New Jersey Bankers Association

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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

1908

Legal Domicile

Principal Officer

MICHAEL AFFUSO

Phone

9082728500

Tax Period

2024-07-01 to 2025-06-30

New Jersey Bankers Association, founded in 1908, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2024.

Mission

THE NEW JERSEY BANKERS ASSOCIATION IS AN ADVOCATE FOR THE NEW JERSEY BANKING INDUSTRY. ITS PRIMARY MISSION IS TO REPRESENT ITS MEMBERSHIPS' INTERESTS BEFORE STATE AND FEDERAL GOVERNMENT AND REGULATORY AUTHORITIES. IN ADDITION, NJ BANKERS PROVIDES ITS MEMBERS WITH SERVICES AND SUPPORT IN PUBLIC AND MEDIA RELATIONS, EDUCATION AND EMPLOYEE HEALTH INSURANCE BENEFIT PROGRAMS AND IN MEETING COMMUNITY REINVESTMENT ACT REGULATIONS.

Program Service Accomplishments

Program 1

ANNUAL CONVENTION: EDUCATION FOR SENIOR MANAGEMENT IN THE BANKING INDUSTRY AND ANNUAL MEETING TO PROVIDE INFORMATION AND COORDINATE ACTIVITIES AFFECTING MEMBER ASSOCIATIONS.

Program 2

SENIOR MANAGEMENT CONFERENCE: EDUCATION FOR SENIOR MANAGEMENT IN THE BANKING INDUSTRY.

Program 3

DIRECTORS & OFFICERS CONFERENCE: EDUCATION FOR SENIOR MANAGEMENT IN THE BANKING INDUSTRY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,243,428

Investment Income $210,782

Other Revenue $623,277

TOTAL REVENUE $4,077,487

Expense Breakdown

Grants Paid $348,895

Salaries & Benefits $1,984,074

Fundraising Expenses $0

Other Expenses $1,759,246

TOTAL EXPENSES $4,092,215

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,077,487	$4,176,430	0.0%
Expenses	$4,092,215	$3,942,063	+0.0%
Net Income	$-14,728	$234,367	-1.1%

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

$784,674

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL AFFUSO	PRESIDENT/CEO	35.0	Officer	$498,740	$47,146	$545,886
JENNIFER ZORN	VP/EDUC/DIR BUS DEVELOPMENT	35.0	Officer	$207,419	$31,369	$238,788
BRITTANY WHEELER	VP/Director of GovT AffaIRS	35.0	Highest	$186,084	$26,648	$212,732
JOHN MANGINI	VP/DIRECTOR OF MARKETING & COM	35.0	Highest	$152,411	$25,496	$177,907
EDWARD YAKELY	VP of Finance	35.0	Highest	$140,934	$26,185	$167,119
JESSICA JAKOBSON	VP OF PROF. DEVELOPMENT	35.0	Highest	$130,257	$13,541	$143,798
Andrea Ganzman	Dir/Digital Mktg & Creative	35.0	Highest	$102,214	$9,488	$111,702
Patrick L Ryan	CHAIR	1.0	Officer Director	$0	$0	$0
Craig L Montanaro	FIRST VICE CHAIR	1.0	Officer Director	$0	$0	$0
Elizabeth Magennis	SECOND VICE CHAIR	1.0	Officer Director	$0	$0	$0
Steven M Klein	IMMEDIATE FORMER CHAIR	1.0	Officer Director	$0	$0	$0
Christopher D Maher	FORMER CHAIR	1.0	Officer Director	$0	$0	$0
John M Bonhomme	Member	1.0	Director	$0	$0	$0
John Borelli Jr	MEMBER	1.0	Director	$0	$0	$0
Matthew Carcich	MEMBER	1.0	Director	$0	$0	$0
John V DeSclafani	MEMBER	1.0	Director	$0	$0	$0
Edward Dietzler	MEMBER	1.0	Director	$0	$0	$0
Catherine D Franzoni	MEMBER	1.0	Director	$0	$0	$0
Jorge S Gomes Esq	MEMBER	1.0	Director	$0	$0	$0
James A Hughes	MEMBER	1.0	Director	$0	$0	$0
Thomas J Kemly	MEMBER	1.0	Director	$0	$0	$0
Anthony Labozzetta	MEMBER	1.0	Director	$0	$0	$0
Kevin M Lenihan	MEMBER	1.0	Director	$0	$0	$0
Martin P Melilli	MEMBER	1.0	Director	$0	$0	$0
Donald Mindiak	MEMBER	1.0	Director	$0	$0	$0
James D Nesci	MEMBER	1.0	Director	$0	$0	$0
Kevin B Peterson	MEMBER	1.0	Director	$0	$0	$0
Jane E Rey	MEMBER	1.0	Director	$0	$0	$0
Robert Rey	MEMBER	1.0	Director	$0	$0	$0
Ira Robbins	MEMBER	1.0	Director	$0	$0	$0
Michael A Shriner	MEMBER	1.0	Director	$0	$0	$0
Kenneth R Totten	MEMBER	1.0	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
2025	$4,077,487	$4,092,215	$6,136,299	$-14,728
2024	$4,176,430	$3,942,063	$6,122,030	$234,367
2023	$4,273,484	$3,950,553	$5,887,095	$322,931
2022	$4,072,636	$3,967,057	$5,053,875	$105,579
2021	$2,871,492	$3,066,469	$4,894,661	$-194,977
2020	$3,178,770	$3,540,549	$5,105,254	$-361,779
2019	$3,930,654	$3,872,048	$5,577,402	$58,606
2018	$2,881,842	$2,689,631	$5,626,924	$192,211