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Newark Post Office Employees

Newark, NJUnknown exempt organizationEIN 22-1409177Revenue $25K in FY2024

On file with the IRSPo Box 1570 · Newark, NJ

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Credit union providing financial services to its member owners

Mission: Form 990 Part I, line 1

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $1K a year · 2% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
460 mo
of spending, in cash
Looks good: 460.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.5M
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$25K
-17% vs prior year
Spent
$45K
To programs
0%
Net assets
$754K
By yearFY2020–FY2024
Revenue
$25K
FY2024▼ -17%
Tap a bar for its year
Revenue by fiscal year
FY2020$195K
FY2021$126K
FY2022$61K
FY2023$30K
FY2024$25K
Expenses
$45K
FY2024▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$161K
FY2021$130K
FY2022$74K
FY2023$35K
FY2024$45K
Net assets
$754K
FY2024▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.0M
FY2021$1.0M
FY2022$918K
FY2023$878K
FY2024$754K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $45K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Cedric McPherson
Board Presid
$0Pt VII · Sec A
Ed Dennis
Board Treasu
$0Pt VII · Sec A
Lisa Hunt Sharif
Board Secret
$0Pt VII · Sec A
$0Pt VII · Sec A
Monica Lewis
Board Member
$0Pt VII · Sec A
See Newark Post Office Employees executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers financial services to its member owners.

Questions for Newark Post Office Employees

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Your first name shows with your question. Newark Post Office Employees answers here, for everyone.

Provided by the organization

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1 program · in their own filed words · FY2024
01

Credit union providing financial services to its member owners

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$25K
Ln 12
Investment incomeLn 3$25K
Money outPt IX
$45K
Ln 25
Managementcol C$45K
Owns and owesPt X
$754K
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$2.3M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$25K
Total revenueLn 12$25K
Assets in detailPt X, end of year
CashLn 1$52K
SavingsLn 2$1.7M
Cash and savings togetherLn 1–2$1.7M
Other assetsLn 15$7K
Total assetsLn 16$2.3M
LiabilitiesLn 26$1.5M
Net assetsLn 32$754K
OperationsPt I, VI
EmployeesI 59
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.9M$1.7M
Total assetsLn 16$2.5M$2.3M
LiabilitiesLn 26$1.6M$1.5M
Net assetsLn 32$878K$754K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$16K$16K
Payroll taxesLn 10$5K$5K
Office expensesLn 13$3K$3K
TravelLn 17$2K$2K
Other expenses (24a–d)Ln 24$19K$19K
Total functional expensesLn 25$45K$0$45K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $25K$45K−$19K$754K 990 PDF
FY2023 $30K$35K−$5K$878K 990 PDF
FY2022 $61K$74K−$12K$918K 990 PDF
FY2021 $126K$130K−$4K$1.0M 990 PDF
FY2020 $195K$161K$34K$1.0M 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
See the full FY2024 990 (6 parts)
Part I · Summary $25,256 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $29,600$25,256
I-11 Other revenuePrior year $670$0
I-12 Total revenuePrior year $30,270$25,256
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $17,532$21,385
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $17,442$23,283
I-18 Total expensesPrior year $34,974$44,668
I-19 Revenue less expensesPrior year −$4,704−$19,412
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $25,256 across 2 lines filed
VIII-3 Investment incomeRelated to mission $18,867 · Excluded from tax $6,389$25,256
VIII-12 Total revenueRelated to mission $18,867 · Excluded from tax $6,389$25,256
Part IX · Statement of functional expenses $44,668 across 5 lines filed
IX-6 Pay of disqualified personsManagement $16,343$16,343
IX-10 Payroll taxesManagement $5,042$5,042
IX-13 Office expensesManagement $2,887$2,887
IX-17 TravelManagement $1,576$1,576
IX-24 Other expenses (24a–d)Management $18,820$18,820
IX-25 Total functional expensesPrograms $0 · Management $44,668 · Fundraising $0$44,668
Part X · Balance sheet $2,277,715 assets, 10 lines filed
Asset lines not itemized here account for $545,033; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $51,961$51,644
X-2 Savings and temporary cash investmentsStart of year $1,845,949$1,660,777
X-9 Prepaid expenses and deferred chargesStart of year $2,300$12,904
X-15 Other assetsStart of year $7,200$7,357
X-16 Total assetsStart of year $2,510,900$2,277,715
X-17 Accounts payable and accrued expensesStart of year $3,082$11,577
X-25 Other liabilitiesStart of year $1,629,503$1,512,634
X-26 Total liabilitiesStart of year $1,632,585$1,524,211
X-32 Total net assets or fund balancesStart of year $878,315$753,504
X-33 Total liabilities and net assetsStart of year $2,510,900$2,277,715
Part XI · Reconciliation of net assets $753,504 net assets at year end
XI-1 Total revenue$25,256
XI-2 Total expenses$44,668
XI-3 Revenue less expenses−$19,412
XI-4 Net assets at start of year$878,315
XI-8 Prior period adjustments−$105,399
XI-10 Net assets at end of year$753,504

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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