NEW JERSEY FINANCIAL SERVICE CENTERS

EIN: 222283659

CLIFTON, NJ

Total Revenue
$204,722
Total Expenses
$214,820
Total Assets
$17,222
Net Assets
$17,222
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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
1979
Legal Domicile
NJ
Principal Officer
ALAN UDELL
Phone
2017972678
Tax Period
2025-01-01 to 2025-12-31

NEW JERSEY FINANCIAL SERVICE CENTERS, founded in 1979, is a small nonprofit that reported $205K in total revenue in fiscal year 2025.

Mission

THE NEW JERSEY FINANCIAL SERVICE CENTERS (NJFSC) IS THE STATE ASSOCIATION OF COMMUNITY FINANCIAL SRVICE CENTERS IN NEW JERSEY.

Program Service Accomplishments

Program 1
Expenses: $214,820 Revenue: $204,722

IN MANY AREAS UNDER-SERVED BY TRADITIONAL BANKS, CHECK CASHIERS HAVE BECOME THE PRIMARY SOURCE OF FINANCIAL SERVICES AND PRODUCTS IN THE NEIGHBORHOODS THAT THEY SERVE. OVER THE YEARS, CHECK CASHIERS...

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IN MANY AREAS UNDER-SERVED BY TRADITIONAL BANKS, CHECK CASHIERS HAVE BECOME THE PRIMARY SOURCE OF FINANCIAL SERVICES AND PRODUCTS IN THE NEIGHBORHOODS THAT THEY SERVE. OVER THE YEARS, CHECK CASHIERS HAVE BROADENED THEIR SERVICES TO INCLUDE A WIDE ARRAY OF OTHER FINANCIAL SERVICES. IN ADDITION TO CHECK CASHING, CUSTOMERS NOW UTILIZE NJFSC MEMBERS FOR: MONEY ORDERS, ELECTRONIC BILL PAYMENTS, ELECTRONIC FUND TRANSFERSM AUTOMATIC TELLER MACHINE ACCESS, GOVERNMENT BENEFIT AND PAYROLL PAYMENTS, TAX PREPARATION, PREPAID DEBIT CARDS, PUBLIC TRANSPORTATION TICKETS, NEW JERSEY LOTTERY TICKETS, STAMP SALES, AND NUMEROUS OTHER SERVICES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $204,722
Investment Income $0
Other Revenue $0
TOTAL REVENUE $204,722

Expense Breakdown

Grants Paid $0
Salaries & Benefits $48,000
Fundraising Expenses $0
Program Expenses $214,820
Other Expenses $166,820
TOTAL EXPENSES $214,820

Year-over-Year Comparison

2025 2024 Change
Revenue $204,722 $212,266 0.0%
Expenses $214,820 $215,107 0.0%
Net Income $-10,098 $-2,841 +2.6%
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
12
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
$48,000
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SCOTT K MCCLAIN Executive Dir. 2.00
Officer
$48,000 $0 $48,000
RICHARD KLIEN Chairman 2.00
Officer Director
$0 $0 $0
JOSEL FERNANDEZ III Vice President 2.00
Officer Director
$0 $0 $0
CHARLES K GREEN Vice President 2.00
Officer Director
$0 $0 $0
ALAN UDELL Treasurer 2.00
Officer Director
$0 $0 $0
ARTHUR ROTH Secretary 2.00
Officer Director
$0 $0 $0
MICHAEL J AVALLONE Director 2.00
Director
$0 $0 $0
MARC JACOBS Director 2.00
Director
$0 $0 $0
BART LOCKWARD Director 2.00
Director
$0 $0 $0
RONALD SEAGRAVES Director 2.00
Director
$0 $0 $0
JOSEPH LOPRESTI Director 2.00
Director
$0 $0 $0
EDWARD G BEACH Director 2.00
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 $204,722 $214,820 $17,222 $-10,098
2024 $212,266 $215,107 $27,320 $-2,841
2022 $193,348 $210,300 $30,183 $-16,952
2021 $184,465 $185,459 $47,135 $-994
2020 $196,744 $187,289 $48,129 $9,455
2019 $232,065 $227,820 $38,674 $4,245
2018 $250,342 $257,436 $34,429 $-7,094
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