African-American Chamber of Commerce of New Jersey

EIN: 061820423 501(c)(3) Community Improvement

Trenton, NJ

Total Revenue
$5,226,123
Total Expenses
$4,863,104
Total Assets
$3,277,018
Net Assets
$1,990,126
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
NJ
Phone
6097511620
Tax Period
2023-01-01 to 2023-12-31

African-American Chamber of Commerce of New Jersey, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $5.2M in total revenue in fiscal year 2023. Revenue surged 70% from the prior year, signaling strong growth momentum. Expenses of $4.9M left a modest 7% surplus.

Mission

African-American Chamber of Commerce of New Jersey(AACCNJ is dedicated to economically empowering and sustaining African-American communities through entrepreneurship and capitalistic activities within the State of New Jersey and interaction with the National Black Chamber of Commerce, Inc (NBCC)

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,978,133
Program Service Revenue $950,335
Investment Income $0
Other Revenue $297,655
TOTAL REVENUE $5,226,123

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,043,872
Fundraising Expenses $0
Program Expenses $4,343,634
Other Expenses $2,819,232
TOTAL EXPENSES $4,863,104

Year-over-Year Comparison

2023 2022 Change
Revenue $5,226,123 $3,067,074 +0.7%
Expenses $4,863,104 $2,830,963 +0.7%
Net Income $363,019 $236,111 +0.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
14
Employees
12
Volunteers
12

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$329,981
Total Directors
13
$0
Key Employees
1
$329,981
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John E Harmon President/Chief Executive Officer 50.00
Officer Key Emp Highest
$329,981 $0 $329,981
R Stanley Prater Chairman 4.00
Director
$0 $0 $0
Erik Larsen Director/ AACCNJ Foundation Board 2.00
Director
$0 $0 $0
Marcus Dyer Esq Director/Treasurer 5.00
Director
$0 $0 $0
Robert Warrington Esq Vice Chairman 5.00
Director
$0 $0 $0
Rachael Ankrah -Fosu Director 2.00
Director
$0 $0 $0
Faye Coleman Director 2.00
Director
$0 $0 $0
Robert L Johnson Director 2.00
Director
$0 $0 $0
Hosea Johnson Director/Emeritus Board Member 2.00
Director
$0 $0 $0
Raymond K Jones Director 2.00
Director
$0 $0 $0
Kim Lemon Director 2.00
Director
$0 $0 $0
Gary Mann Director 2.00
Director
$0 $0 $0
Funke Olayinka MD Director 2.00
Director
$0 $0 $0
Alton Shaw Director 2.00
Director
$0 $0 $0
Tammeisha D Smith Director N/A
$0 $0 $0
Will Smith Director N/A
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $5,226,123 $4,863,104 $3,277,018 $363,019
2022 $3,067,074 $2,830,963 $2,861,249 $236,111
2021 $2,778,922 $2,031,924 $1,858,705 $746,998
2020 $1,813,698 $1,618,913 $1,196,386 $194,785
2019 $1,584,191 $1,521,991 $713,380 $62,200
2018 $1,353,832 $1,234,699 $542,554 $119,133
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