Skip to content
Nonprofiteer
← IDEAL EDUCATION A NJ NONPROFIT CORPORATION

Form 990 for tax year 2023

Filed by IDEAL EDUCATION A NJ NONPROFIT CORPORATION.

Totals

Total revenue
$3,502,264
Total expenses
$2,372,485
Contributions and grants received
$3,502,264
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$9,220,039
Total liabilities, end of year
$7,549,167
Net assets or fund balances, end of year
$1,670,872
Program services expenses (Part IX)
$1,717,952
Management and general expenses
$654,533
Fundraising expenses
$0
Program service expenses (Part III)
$1,717,952

Program services were 72.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,744,012

  • 1f · All other contributions, gifts and grants

    $1,758,252

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $156,000 · program services $117,000 · management and general $39,000 · fundraising $0

  • 7 · Other salaries and wages

    total $523,527 · program services $392,645 · management and general $130,882 · fundraising $0

  • 9 · Other employee benefits

    total $95,529 · program services $71,647 · management and general $23,882 · fundraising $0

  • 10 · Payroll taxes

    total $250,708 · program services $188,031 · management and general $62,677 · fundraising $0

  • 11b · Fees: legal

    total $46,288 · program services $34,716 · management and general $11,572 · fundraising $0

  • 12 · Advertising and promotion

    total $155 · program services $116 · management and general $39 · fundraising $0

  • 13 · Office expenses

    total $254,588 · program services $190,940 · management and general $63,648 · fundraising $0

  • 14 · Information technology

    total $34,098 · program services $0 · management and general $34,098 · fundraising $0

  • 16 · Occupancy

    total $324,984 · program services $243,738 · management and general $81,246 · fundraising $0

  • 17 · Travel

    total $6,312 · program services $4,734 · management and general $1,578 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $2,414 · program services $1,810 · management and general $604 · fundraising $0

  • 20 · Interest

    total $47,782 · program services $0 · management and general $47,782 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $231,363 · program services $173,522 · management and general $57,841 · fundraising $0

  • 23 · Insurance

    total $46,004 · program services $34,503 · management and general $11,501 · fundraising $0

  • 24e · All other expenses

    total $352,733 · program services $264,550 · management and general $88,183 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $53,836 · end of year $1,197,176

  • 3 · Pledges and grants receivable

    beginning of year $590,187 · end of year $699,467

  • 8 · Inventories for sale or use

    beginning of year $42,366 · end of year $37,418

  • 10a · Land, buildings and equipment: cost or other basis

    $1,923,313

  • 10b · Land, buildings and equipment: accumulated depreciation

    $559,324

  • 10c · Land, buildings and equipment, net

    beginning of year $1,595,352 · end of year $1,363,989

  • 11 · Investments: publicly traded securities

    beginning of year $52,500 · end of year $52,500

  • 14 · Intangible assets

    beginning of year $6,196,485 · end of year $5,869,489

  • 17 · Accounts payable and accrued expenses

    beginning of year $181,042 · end of year $182,903

  • 23 · Secured mortgages and notes payable

    beginning of year $375,366 · end of year $361,677

  • 24 · Unsecured notes and loans payable

    beginning of year $7,433,225 · end of year $7,004,587

  • 27 · Net assets without donor restrictions

    beginning of year $541,093 · end of year $1,670,872

Mission and programs · 2023

Mission

Ideal Education DBA Ideal Institute of Technology is a 501 (c) 3 non-profit private career school that is licensed by the State of New Jersey Department of Education and the Department of Labor and Workforce Development. Ideal Education is fully accredited by the Middle States Association. Ideal Institute operates two campuses in Atlantic County, New Jersey. The main campus is headquartered at 4403 Black Horse Pike, Unit 2141, Mays Landing; and the second campus is located at 121-123 S. Main Street, Pleasantville. A future home for Ideal is underway at 1000 W. Washington Ave., Pleasantville. Ideal, founded by Dhiren and Mital Parikh, opened its doors in 2016 in Absecon, NJ. Since the service industry dominated Atlantic County, the founders wanted to bring technology and business programs to adults to help them find sustainable, high paying employment. Microsoft Office, Computer Programs, Web Development, and Entrepreneurship programs are among the most popular programs of study. Many a

  • Provide education on business and technology career training

    Expenses $1,717,952 · Revenue $3,502,264

As filed on the 2023 return.

Listed in Part VII

  • Mital Parikh

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Dhiren Parikh

    PROGRAM DIRECTOR

    Total calculated
    $156,000
    From this org
    $156,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $156,000

  • Chirag Patel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Sunny Bhardwaj

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
17 July 2024
IRS schema version
2023v5.1
Source object
202421999349300842

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.