Nan Newark Tech World

Analysis

Nan Newark Tech World is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Nan Newark Tech World reported income of $734k and spending of $1.1m, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $653k to $734k (+12%), an average of +3.0% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Nan Newark Tech World sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within NJ. Charities of a similar size with the same main cause include Tech Collective-Workforce Development Fund Inc ($734k), Association of Early Learning Coalitions Inc ($734k) and Mystic & Noank Library Inc ($734k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $190k (17% of expenses). Other salaries and wages came to $366k. At year end it held assets of $324k against liabilities of $288k, net assets of $36k. It reported 20 employees.