Mortgage Bankers Association Of N J

Organization Overview

Mortgage Bankers Association Of N J is located in Freehold, NJ. The organization was established in 1967. According to its NTEE Classification (W01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Mortgage Bankers Association Of N J employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mortgage Bankers Association Of N J 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 12/2023, Mortgage Bankers Association Of N J generated $313.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $360.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.8%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

PROFESSIONAL ASSOCIATION OF NEW JERSEY MORTGAGE BANKERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO SUPPORT THE MORTGAGE BANKING INDUSTRY IN NEW JERSEY BY SERVING APPROXIMATELY 300 COMPANIES WITH OVER 1000 INDIVIDUAL MEMBERS THROUGH EDUCATIONAL FORUMS CONSISTING OF AN ANNUAL REGIONAL CONFERENCE AND VARIOUS SEMINARS AND MEETINGS THROUGHOUT THE YEAR.


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Board, Officers & Key Employees

Name (title)Compensation
E Robert Levy
Esq.
$85,000
Samuel Lamparello
Cmb
$0
Paul Chiarelli
Treasurer
$0
Matt Vanfossen
President
$0
Taylor Stork
Treasurer
$0
Justin Demola
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$16,006
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$112,317
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$128,323
Total Program Service Revenue$187,390
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 -$2,349
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $313,364

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