Nonprofit · EIN 20-2247312
GREATER NEWARK ENTERPRISES CORPORATION
Tax-exempt · NEWARK, NJ 07103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $2,311,849 | $1,993,336 | $318,513 | $7,645,215 | $1,798,838 | $5,846,377 |
| December 31, 2024 | 990 | $2,936,594 | $1,643,469 | $1,293,125 | $7,082,213 | $1,554,349 | $5,527,864 |
| December 31, 2023 | 990 | $1,635,461 | $1,793,174 | -$157,713 | $5,090,503 | $855,763 | $4,234,740 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $2,000,170
- Program service revenue
- $258,662
- Investment income
- $53,017
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $241,667
- Other salaries and wages
- $526,653
- Salaries, compensation and benefits (total)
- $906,726
- Professional fundraising fees
- $0
- Legal fees
- $1,898
- Accounting fees
- $51,600
- Travel
- $27,362
- Depreciation
- $14,799
- Program services (functional)
- $1,671,357
- Management and general (functional)
- $220,459
- Fundraising (functional)
- $101,520
Balance sheet and other
- Total assets, start of year
- $7,082,213
- Total assets, end of year
- $7,645,215
- Total liabilities, end of year
- $1,798,838
- Net assets, end of year
- $5,846,377
- Land, buildings and equipment
- $8,536
- Net assets without donor restrictions
- $4,012,169
- Net assets with donor restrictions
- $1,834,208
- Gross receipts
- $2,311,849
- Employees
- 10
- Volunteers
- 35
- Year formed
- 2005
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VICTOR SALAMA | EXECUTIVE DIRECTOR | 40 | $241,667 |
| DESIREE SEALEY | Director | 40 | $116,458 |
| KHADY COPELAND | Director | 40 | $109,573 |
| ONEL VILARES | Director | 40 | $102,750 |
| YANE ARIAS | Trustee Trustee or director | 0.5 | $0 |
| GUSTAVO ABREU | Trustee Trustee or director | 0.5 | $0 |
| AMIT AIREN | Trustee Trustee or director | 0.5 | $0 |
| DOMINICK BELFORE | Chairman Trustee or director, Officer | 0.5 | $0 |
| CHRIS MURPHY | Trustee Trustee or director | 0.5 | $0 |
| KATERINA ZACHARIA | Trustee Trustee or director | 0.5 | $0 |
| THERONE HOPKINS | Trustee Trustee or director | 0.5 | $0 |
| CARLTON WEST | Trustee Trustee or director | 0.5 | $0 |
| JULIAN IBANEZ | Trustee Trustee or director | 0.5 | $0 |
| JOHN SUWATSON | Secretary Trustee or director, Officer | 0.5 | $0 |
| JUDITH SHEFT | Trustee Trustee or director | 0.5 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| AVI TELYAS | Treasurer Trustee or director, Officer | 0.5 | $0 |
| GLENN CARROLL | Trustee Trustee or director | 0.5 | $0 |
| KEN BLAND | Trustee Trustee or director | 0.5 | $0 |
| TAMARA MANGUM | Trustee Trustee or director | 0.5 | $0 |
| SIBUSISIWE MALABA | Trustee Trustee or director | 0.5 | $0 |
| FERLANDA FOX NIXON | Trustee Trustee or director | 0.5 | $0 |
| DERICK MUNDY | Trustee Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2024: 16 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VICTOR SALAMA | EXECUTIVE DIRECTOR | 40 | $229,583 |
| YANE ARIAS | Trustee Trustee or director | 0.2 | $0 |
| GUSTAVO ABREU | Trustee Trustee or director | 0.2 | $0 |
| AMIT AIREN | Trustee Trustee or director | 0.2 | $0 |
| DOMINICK BELFORE | Trustee Trustee or director | 0.2 | $0 |
| CHRIS MURPHY | Trustee Trustee or director | 0.2 | $0 |
| KATERINA ZACHARIA | Trustee Trustee or director | 0.2 | $0 |
| THERONE HOPKINS | Trustee Trustee or director | 0.2 | $0 |
| CARLTON WEST | Trustee Trustee or director | 0.2 | $0 |
| JULIAN IBANEZ | Trustee Trustee or director | 0.2 | $0 |
| JOHN SUWATSON | Secretary Trustee or director, Officer | 0.2 | $0 |
| JUDITH SHEFT | Chairman Trustee or director, Officer | 1 | $0 |
| AVI TELYAS | Treasurer Trustee or director, Officer | 0.2 | $0 |
| GLENN CARROLL | Trustee Trustee or director | 0.2 | $0 |
| KEN BLAND | Trustee Trustee or director | 0.2 | $0 |
| TAMARA MANGUM | Trustee Trustee or director | 0.2 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VICTOR SALAMA | EXECUTIVE DIRECTOR | 40 | $220,116 |
| YANE ARIAS | Trustee Trustee or director | 0.2 | $0 |
| TAMARA MANGUM-THOMAS | Trustee Trustee or director | 0.2 | $0 |
| CHIP HALLOCK | Trustee Trustee or director | 0.2 | $0 |
| CHRIS MURPHY | Trustee Trustee or director | 0.2 | $0 |
| THERONE HOPKINS | Trustee Trustee or director | 0.2 | $0 |
| CARLTON WEST | Trustee Trustee or director | 0.2 | $0 |
| JULIAN IBANEZ | Trustee Trustee or director | 0.2 | $0 |
| JOHN SUWATSON | Secretary Trustee or director, Officer | 0.2 | $0 |
| JUDITH SHEFT | Chairman Trustee or director, Officer | 1 | $0 |
| AVI TELYAS | Treasurer Trustee or director, Officer | 0.2 | $0 |
| GLENN CARROLL | Trustee Trustee or director | 0.2 | $0 |
| KATERINA ZACHARIA | Trustee Trustee or director | 0.2 | $0 |
| AZHOON F ABDULGHANI | Trustee Trustee or director | 0.2 | $0 |
| Amit Airen | Trustee Trustee or director | 0.2 | $0 |
Address and contacts
- Address (IRS master file)
- 211 WARREN STREET 423, NEWARK, NJ 07103-3568
- Principal officer (990 for 2025)
- VICTOR SALAMA
- Signed the 990
- JOHN SUWATSON, Secretary
- Phone
- (973) 242-5563
- Website
- www.gnecorp.org
- Return prepared by
- SAMUEL KLEIN AND COMPANY
Mission
THE GREATER NEWARK ENTERPRISES CORPORATION (GNEC) MAKES LOANS AND INVESTMENTS IN PROGRAMS IN URBAN COMMUNITIES ENGAGED IN THE FOLLOWING WEALTH-CREATION STRATEGIES: PROVIDING FINANCIAL SERVICES, LOANS AND INVESTMENTS, OFFERING TRAINING AND MENTORING, INFORMATION AND REFERRAL SUPPORT. THE GNEC SEMINARS COVERS TAXES, MARKETING AND SALES, PURCHASING AND INVENTORY.
Program accomplishments
- THE GREATER NEWARK ENTERPRISES CORPORATION (GNEC) PROVIDED FINANCIAL AND TECHNICAL ASSISTANCE TO NUMEROUS CLIENTS WHICH INCLUDE SMALL BUSINESSES OWNED BY WOMEN, LOW INCOME INDIVIDUALS AND MINORITIES TO ENCOURAGE ENTREPRENEURSHIP.Expenses $1,671,357
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 20-2247312
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2007
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S43)
- Assets (IRS master file)
- $7,645,215
- Income (IRS master file)
- $2,311,849
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $2,311,849 | $1,993,336 | $7,645,215 | XML |
| 990 | December 2024 | $2,936,594 | $1,643,469 | $7,082,213 | XML |
| 990 | December 2023 | $1,635,461 | $1,793,174 | $5,090,503 | XML |
| 990 | December 2022 | $2,347,648 | $1,442,466 | $5,136,041 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 20-2247312).
Questions about GREATER NEWARK ENTERPRISES CORPORATION
- What is the EIN of GREATER NEWARK ENTERPRISES CORPORATION?
- The employer identification number (EIN) of GREATER NEWARK ENTERPRISES CORPORATION is 20-2247312.
- Is GREATER NEWARK ENTERPRISES CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to GREATER NEWARK ENTERPRISES CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GREATER NEWARK ENTERPRISES CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GREATER NEWARK ENTERPRISES CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GREATER NEWARK ENTERPRISES CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of GREATER NEWARK ENTERPRISES CORPORATION?
- The 990 for the year ended December 31, 2025 names VICTOR SALAMA.
- Who are the officers and directors of GREATER NEWARK ENTERPRISES CORPORATION?
- The 990 for the year ended December 31, 2025 lists 22 people; 4 received compensation from the organization, the highest $241,667 (VICTOR SALAMA, EXECUTIVE DIRECTOR).
- How much revenue does GREATER NEWARK ENTERPRISES CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $2,311,849, expenses of $1,993,336 and total assets of $7,645,215 at year end.
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