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← FRIENDS OF PHILIPS NEWARK INC

Form 990 for tax year 2024

Filed by FRIENDS OF PHILIPS NEWARK INC.

Totals

Total revenue
$4,097,162
Total expenses
$835,928
Contributions and grants received
$3,631,686
Grants paid
$53,950
Program service revenue
$0
Investment income
$103,694
Other revenue
$361,782
Total assets, end of year
$18,312,449
Total liabilities, end of year
$172,743
Net assets or fund balances, end of year
$18,139,706
Program services expenses (Part IX)
$754,396
Management and general expenses
$81,532
Fundraising expenses
$0
Program service expenses (Part III)
$754,396

Program services were 90.2% 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.

  • 1d · Related organizations

    $157,945

  • 1f · All other contributions, gifts and grants

    $3,473,741

  • 1g · Noncash contributions included above

    $1,565,553

  • 3 · Investment income

    total $103,694 · excluded $103,694

  • 11a · Other revenue: LEGAL SETTLEMENT

    total $354,436 · excluded $354,436

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $7,346 · excluded $7,346

  • 11e · Other revenue, total

    $361,782

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $49,550 · program services $49,550

  • 2 · Grants to domestic individuals

    total $4,400 · program services $4,400

  • 11b · Fees: legal

    total $7,932 · management and general $7,932

  • 11c · Fees: accounting

    total $58,933 · management and general $58,933

  • 11f · Fees: investment management

    total $6,928 · management and general $6,928

  • 11g · Fees: other

    total $126,643 · program services $126,643

  • 13 · Office expenses

    total $9,198 · program services $6,428 · management and general $2,770

  • 22 · Depreciation, depletion and amortization

    total $534,485 · program services $534,485

  • 24a · Other expenses: MISCELLANEOUS

    total $37,859 · program services $32,890 · management and general $4,969

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $376,229 · end of year $516,911

  • 2 · Savings and temporary cash investments

    end of year $1,137,277

  • 3 · Pledges and grants receivable

    end of year $1,650,000

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

    $23,612,333

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

    $11,113,231

  • 10c · Land, buildings and equipment, net

    beginning of year $13,033,587 · end of year $12,499,102

  • 11 · Investments: publicly traded securities

    beginning of year $1,305,487 · end of year $1,617,861

  • 15 · Other assets

    beginning of year $0 · end of year $891,298

  • 17 · Accounts payable and accrued expenses

    end of year $52,116

  • 25 · Other liabilities

    beginning of year $0 · end of year $120,627

  • 27 · Net assets without donor restrictions

    beginning of year $13,409,816 · end of year $13,270,654

  • 28 · Net assets with donor restrictions

    beginning of year $1,305,487 · end of year $4,869,052

Mission and programs · 2024

Mission

SUPPORT THE EDUCATION OF URBAN YOUTH AND TO PROVIDE RESOURCES TO INSTITUTIONS DEDICATED TO HELPING URBAN YOUTH TO DEVELOP THE INTELLECTUAL COMPETENCE AND VALUES NECESSARY TO LIVE PRODUCTIVE LIVES FILLED WITH OPTIONS AND CHOICE.

  • SUPPORT THE EDUCATION OF URBAN YOUTH AND TO PROVIDE RESOURCES TO INSTITUTIONS DEDICATED TO HELPING URBAN YOUTH TO DEVELOP THE INTELLECTUAL COMPETENCE AND VALUES NECESSARY TO LIVE PRODUCTIVE LIVES FILLED WITH OPTIONS AND CHOICE.

    Expenses $754,396 · Grants $53,950

As filed on the 2024 return.

Listed in Part VII

  • Amy Jo Curran

    DIRECTOR OF ADVOCACY/CHAIR

    Total calculated
    $95,840
    From this org
    $0
    From related orgs
    $93,595
    Other
    $2,245
    Hours/week
    40

  • Tai Beauchamp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Benilde Little

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Samantha Pugh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
4 May 2026
IRS schema version
2024v5.5
Source object
202611259349302291

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