2014-10-16T09:23:05-05:00 2014-06-30 WithumSmithBrown PC 1 SPRING STREET NEW BRUNSWICK NJ 08901 990 2013-07-01 383663314 NEWARK TRUST FOR EDUCATION INC % ROSS DANIS NEWA 9736480300 494 BROAD STREET Suite LL30 NEWARK NJ 07102 ROSS DANIS EXECUTIVE DIRECTOR 9736480300 2014-08-31 true Catherine Bendall 7328281614 2013 2015-11-30 17:44:51Z X ROSS DANIS 494 BROAD ST SUITE LL30 NEWARK NJ 07102 767994 false X WWW.NEWARKTRUST.ORG X 2002 NJ INDEPENDENT ORGANIZATION DEDICATED TO DEVELOPING, COORDINATING, AND FOCUSING IDEAS, RESOURCES AND EXPERTISE AND HOLDING EVERYONE ACCOUNTABLE FOR QUALITY EDUCATION IN NEWARK. 13 13 4 13 0 1108209 706152 63645 54200 3208 2777 503 4865 1175565 767994 38761 362530 0 0 404041 440020 0 0 191432 228147 288568 670949 1091118 504616 -323124 2070127 1348034 670096 271127 1400031 1076907 X NEWARK TRUST FOR EDUCATION IS AN INDEPENDENT ORGANIZATION DEDICATED TO DEVELOPING, COORDINATING AND FOCUSING IDEAS, RESOURCES AND EXPERTISE AND HOLDING ALL OF US RESPONSIBLE FOR QUALITY PUBLIC EDUCATION FOR ALL CHILDREN IN NEWARK. WHILE SOME MODEL PROGRAMS DO THRIVE HERE, NEWARK, NJ HAS LACKED A UNIFIED STRATEGY FOR SYSTEMIC SCHOOL REFORM. THE NOTION OF STARTING A LOCAL EDUCATION FUND IN NEWARK TOOK ROOT IN 2008, WHEN A GROUP OF ENGAGED CITIZENS, SCHOOL DISTRICT LEADERS, POLICY MAKERS, AND FUNDERS, LED BY THE PRUDENTIAL FOUNDATION, CONCERNED ABOUT THE HISTORY OF UNDERPERFORMING SCHOOLS IN THE CITY BEGAN TO EXPLORE THE IDEA IN EARNEST. A YEARLONG PLANNING PROCESS TOOK PLACE THAT INVOLVED OVER 100 STAKEHOLDERS. BEYOND SIGNIFICANT FUNDING FROM THE PRUDENTIAL FOUNDATION AS WELL AS IMPORTANT EARLY SUPPORT FROM THE VICTORIA FOUNDATION AND THE SCHUMANN FUND FOR NEW JERSEY, IT WAS AND REMAINS THE EXPERIENCE, COMMITMENT, AND INTELLECTUAL SUPPORT OF THE BOARD OF DIRECTORS THAT STANDS AS THE ORGA false false 143330 Community Engagement - The Trust is committed to public engagement that elevates all voices in support of quality public education for all Newark's children. The Trust seeks to expand outreach, strengthen relationships across sectors and communities, and deepen the understanding of issues, concerns, proposed strategies and initiatives, all in an effort to increase the number of Newark children who are prepared for college or a career. 76804 4865 Research and Publications - Research and publications play an important role in our effort to keep policy makers, parents, program providers, and school principals informed about best practices, and about how they can align efforts in increasingly coordinated and strategic ways. Signature tools that the Trust has developed to assist in these efforts include the NET Navigator (online), which maps external resources at the school level and helps funders, education leaders, and community stakeholders, understand how university partnerships, philanthropic investments, and community engagement are impacting Newark Public Schools. In addition, School Scope (online) was developed by the Trust to assist parents in choosing schools that best meet the needs of their children. 451714 54200 Collaboration and Leadership The Trust's 2014-2017 Strategic Plan is focused on ensuring that all district schools are led by highly effective principals and vice principals, and that all students have access to high quality school options. More specifically, The Trust manages a Funders Collaborative that strategically aligns the resources of a growing number of funders in order to incubate, support, and sustain high quality school options for all students. The Trust also manages a fund that provides financial awards to principals and vice principals of high need schools, for both electing to work in such high need environments and then for those principals and vice principals who are able to demonstrate that their efforts have resulted in increased academic achievement. 671848 true true false false false false false false true false true false false false false true true false false false false false false false false false false true true true false false false false false false false false false false false false false false false false false true 9 0 true 4 true false false false false false false false false false false X 13 13 false false false false false false false true true false false true true true true true true true true false NJ X ROSS DANIS 9736480300 494 BROAD ST SUITE LL30 NEWARK NJ 07102 SHAN HARRIS CHAIR 1.0 X X 0 0 0 MASHEA ASHTON BOARD MEMBER 1.0 X 0 0 0 IRENE COOPER-BASCH BOARD MEMBER 1.0 X 0 0 0 STEVEN DINER BOARD MEMBER 1.0 X 0 0 0 CELIA KING SECRETARY 1.0 X X 0 0 0 RAYMOND OCASIO TREASURER 1.0 X X 0 0 0 BARBARA REISMAN BOARD MEMBER 1.0 X 0 0 0 JUNIUS WILLIAMS BOARD MEMBER 1.0 X 0 0 0 JOHN SCHREIBER BOARD MEMBER 1.0 X 0 0 0 NANCY CANTOR Board Member 1.0 X 0 0 0 ROBERT CLARK Board Member 1.0 X 0 0 0 JOSEPH DELLA FAVE BOARD MEMBER 1.0 X 0 0 0 CLEMENT PRICE CHAIR EMERITUS 1.0 X 0 0 0 Ross Danis Executive Director 40.0 X 230400 0 0 230400 0 0 1 false true false 0 706152 11645 706152 MANAGEMENT FEE REVENUE 900099 54200 54200 54200 2777 2777 0 0 0 0 0 0 0 0 0 MISCELLANEOUS INCOME 900099 4865 4865 4865 767994 59065 2777 35041 35041 327489 327489 0 0 230400 87552 32256 110592 0 157494 98637 49202 9655 0 27226 13069 5717 8440 24900 11952 5229 7719 0 0 57640 57640 0 0 0 91620 52606 15150 23864 1317 1317 27365 3392 20715 3258 4288 4288 0 35138 15847 9057 10234 6786 243 106 6437 0 27187 13050 5709 8428 0 0 9048 4343 1900 2805 2030 2030 DONATIONS AND SCHOLARSHIPS 3060 1760 1300 MOVING EXPENSES 17539 17539 OTHER PROGRAM EXPENSE 5550 5550 1091118 671848 227838 191432 X 672033 664636 680543 222211 710969 437500 0 0 0 0 0 0 0 0 0 0 1843 2452 38418 17183 4739 21235 0 0 0 0 0 0 0 0 0 0 2070127 1348034 44133 23599 0 0 0 32500 0 0 625963 215028 0 0 0 0 0 0 0 0 670096 271127 X 472106 407184 927925 669723 0 0 1400031 1076907 2070127 1348034 -323124 X false true X true false X 1073880 73372 888412 1108209 706152 3850025 0 0 1073880 73372 888412 1108209 706152 3850025 2560894 1289131 1309 3208 2777 7294 0 119 503 4865 5487 3862806 177364 0.33373 0.30418 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 19430 12281 7149 18988 4902 14086 21235 0 0 X 767994 767994 767994 1091118 1091118 1091118 FORM 990, SCHEDULE D, PART X, QUESTION 2 The Trust is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been recorded in the financial statements. Management has determined that there are no uncertain tax positions at the Trust as of June 30, 2014 and 2013. The Trust has no open years subject to examination prior to June 30, 2010. In addition, Trust has no income tax related penalties or interest for the periods reported in the financial statements. FORM 990, SCHEDULE D, PART IV, QUESTION 2B THE TRUST PROVIDES ADMINISTRATIVE SUPPORT AND ANALYSIS TO THE NEWARK PUBLIC SCHOOLS FUNDERS' COLLABORATIVE. THE TRUST HAS SIGNATURE AUTHORITY OVER A BANK ACCOUNT WHEREBY THE FUNDS ARE HELD, HOWEVER, THE GOVERNANCE COMMITTEE OF THE FUNDERS' COLLABORATIVE HAS APPROVAL AUTHORITY OVER THE DIRECTION OF THOSE FUNDS. THE TRUST MAKES GRANTS ON BEHALF OF THE FUNDERS' COLLABORATIVE. true Reserve Elder Service Inc 1440 Broadway No 1601 new york NY 10018 810665063 501(c)(3) 6810 0 N/A N/A COMMUNITY ENGAGEMENT LEADERSHIP AWARDS PROGRAM DISBURSEMENTS 46 305000 N/A N/A COMMUNITY ENGAGEMENT 50 16139 SHARED CAMPUS 2 706 SHABAZZ SUMMER STIPEND 21 5644 MONITORING OF GRANT AWARDS The Collaborative was established to act as a conduit to deploy funds to Schools in need of additional resources to improve the quality of education for students of Newark. Funds received from foundations are credited to the appropriate account for future disbursement; those accounts include the Collaborative Account which is broken down into Restricted and Unrestricted Funds and an Operating Account where funds are either used for operations or designated for a specific purpose. The credits to the accounts are based on the Foundation Award letters. Collaborative Fund: Restricted: 1)Award Letter is issued from the Foundation with an explicit purpose as how the funding is to be deployed 2)Award Letter from the Organization and the Foundation is sent to the Grantee with a check 3)Visits and Follow-ups in the form of post evaluation is monitored and managed by the Organization 4)All paperwork is submitted to the Governance Committee for final review and approval. Unrestricted: 1)RFP (Request for Proposal) is issued to all potential grantees 2)Proposal submitted to the Organization's office for review 3)After review of initial recommendations made by the Organization to Governance Committee 4)Governance committee reviews recommendations and gives final approval with signature of each member 5)Award letters are sent out with a check 6)Follow-up visits and post evaluations reported back to Governance Committee. Operating Fund: Designated to a specific group: Shared Campus 1)RFP issued to schools in the program. 2)Review and approval by the Organization. 3)Grant Award letters send to schools along with the Disbursement of Funds Policy. 4)Check requests are required to receive funds 5)Follow-up and post evaluation are required by the Organization and Foundations. All Grant Awards are reconciled to Bank Accounts and on-going balances of funds disbursed and remaining funds are reviewed by the Foundations and the Organization on a regular basis. X X false false false false false false false false false Ross Danis Executive Director 230400 0 0 0 0 0 0 0 0 0 230400 0 0 0 Schedule J, part III, Supplemental Information THE ORGANIZATION'S BOARD OF Directors HAS ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY WHICH IT FOLLOWS WHEN IT REVIEWS AND APPROVES THE COMPENSATION AND BENEFITS OF THE ORGANIZATION'S Executive Director. A REVIEW OF THE "TOTAL COMPENSATION" IS MADE, WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE REVIEW IS DONE ON AT LEAST AN ANNUAL BASIS AND ENSURES THAT THE "TOTAL COMPENSATION" OF the executive director OF THE ORGANIZATION IS REASONABLE. THE ACTIONS TAKEN BY THE COMMITTEE ENABLE THE ORGANIZATION TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE SECTION 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF the executive director. THE THREE FACTORS WHICH MUST BE SATISFIED IN ORDER TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT; 2. THE AUTHORIZED BODY OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE AUTHORIZED BODY "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION THE MEMBERS OF THE BOARD OF directors EACH ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMMITTEE ADEQUATELY DOCUMENTED ITS BASIS FOR ITS DETERMINATION THROUGH THE TIMELY PREPARATION OF WRITTEN MINUTES OF THE MEETINGS DURING WHICH THE EXECUTIVE COMPENSATION AND BENEFITS WAS REVIEWED AND SUBSEQUENTLY APPROVED. THE ACTIONS OUTLINED ABOVE WITH RESPECT TO THE BOARD AND THE ESTABLISHMENT OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS ONLY APPLIES TO the executive director. THE COMPENSATION AND BENEFITS OF CERTAIN OTHER INDIVIDUALS CONTAINED IN THIS FORM 990 ARE REVIEWED ANNUALLY BY THE executive director IN CONJUNCTION WITH THE INDIVIDUAL'S JOB PERFORMANCE DURING THE YEAR AND IS BASED UPON OTHER OBJECTIVE FACTORS DESIGNED TO ENSURE THAT REASONABLE AND FAIR MARKET VALUE COMPENSATION IS PAID BY THE ORGANIZATION. OTHER OBJECTIVE FACTORS INCLUDE SALARY DATA FOR COMPARABLE POSITIONS, PERSONNEL REVIEWS AND EVALUATIONS. A complete description of the salary review and authorization policy is found in Schedule O. 990, PART VI, SECTION B, QUESTION 11A The form 990 is prepared by the auditor and reviewed by MANAGEMENT. A draft of the Form 990 is provided to the board for review and approval pRIOR TO FILING OF THE FORM 990 990, PART VI, SECTION B, QUESTION 12 THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY That PROTECTs the trust WHEN IT IS CONTEMPLATING ENTERING INTO Any TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OF THE ORGANIZATION OR MIGHT RESULT IN A POSSIBLE EXCESs BENEFIT TRANSACTION. BOARD MEMBERS AND EXECUTIVES ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE DISCLOSING A CONFLICT, IF APPLICABLE. 990, PART VI, SECTION B, QUESTION 13 It is the responsibility of all representatives to report ethics violations or suspected violations in accordance with this Whistleblower Policy. FORM 990, PART VI, SECTION C, QUESTION 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND they are also AVAILABLE ON GUIDESTAR.org. FORM 990, PART VI, SECTION B, QUESTION 15 The board of directors formal evaluation of the executive director is based upon the goals outlines in the Organization's strategic plan. Conducted bi-annually, the executive director submitted an extensive self-assessment to the board chair and the executive committee of the board of directors. The executive committee of the board met with the executive director to review the assessment and track progress toward goals. The full governing board as well as additional stakeholders, as deemed appropriate, are surveyed to add evidence and comment on performance. Comments are transcribed and patterns are identified that illustrate areas of strength and areas for growth. This information was shared with the executive director and the entire board of directors in July 2012. The entire process repeats in the first quarter of the second fiscal year that follows. Simultaneously, the board engages in benchmarking salary guidelines across the sector in the region. The council of New Jersey grant makers and other non-profit entities were consulted for salary guides. The executive director was then asked to develop an action plan and set goals for the following cycle. These goals will be sued to inform the next annual performance review and compensation discussion. The salary of the executive director consists of base compensation of $180,000 and a 28 percent benefit allowance which is treated as taxable compensation and included in box 5 compensation on form W-2.