Overview
What is University Heights Science And Technology Park Inc?
University Heights Science and Technology Park Inc is a nonprofit organization with a mission to stimulate economic and scientific research within Newark's higher educational institutions. By leveraging this research, they aim to entice new businesses to the University Heights neighborhood. Established to foster both economic and community development, the organization supports technology-driven and other enterprises that harness Newark's scientific research. Their ultimate goal is to revitalize the local economy and contribute to the community's growth.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40%
University Heights Science And Technology Park Inc has received a Zero-Star out of Four Star rating from Charity Navigator, primarily due to its low score in Accountability & Finance. The organization scored 40% overall, indicating significant concerns regarding its financial practices and governance. Although it has a fully independent board and no material diversion of assets, there are critical areas needing improvement, such as missing policies for whistleblowing and document retention.
The organization does have strengths, including a high score for board independence and a conflict of interest policy. However, it has a concerning program expense ratio of only 0.75%, suggesting that a minimal portion of its expenses is directed towards its programs. Additionally, the liabilities to assets ratio is alarmingly high at 1.01%, which could imply potential financial instability.
Overall, while University Heights Science And Technology Park Inc demonstrates some strong governance practices, its low financial accountability score raises red flags about its operational management and effectiveness in fulfilling its mission. Improvements in financial transparency and program funding are essential for enhancing its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is University Heights Science And Technology Park Inc legitimate?
University Heights Science And Technology Park Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Heights Science And Technology Park Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of University Heights Science And Technology Park Inc?
University Heights Science and Technology Park Inc's mission is to stimulate economic and scientific research within Newark's higher educational institutions. By utilizing this research as a catalyst, the organization aims to draw new businesses to the University Heights district. Established with the purpose of fostering economic and community development, University Heights Science and Technology Park promotes the growth of technology-based and other enterprises that can leverage the area's scientific research capabilities.
Who is the CEO of University Heights Science And Technology Park Inc?
Dr Nancy Cantor is the Trustee of University Heights Science And Technology Park Inc.
What is the revenue of University Heights Science And Technology Park Inc?
University Heights Science And Technology Park Inc's revenue in 2022 was $60,887.
Who are the executives of University Heights Science And Technology Park Inc and what are their salaries?
There 10 volunteers at University Heights Science And Technology Park Inc.
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Where can I find the form 990 for University Heights Science And Technology Park Inc?
University Heights Science And Technology Park Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of University Heights Science And Technology Park Inc
University Heights Science and Technology Park, as a nonprofit organization, is committed to serving as a catalyst for economic and scientific research within Newark's higher educational institutions. Its mission is twofold: firstly, to utilize this research as a driving force to attract new enterprises to the University Heights neighborhood. Secondly, the organization strives to promote economic and community development by supporting technology-based and other enterprises that leverage the area's scientific research. In essence, University Heights Science and Technology Park aims to foster a thriving ecosystem of innovation and entrepreneurship, leveraging the intellectual resources of its higher education institutions. This mission is designed to enhance the economic vitality of the University Heights neighborhood.
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Impact
August, 2024
University Heights Science And Technology Park Inc serves as a catalyst for economic and scientific research at Newark's higher institutions to attract new enterprises to the University Heights neighborhood. By promoting economic and community development through technology-based enterprises that leverage Newark's scientific research, the organization plays a vital role in driving innovation and growth in the region. Through its mission to catalyze research and attract new businesses, University Heights Science And Technology Park Inc has a significant impact on boosting the local economy and fostering a culture of innovation in the community.
This information is meant to be a general summary of University Heights Science And Technology Park Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $137
- Program Service Revenue: $60,750
- Gross Receipts: $60,887
Assets and Liabilities:
- Total Assets: $3,588,617
- Total Liabilities: $15,846
- Net Assets: $3,572,771
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$60,750
Organization Details
Founding Year
2006
Phone
(973) 972-2200Principal Officer
Dr Nancy Cantor
Main Address
Fenster Hall Room 577, Newark, NJ, 07102
NTEE Category
Code: S30Z - Community improvement
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