Somerset County Business Partnership Foundation

Organization Overview

Somerset County Business Partnership Foundation is located in Bridgewater, NJ. The organization was established in 2000. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, 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. Somerset County Business Partnership 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 12/2021, Somerset County Business Partnership Foundation generated $492.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $523.2k during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE SOMERSET COUNTY BUSINESS PARTNERSHIP IS TO CREATE VIBRANT CONNECTIONS AMONG OUR PUBLIC/PRIVATE PARTNERS, MEMBERS AND BUSINESS COMMUNITY THAT WILL ENABLE US TO BUILD A PROSPEROUS AND SUSTAINABLE FUTURE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SOMERSET COUNTY BUSINESS PARTNERSHIP PROVIDES OUR MEMBERS AND THE BUSINESS COMMUNITY WITH A WIDE RANGE OF BUSINESS RESOURCES INCLUDING NETWORKING,EDUCATIONAL EVENTS AND EDUCATIONAL SERVICES. OUR TOP THREE PROGRAM AREAS ARE MEMBER SERVICES, TOURISM AND ECOMOMIC DEVELOPMENT.


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Board, Officers & Key Employees

Name (title)Compensation
Edward Dolan
Chairperson
$0
Audris Francis
Secretary
$0
Chris Zarelli
Vice Chairperson
$0
Tom Elliott
Treasurer
$0
Chris Edwards
President & CEO
$0
Catherine Rickner
Immediate Past Chairperson
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$35,677
Fundraising events$0
Related organizations$0
Government grants $265,000
All other contributions, gifts, grants, and similar amounts not included above$191,400
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$492,077
Total Program Service Revenue$345
Investment income $0
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 $0
Miscellaneous Revenue$0
Total Revenue $492,922

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