New Jersey Chamber Of Commerce Foundation
- Assets
- $380.2k
- Revenue
- $381.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Trenton, NJ
- Founding
- 08/1997
- Data as of
- 06/2022
- EIN
- 22-3490986
Organization Overview
New Jersey Chamber Of Commerce Foundation is located in Trenton, NJ. The organization was established in 1997. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. New Jersey Chamber Of Commerce Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, New Jersey Chamber Of Commerce Foundation generated $381.1k 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 (6.6%) each year. All expenses for the organization totaled $430.1k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 2021-22 ACADEMIC YEAR, THE NJCCF IMPLEMENTED 11 PROGRAMS ACROSS THE STATE. MOST TEAM TRAINING, SITE VISITS, STUDENT CONFERENCES AND TECHNICAL ASSISTANCE SESSIONS WERE HELD VIRTUALLY.
PRODUCT SALES AND SERVICES-THE NJCCF HAS DEVELOPED MULTIPLE PRODUCTS AND SERVICES FOR USE BY NON-PROFITS, K-12 SCHOOLS, COMMUNITY-BASED ORGANIZATIONS IN ORDER TO ENSURE THAT ALL STUDENTS GRADUATE FROM HIGH SCHOOL READY FOR POST-SECONDARY EDUCATION, WORK AND LIFE. PROGRAMS, GAMES AND WORKSHOPS PROVIDE STUDENTS WITH NATIONAL RESEARCH, ENGAGING PRESENTATIONS, MEANINGFUL SIMULATIONS, DYNAMIC DISCUSSIONS, COMPETITIVE TEAM GAMES, AND INTERACTIONS WITH BUSINESS PEOPLE, TO ENSURE STUDENTS ACHIEVE OPTIMAL HIGH SCHOOL OUTCOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Bracken Treasurer | OfficerTrustee | 0.5 | $0 |
James V Fakult Chairman | OfficerTrustee | 0.5 | $0 |
Gary C Dahms First Vice Chair | OfficerTrustee | 0.5 | $0 |
Gil Medina Second Vice Chair | OfficerTrustee | 0.5 | $0 |
Marjorie Perry Secretary | OfficerTrustee | 0.5 | $0 |
Jennifer Stegers Accounting Manager | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $262,945 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $362,945 |
| Total Program Service Revenue | $15,000 |
| Investment income | $318 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,675 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $381,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $300,731 |
| Compensation of current officers, directors, key employees. | $61,890 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,198 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,242 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $72 |
| Office expenses | $13,006 |
| Information technology | $10,529 |
| Royalties | $0 |
| Occupancy | $31,500 |
| Travel | $5,301 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,085 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,701 |
| All other expenses | $0 |
| Total functional expenses | $430,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,007 |
| Savings and temporary cash investments | $371,240 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,963 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $380,210 |
| Accounts payable and accrued expenses | $29,502 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,067 |
| Total liabilities | $189,569 |
| Net assets without donor restrictions | $144,177 |
| Net assets with donor restrictions | $46,464 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $380,210 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that New Jersey Chamber Of Commerce Foundation has recieved totaling $227,538.
| Awarding Organization | Amount |
|---|---|
Victoria Foundation Inc Newark, NJ PURPOSE: JOBS FOR NEW JERSEY'S GRADUATES | $90,000 |
Maher Charitable Foundation Florham Park, NJ PURPOSE: JOBS FOR NEW JERSEY GRADUATES PROGRAM | $50,000 |
Victoria Foundation Inc Newark, NJ PURPOSE: TO SUPPORT GENERAL OPERATING PURPOSES FOR JOBS FOR NJ'S GRADUATES | $30,000 |
Deloitte Foundation Stamford, CT PURPOSE: MARKETPLACE GRANT | $25,000 |
Webster Bank Charitable Foundation Wilmington, DE PURPOSE: JOBS FOR AMERICA'S GRADUATES NEW JERSEY | $10,000 |
Roma Bank Community Foundation Inc Short Hills, NJ PURPOSE: GENERAL PURPOSE | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nysa-Ila Container Royalty Fund Jersey City, NJ | $55,480,172 | $104,394,382 |
Unsatisfied Claims & Judgement Fund Basking Ridge, NJ | $69,007,782 | $67,404,449 |
Gs1 Us Inc Ewing, NJ | $478,037,755 | $93,863,501 |
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |
Workers Compensation Security Fund Basking Ridge, NJ | $229,766,675 | $28,644,741 |