Somerville Business & Professional Association
- Assets
- $46.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Somerville, NJ
- Founding
- 02/1981
- Data as of
- 12/2021
- EIN
- 22-2322722
Organization Overview
Somerville Business & Professional Association is located in Somerville, NJ. The organization was established in 1981. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerville Business & Professional Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Somerville Business & Professional Association generated $713.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (42.6%) each year. All expenses for the organization totaled $8.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
THE PROMOTION AND ADVERTISING OF BUSINESSES WITHIN THE TOWN OF SOMERVILLE, NJ.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Ivers President | 1 | $0 | |
Lorraine Sarra Secretary | 3 | $0 | |
Jim O'gorman Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $200 |
| Membership dues | $500 |
| Investment income | $13 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $713 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $3,885 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $144 |
| Other expenses | $4,762 |
| Total expenses | $8,791 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $46,482 |
| Other assets | $0 |
| Total assets | $46,482 |
| Total liabilities | $0 |
| Net assets or fund balances | $46,482 |
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