Overview

Sign up for

Est.

2005

Latest Fiscal Year

Not available

Organization Type

Grantseeker

AI Summary

Greater Newark Enterprises Corp (EIN: 20-2247312) is a nonprofit organization focused on entrepreneurship in urban communities. With an operating budget of $1.6 million and total revenue of $2.9 million for the filing year 2024, GNEC provides loans, investments, training, and mentoring to support wealth-creation strategies. The organization does not rely on a single funder for 50% or more of its revenue, ensuring a diverse funding base for its mission to enhance financial literacy and business acumen through seminars on topics like taxes, marketing, and inventory management. More information can be found on their website at www.gnecorp.org.

Mission Statement

THE GREATER NEWARK ENTERPRISES CORPORATION (GNEC) MAKES LOANS AND INVESTMENTS IN PROGRAMS IN URBAN COMMUNITIES ENGAGED IN THE FOLLOWING WEALTH-CREATION STRATEGIES: PROVIDING FINANCIAL SERVICES, LOANS AND INVESTMENTS, OFFERING TRAINING AND MENTORING, INFORMATION AND REFERRAL SUPPORT. THE GNEC SEMINARS COVERS TAXES, MARKETING AND SALES, PURCHASING AND INVENTORY.
Revenues
$2.9M
Expenses
$1.6M
Net Income:
+$1.3M
Assets
$7.1M
Liabilities
$1.6M
Net Assets:
+$5.5M
Operating Budget
$1.6M
Operating Budget by Year

Due Diligence

Are you a grantmaker?
Charity Verification Snapshot
IRS EO Business Master File Status
Listed as tax-exempt
IRS Pub 78 Status
Eligible for tax-deductible gifts
IRS Revocation Status
Not in Automatic Revocation of Exemption List
Go beyond basic verification
Instantly get 50+ financial health and governance metrics, including LUNA.
plg-image
plg-image
Go beyond basic verification
Instantly get 50+ financial health and governance metrics, including LUNA.
Total No. of Grants
7
Median grant size
$100K
Largest grant received
$550K
V
Victor Salama
Board Member
A
Amit Airen
Board Member
C
Chris Murphy
Board Member

Frequently Asked Questions

What is GREATER NEWARK ENTERPRISES CORP’s budget?
In 2024, GREATER NEWARK ENTERPRISES CORP reported an annual operating budget of around $1.6 million. More detailed financial information is available to registered users.
What causes does GREATER NEWARK ENTERPRISES CORP support?
GREATER NEWARK ENTERPRISES CORP supports work in Entrepreneurship.
Where does GREATER NEWARK ENTERPRISES CORP operate?
GREATER NEWARK ENTERPRISES CORP is headquartered in Newark, NJ.
Who funded GREATER NEWARK ENTERPRISES CORP recently?
In 2024, GREATER NEWARK ENTERPRISES CORP received grants from THE PRUDENTIAL FOUNDATION, CITI FOUNDATION, and OPPORTUNITY FINANCE NETWORK. More information on this organization’s funders is available to registered users.
What is the largest grant GREATER NEWARK ENTERPRISES CORP received in 2024?
The largest grant to GREATER NEWARK ENTERPRISES CORP in 2024 exceeds $550 thousand.
What is GREATER NEWARK ENTERPRISES CORP’s reliance on government grants?
GREATER NEWARK ENTERPRISES CORP relied on government grants for more than 5% of their total revenue in 2024.