SOMERSET COUNTY BUSINESS PARTNERSHIP INC

EIN: 221532588 Community Improvement

SOMERVILLE, NJ

Total Revenue
$931,228
Total Expenses
$778,601
Total Assets
$2,252,955
Net Assets
$1,606,711
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1919
Legal Domicile
NJ
Principal Officer
Chris Edwards
Phone
9087251552
Tax Period
2024-01-01 to 2024-12-31

SOMERSET COUNTY BUSINESS PARTNERSHIP INC, founded in 1919, is a small nonprofit in the Community Improvement sector that reported $931K in total revenue in fiscal year 2024. The organization ran a surplus of $153K, a strong 16% operating margin.

Mission

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.

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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 (2024)

Revenue Breakdown

Contributions & Grants $645,534
Program Service Revenue $127,906
Investment Income $83,413
Other Revenue $74,375
TOTAL REVENUE $931,228

Expense Breakdown

Grants Paid $0
Salaries & Benefits $361,118
Fundraising Expenses $0
Program Expenses $304,723
Other Expenses $417,483
TOTAL EXPENSES $778,601

Year-over-Year Comparison

2024 2023 Change
Revenue $931,228 $979,485 0.0%
Expenses $778,601 $772,733 +0.0%
Net Income $152,627 $206,752 -0.3%
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

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Governance

Voting Members
50
Independent Members
50
Employees
N/A
Volunteers
53

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
6
$145,000
Total Directors
5
$0
Key Employees
1
$145,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Monica Martinez Milan Chairperson 2.00
Officer Director
$0 $0 $0
Snehal Batra Vice Chairperson 2.00
Officer Director
$0 $0 $0
Thomas Casey Secretary 2.00
Officer Director
$0 $0 $0
David Carcieri Treasurer 2.00
Officer Director
$0 $0 $0
Chris Zarelli Immediate Past Chairperson 2.00
Officer Director
$0 $0 $0
Chris Edwards President & CEO 25.00
Officer Key Emp
$145,000 $0 $145,000
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 $931,228 $778,601 $2,252,955 $152,627
2023 $979,485 $772,733 $1,591,935 $206,752
2022 $855,382 $696,752 $1,377,951 $158,630
2021 $837,555 $646,620 $1,214,800 $190,935
2020 $538,767 $560,908 $1,251,561 $-22,141
2019 $800,129 $734,786 $1,056,132 $65,343
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