HACKETTSTOWN BUSINESS IMPROVEMENT (EIN 202535990) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

KATHI HOMENICK

Phone

9088505004

Tax Period

2023-01-01 to 2023-12-31

HACKETTSTOWN BUSINESS IMPROVEMENT, founded in 2004, is a small nonprofit in the Human Services sector that reported $348K in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $392K exceeded revenue, resulting in a 13% operating deficit.

Mission

TO OPERATE A BUSINESS IMPROVEMENT DISTRICT AND TO FUNCTION AS A DISTRICT MANAGEMENT CORPORATION UNDER NJ DISTRICT MANAGEMENT ACT OF 1984. TO FORMULATE, PROMOTE AND IMPLEMENT THE ECONOMIC REVITALIZATION AND GENERAL WELFARE OF THE COMMERCIAL AREA. TO PROVIDE A SELF-HELP MECHANISM BY WHICH RELEVANT INTERESTS CAN EXPAND BUSINESS OPPORTUNITIES AND SALES, IMPROVE PROPERTY VALUES AND ENHANCE THE ENVIRONMENT FOR RESIDENTS, SHOPPERS AND VISITORS AS WELL AS MOBILIZE PUBLIC AND PRIVATE RESOURCES FOR THIS PURPOSE.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $255,603

Program Service Revenue $91,743

Investment Income $263

Other Revenue $0

TOTAL REVENUE $347,609

Expense Breakdown

Grants Paid $0

Salaries & Benefits $150,670

Fundraising Expenses $0

Program Expenses $253,255

Other Expenses $241,218

TOTAL EXPENSES $391,888

Year-over-Year Comparison

	2023	2022	Change
Revenue	$347,609	$259,803	+0.3%
Expenses	$391,888	$309,115	+0.3%
Net Income	$-44,279	$-49,312	-0.1%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Total Directors

$80,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHI HOMENICK	PRESIDENT	N/A	Officer Director	$0	$0	$0
MATTHEW CAPANO	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
JOE FISHER	TREASURER	N/A	Officer Director	$0	$0	$0
DENISE MAGURIE	SECRETARY	N/A	Officer Director	$0	$0	$0
LAURIE RAPISARDI	EXECUTIVE DI	40.00	Director	$80,250	$0	$80,250
JERRY DIMAIO	TRUSTEE	N/A	Director	$0	$0	$0
LISA DIMICELI	TRUSTEE	N/A	Director	$0	$0	$0
MATTHEW ENGELAU	TRUSTEE	N/A	Director	$0	$0	$0
LEN KUNZ	TRUSTEE	N/A	Director	$0	$0	$0
MONICA LEMPERLE	TRUSTEE	N/A	Director	$0	$0	$0
HELENE NGUYEN	TRUSTEE	N/A	Director	$0	$0	$0
BRUNO PASQUALE	TRUSTEE	N/A	Director	$0	$0	$0
TOM SCHIANO	TRUSTEE	N/A	Director	$0	$0	$0
KAREN DIMARIA	TRUSTEE	N/A	Director	$0	$0	$0
JENNIFER BONGIOVANNI	TRUSTEE	N/A	Director	$0	$0	$0
TERRI RINTZ	TRUSTEE	N/A	Director	$0	$0	$0
LISA NORTON	TRUSTEE	N/A	Director	$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	$347,609	$391,888	$20,595	$-44,279
2022	$259,803	$309,115	$64,874	$-49,312
2021	$291,275	$234,935	$114,186	$56,340
2020	$221,713	$212,860	$84,998	$8,853
2019	$286,220	$315,308	$48,993	$-29,088
2018	$342,255	$295,243	$78,081	$47,012

HACKETTSTOWN BUSINESS IMPROVEMENT