Global Professional Network INC

Iselin, NJ · Business league / trade association · Community Development

✕ IRS exemption revoked Latest data FY2024
Revenue
$88K
▼ -41% vs prior year
Spent
$93K
To programs
0%
Net assets
$101K
By yearFY2020–FY2024
Revenue
$88K
FY2024▼ -41%
Revenue by fiscal year
FY2020Not on file
FY2021$44K
FY2022$210K
FY2023$148K
FY2024$88K
Expenses
$93K
FY2024▲ +21%
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$176K
FY2023$77K
FY2024$93K
Net assets
$101K
FY2024▼ -5%
Net assets by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$34K
FY2023$106K
FY2024$101K
IRS revoked this organization's tax-exempt status on May 15, 2012

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).

Status and standing

Tax-deductible?
No — IRS exemption revoked
On the IRS revocation list.
Can I give now?
No — exemption revoked (2012-05-15)
On the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
Not on file
Spent on programs?
0% to programs
Form 990 Part IX, latest filing.
Size and trend
<$100K
↓ -41% vs prior year
Legal name (IRS)Hdr · item CGlobal Professional Network INC
EINHdr · item D20-2905483
Exempt statusHdr · item IRevoked
Ruling yearIRS BMFAug 2020
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CIselin, NJ
NTEE classificationIRS BMFCommunity Development (S41)

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Management & general $1.00
Management & general100%$93K
Total functional expensesLn 25$93K

Financial health

Operating surplus
-6%
revenue over expenses▼ -112% vs prior filing year
Earned revenue
0%
of revenue from program services & dues
Program spending
0%
of expenses reach member services

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$101K
FY2024▼ -5%
Total assets by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$34K
FY2023$106K
FY2024$101K
Total liabilities
$0
FY2024
Total liabilities by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$0
FY2023$0
FY2024$0
Revenue less expensesPt I · Ln 19−$5K
Total assetsPt X · Ln 16$101K
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 3pending
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$101K
Total assetsLn 16$101K
Total liabilitiesLn 26$0
Total net assetsLn 32$101K
Months of cash on handcomputed13.0

Statement of Revenue

Part VIII
Contributions & grants100%$88K
Total revenueLn 12$88K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $101K · Operating expenses/yr $93K
13.0 months
Where the money goes
Program services
Program services $0 · Total expenses $93K
0%
Management & General
Management & general $93K · Total expenses $93K
100%
Fundraising
Fundraising $0 · Total expenses $93K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $149K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $88K · Total revenue $88K
100%
Government reliance
Government grants — · Total revenue $88K
—
Earned-income share
Program service revenue $0 · Total revenue $88K
0%
Investment reliance
Investment income $0 · Total revenue $88K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $93K
0%
Growth & trend
Revenue growth (YoY)
This year $88K · Prior year $148K
-41%
Net-asset trend (YoY)
End of year $101K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $88K · Expenses $93K
-6%
Liabilities-to-Assets
Total liabilities — · Total assets $101K
—
Net-asset ratio
Net assets $101K · Total assets $101K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $101K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Olumide Olufowobi · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $93K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $93K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Overhead ratio 100%——
Fundraising cost ratio 0%——
Revenue growth -41%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
See Global Professional Network INC executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Global Professional Network INC is a business league or trade association based in Iselin, NJ.

Provided by the organization

This section is blank until Global Professional Network INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

Business networking

Pt IX · col B

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Filing history

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $88K$93K-41% 990 PDF
FY2023 $148K$77K-30% 990 PDF
FY2022 $210K$176K+376% 990 PDF
FY2021 $44K— 990 PDF
FY2020 —— 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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