2013-09-30T10:15:57-05:00 2013-06-30 WithumSmithBrown PC 1 SPRING STREET NEW BRUNSWICK NJ 08901 990 2012-07-01 383663314 NEWARK TRUST FOR EDUCATION INC % ROSS DANIS NEWA 9736480300 744 BROAD STREET 26TH FLOOR Suite NEWARK NJ 07102 Ross Danis 9736480300 2013-09-13 true Catherine Bendall 7328281614 2012 2016-02-25 16:41:14Z ROSS DANIS 744 BROAD ST 26TH FL NEWARK NJ 07102 1175565 false X WWW.NEWARKTRUST.ORG X 2002 NJ 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. 16 16 6 16 0 888412 1108209 59400 63645 1309 3208 119 503 949240 1175565 64661 38761 0 0 386708 404041 0 0 137242 268692 228147 720061 670949 229179 504616 1709758 2070127 814343 670096 895415 1400031 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 176016 63645 Newark Public Schools Funders Collaborative - The Newark Public Schools Funders Collaborative (the "Funders Collaborative") provides a coordinated, strategic, and focused effort to increase the number and quality of school options that meet the diverse needs of Newark students. The Trust provides administrative support and analysis to the funders collaborative, which currently consists of nine funders who have collectively pooled funds into an investment fund to provide grants and assistance to public schools in the City of Newark. The funders' collaborative is currently supporting high quality district school options run by the Newark Public Schools. Beyond being a benefit to those schools receiving funding, the funders collaborative established a vehicle, framework, and governance model that aligns and coordinates resources on behalf of district reform strategies. The expenses included in the statement of functional expenses are the administrative costs incurred by the Trust to support the Newark Public Schools Funders Collaborative. 101253 503 Research and Publications - Includes the development of the NET Navigator Program which maps external resources at the school level and provides a tool for public schools. NET Navigator was created to help funders, education leaders, and community stakeholders understand how university partnerships, philanthropic investments, and community engagements are impacting Newark Public Schools. NET Navigator does not evaluate or interpret the data it presents; rather, the tool is designed to empower funders, education leaders, and community stakeholders with information about existing relationships between investment dollars and student achievement. 96364 38761 Community Engagement - The Trust is committed to public engagement that includes all voices in support of quality public education for all Newark's children. The Trust seeks to expand outreach, strenghthen 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. 373633 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 X 10 0 true 6 true false false false false false false false false false false false false X 16 16 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 744 BROAD ST 26TH FL NEWARK NJ 07102 X CLEMENT PRICE 1.0 X X 0 0 0 SHAN HARRIS 1.0 X X 0 0 0 MASHEA ASHTON 1.0 X 0 0 0 IRENE COOPER-BASCH 1.0 X 0 0 0 STEVEN DINER 1.0 X 0 0 0 DANIEL GOHL 1.0 X 0 0 0 REV DR M WILLIAM HOWARD JR 1.0 X 0 0 0 CELIA KING 1.0 X 0 0 0 ALFRED KOEPPE 1.0 X 0 0 0 GARIELLA MORRIS 1.0 X 0 0 0 RAYMOND OCASIO 1.0 X 0 0 0 BARBARA REISMAN 1.0 X 0 0 0 JUNIUS WILLIAMS 1.0 X 0 0 0 JOHN SCHREIBER 1.0 X 0 0 0 ANTOINETTE BASKERVILLE-RICHARDSON 1.0 X 0 0 0 Dr Edythe M Abdullah 1.0 X 0 0 0 Ross Danis 40.0 X 230401 0 0 230401 0 0 1 false true false 0 1108209 1108209 MANAGEMENT FEE REVENUE 900099 63645 63645 63645 3208 3208 0 0 0 0 0 0 0 0 0 MISCELLANEOUS INCOME 900099 503 503 503 1175565 64148 3208 25446 25446 13315 13315 0 0 230400 116148 47323 66929 0 133932 68982 25203 39747 0 15859 7995 3257 4607 23850 12023 4899 6928 0 0 36613 36613 0 0 0 110882 100599 8477 1806 1450 1450 24536 888 17506 6142 389 389 0 25950 13082 5330 7538 6562 4723 301 1538 0 14585 4472 9670 443 0 0 4241 2138 871 1232 1144 577 235 332 MISCELLANEOUS 1795 1795 670949 373633 160074 137242 666583 672033 521622 680543 512725 710969 0 0 0 0 0 0 0 0 0 0 1687 1843 12874 8135 7141 4739 0 0 0 0 0 0 0 0 0 0 1709758 2070127 106126 44133 0 0 0 0 0 0 708217 625963 0 0 0 0 0 0 0 0 814343 670096 X 343103 472106 552312 927925 0 0 895415 1400031 1709758 2070127 504616 X false true X true false X 112497 1073880 73372 888412 1108209 3256370 0 0 112497 1073880 73372 888412 1108209 3256370 2264283 992087 1309 3208 4517 0 119 503 622 3261509 123164 0.30418 0.23868 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true 12874 8135 4739 4739 0 0 1175565 1175565 1175565 670949 670949 670949 ASC 740 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, 2013 and 2012. 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. CUSTODIAL ACCOUNT 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 Team Academy Charter School Inc 85 Custer Avenue Newark NJ 07112 010660264 501(C)(3) 7947 0 Shared Campus Grant 1 8 GRANTS PAID TO INDIVIDUALS 24 13315 N/A N/A PART I QUESTION 1 MONITORING OF GRANT AWARDS SEE SCHEDULE O X X false false false false false false false false false Ross Danis 230401 0 0 0 0 0 0 0 0 0 230401 0 0 0 PROVIDING COPIES OF 990 TO GOVERNING MEMBERS 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 CONFLICT OF INTEREST POLICY 990, PART VI, SECTION B, QUESTION 12 THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY TO PROTECT 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. WHISTLEBLOWER POLICY 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. GOVERNING DOCUMENTS 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. COMPENSATION AUTHORIZATION FORM 990, PART VI, SECTION B, QUESTION 15 The board conducts formal evaluations of the executive director based upon goals outlined in the organization's work plan. The executive director submitted an extensive self assessment to the Board Chair and Vice Chair. The executive committee of the board met with the executive director to review the assessment and track progress toward goals. The entire board of directors was surveyed to add evidence and comment on performance. These comments were transcribed and patterns were identified that illustrated areas of strength and areas for growth. This information was then shared with the executive director as well as distributed to the entire board. Simultaneously, the board engaged in benchmarking salary guidelines across the sector in the region. The Council of New Jersey Grantmakers 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 coming year. These goals will be used to inform the next annual performance review and compensation discussion. The salary of the executive director was approved by the board of directors. MONITORING OF GRANT AWARDS SCHEDULE I, PART IV The Collaborative was established to act as a conduit to deploy funds to SchoolY 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 NTE and the Foundation is send to the Grantee with a check 3)Visits and Follow-ups in the form of post evaluation is monitored and managed by NTE 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 NTE office for review 3)After review of initial recommendations made by NTE to Governance Committee 4)Governance committee reviews recommendations and gives final approval with signature of each member 5)Award letters send 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 NTE. 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 NTE and Foundations. All Grant Awards are reconciled to Bank Accounts and on-going balances of funds disbursed and remaining funds are reviewed by Foundation and Program on a regular basis.