Form 990 for tax year 2023
Filed by NEW JERSEY CHAMBER OF COMMERCE FOUNDATION.
Totals
- Total revenue
- $1,206,981
- Total expenses
- $907,623
- Contributions and grants received
- $1,136,598
- Grants paid
- $128,373
- Program service revenue
- $50,000
- Investment income
- $23,865
- Other revenue
- -$3,482
- Total assets, end of year
- $1,034,938
- Total liabilities, end of year
- $249,255
- Net assets or fund balances, end of year
- $785,683
- Program services expenses (Part IX)
- $714,234
- Management and general expenses
- $137,572
- Fundraising expenses
- $55,817
- Program service expenses (Part III)
- $714,234
Program services were 78.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$94,755
-
1e · Government grants (contributions)
$678,242
-
1f · All other contributions, gifts and grants
$363,601
-
2a · Program service revenue: JAG NJ AFFILIATION FEE
total $50,000 · related or exempt $50,000
-
3 · Investment income
total $23,865 · excluded $23,865
-
8a · Fundraising events: gross income
$54,000
-
8a · Fundraising events: contributions included on line 1c
$94,755
-
8b · Fundraising events: direct expenses
$63,050
-
8c · Net income from fundraising events
total -$9,050 · excluded -$9,050
-
10a · Gross sales of inventory
$5,550
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $5,550 · related or exempt $5,550
-
11a · Other revenue: SHIPPING INCOME
total $18 · related or exempt $18
-
11e · Other revenue, total
$18
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $128,373 · program services $128,373
-
5 · Compensation of officers, directors and key employees
total $458,180 · program services $376,747 · management and general $44,900 · fundraising $36,533
-
7 · Other salaries and wages
total $55,049 · program services $48,981 · management and general $6,068
-
9 · Other employee benefits
total $2,470 · program services $2,015 · management and general $455
-
10 · Payroll taxes
total $35,337 · program services $28,838 · management and general $3,843 · fundraising $2,656
-
11c · Fees: accounting
total $27,484 · program services $2,834 · management and general $24,650
-
11e · Fees: professional fundraising services
total $14,400 · fundraising $14,400
-
12 · Advertising and promotion
total $3,674 · program services $3,338 · management and general $336
-
13 · Office expenses
total $46,351 · program services $39,968 · management and general $5,896 · fundraising $487
-
14 · Information technology
total $11,468 · program services $2,935 · management and general $8,533
-
16 · Occupancy
total $42,000 · program services $10,500 · management and general $31,500
-
17 · Travel
total $17,758 · program services $14,967 · management and general $1,779 · fundraising $1,012
-
19 · Conferences, conventions and meetings
total $20,924 · program services $20,924
-
20 · Interest
total $4,136 · management and general $4,136
-
23 · Insurance
total $6,591 · program services $1,774 · management and general $4,817
-
24a · Other expenses: JAG NATIONAL AFFILIATIO
total $25,278 · program services $25,040 · management and general $9 · fundraising $229
-
24b · Other expenses: JAG SPECIALIST AWARDS
total $7,000 · program services $7,000
-
24c · Other expenses: MISCELLANEOUS
total $1,150 · program services $0 · management and general $650 · fundraising $500
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,093 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $295,638 · end of year $784,015
-
3 · Pledges and grants receivable
beginning of year $407,960 · end of year $248,466
-
4 · Accounts receivable
beginning of year $3,270
-
9 · Prepaid expenses and deferred charges
beginning of year $2,881 · end of year $2,457
-
10a · Land, buildings and equipment: cost or other basis
$31,274
-
10b · Land, buildings and equipment: accumulated depreciation
$31,274
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $68,837 · end of year $83,297
-
19 · Deferred revenue
end of year $5,000
-
23 · Secured mortgages and notes payable
beginning of year $150,000 · end of year $150,000
-
25 · Other liabilities
beginning of year $10,680 · end of year $10,958
-
27 · Net assets without donor restrictions
beginning of year $87,627 · end of year $113,104
-
28 · Net assets with donor restrictions
beginning of year $398,698 · end of year $672,579
Mission and programs · 2023
Mission
THE FOUNDATION'S MISSION IS TO SUPPORT CURRENT AND FUTURE MEMBERS OF THE WORKFORCE IN BECOMING GLOBALLY COMPETITIVE, SUCCESSFUL MEMBERS OF SOCIETY AND TO FUEL NEW JERSEY'S ECONOMY BY SUSTAINING A QUALIFIED WORKFORCE.
-
JAG - JOBS FOR AMERICA'S GRADUATES NEW JERSEY (JAG NJ) IS THE STATE AFFILIATE OF THE NATIONAL JOBS FOR AMERICA'S GRADUATES (JAG) INITIATIVE - A STATE-BASED NATIONAL NON-PROFIT ORGANIZATION DEDICATED TO KEEPING YOUTH OF GREAT PROMISE (FORMERLY KNOWN AS "AT-RISK") IN SCHOOL THROUGH GRADUATION. THE PROGRAM TARGETS HIGH SCHOOL STUDENTS WITH AT LEAST SIX ACADEMIC, ENVIRONMENTAL, PHYSICAL, PSYCHOLOGICAL, INCOME OR WORK-RELATED BARRIERS TO SUCCESS, AND OFFERS REAL-WORLD LEARNING EXPERIENCES THAT DEMONSTRATE HOW STAYING IN HIGH SCHOOL AND EARNING A DIPLOMA CAN ENHANCE THEIR LIVES. THE ULTIMATE GOAL OF THE PROGRAM IS TO ENSURE THAT PARTICIPATING STUDENTS GRADUATE FROM HIGH SCHOOL PREPARED FOR THE CHALLENGES OF POST-SECONDARY EDUCATION, MILITARY SERVICE AND THE WORKFORCE SO THAT THEY CAN BREAK THE CYCLE OF POVERTY AND BECOME PRODUCTIVE, CONTRIBUTING MEMBERS OF THEIR COMMUNITIES. FOR THE 2023-24 ACADEMIC YEAR, THE NJCCF IMPLEMENTED 18 PROGRAMS IN PASSAIC, NEWARK, NEW BRUNSWICK, CARTERET, LITTLE EGG HARBOR, PLAINFIELD, CAMDEN, VINELAND AND ATLANTIC CITY.
Expenses $711,334 · Grants $128,373 · Revenue $50,000
-
PRODUCT SALES AND SERVICES--OVER THE PAST SEVERAL YEARS, REVENUE FROM NJCCF'S PROGRAMS HAS DECLINED, WITH ONLY THE SCHOOL COUNTS PROGRAM GENERATING INCOME DURING THE LAST TWO FISCAL YEARS. THIS PROGRAM WAS UTILIZED BY A LIMITED NUMBER OF HIGH SCHOOLS IN CUMBERLAND COUNTY IN PARTNERSHIP WITH ROWAN COLLEGE OF SOUTH JERSEY CUMBERLAND. DUE TO THE MINIMAL REVENUE GENERATED, NJCCF MADE THE STRATEGIC DECISION TO SELL THE SCHOOL COUNTS PROGRAM TO THE CUMBERLAND COUNTY CAMPUS EDUCATIONAL FOUNDATION OF ROWAN COLLEGE OF SOUTH JERSEY CUMBERLAND FOR $5,000. AS PART OF THE SALE, NJCCF TRANSFERRED OWNERSHIP OF ALL ASSOCIATED LOGOS, DIGITAL ASSETS, THE PROGRAM'S URL, AND SERVICE MARK TO THE FOUNDATION IN JUNE 2024.
Expenses $2,900 · Revenue $5,568
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
THOMAS BRACKEN
TREASURER
- Total calculated
- $581,112
- From this org
- $0
- From related orgs
- $558,200
- Other
- $22,912
- Hours/week
- 0.5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $433,200 related
- Bonus
- $0 + $125,000 related
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $22,912 related
- Filer's total
- $0 + $581,112 related
-
DONNA CUSTARD
PRESIDENT
- Total calculated
- $172,291
- From this org
- $0
- From related orgs
- $147,552
- Other
- $24,739
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $147,552 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $4,658 related
- Nontaxable benefits
- $0 + $20,081 related
- Filer's total
- $0 + $172,291 related
-
SANDRA GLOVER-STROTHERS
EXECUTIVE DIRECTOR, JAG NJ
- Total calculated
- $134,890
- From this org
- $0
- From related orgs
- $108,688
- Other
- $26,202
- Hours/week
- 40
-
JENNIFER STEGERS
ACCOUNTING MANAGER
- Total calculated
- $91,439
- From this org
- $0
- From related orgs
- $62,398
- Other
- $29,041
- Hours/week
- 40
-
DR STEVEN M ROSE
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
WALTER J BRASCH CPA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
LISA CHOWANSKY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
GARY C DAHMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
SAMUEL L DONELSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
DOUG MOKOID
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
WILLIAM R HAGAMAN JR CPA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
CHRISTOPHER M LEPRE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
GIL MEDINA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
BRAXTON PLUMMER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
MIKE REAGAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
DENNIS M TOFT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
DIANE WASSER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
DENNIS G WILSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
TED ZANGARI ESQ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- FORM 990, SCHEDULE J, LINE 3:
- ALL SALARIES OF THE FOUNDATION ARE THOSE OF EMPLOYEES OF THE RELATED ORGANIZATION, NEW JERSEY STATE CHAMBER OF COMMERCE. THE FOUNDATION REIMBURSED NEW JERSEY STATE CHAMBER OF COMMERCE FOR SALARIES AND RELATED EXPENSES. NEW JERSEY STATE CHAMBER OF COMMERCE USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION OF THE PRESIDENT OF THE FOUNDATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$72,456
JAG NJ
-
$55,917
JAG NJ
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
NEW JERSEY STATE CHAMBER OF COMMERCE INC
501(C)(6) · ADVOCACY FOR BUSINESSES IN THE STATE OF NEW JERSEY · NJ
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 11 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540709349301174
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