Enterprise FundOakland, NE$4,516,971
Bridging VirginiaRichmond, VA$884,884
Data update history
September 25, 2024
Updated personnel
Identified 7 new personnel
August 28, 2024
Posted financials
Added Form 990 for fiscal year 2023
August 27, 2024
Updated personnel
Identified 1 new personnel
July 16, 2024
Received grants
Identified 2 new grant, including a grant for $30,000 from United Way of Greater Newark
January 6, 2024
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Business and community development organizationsCharities
Issues
Business and industry
Characteristics
State / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
211 Warren St 423
Newark, NJ 07103
Metro area
New York-Newark-Jersey City, NY-NJ-PA
County
Essex County, NJ
Website URL
gnec.org/ 
Phone
(973) 242-5563
IRS details
EIN
20-2247312
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2005
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
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