Somerset County Park Foundation

EIN: 222562113 501(c)(3)

North Branch, NJ

Total Revenue
$275,999
Total Expenses
$193,352
Total Assets
$710,247
Net Assets
$706,247
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
NJ
Principal Officer
Charles Rosen
Phone
9087221200
Tax Period
2024-01-01 to 2024-12-31

Somerset County Park Foundation, founded in 1984, is a small nonprofit that reported $276K in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $83K, a strong 30% operating margin.

Mission

The Foundation was created to preserve, support, and promote the Somerset County Park Commission programs, facilities, and open space through advocacy and fundraising.

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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 $195,638
Program Service Revenue $0
Investment Income $21,398
Other Revenue $58,963
TOTAL REVENUE $275,999

Expense Breakdown

Grants Paid $141,165
Salaries & Benefits $0
Fundraising Expenses $42,203
Program Expenses $141,165
Other Expenses $52,187
TOTAL EXPENSES $193,352

Year-over-Year Comparison

2024 2023 Change
Revenue $275,999 $210,544 +0.3%
Expenses $193,352 $138,119 +0.4%
Net Income $82,647 $72,425 +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

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
16

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
4
$0
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John Kitchen Chairman 2.00
Officer Director
$0 $0 $0
Jason Dameo Vice Chairman 2.00
Officer Director
$0 $0 $0
Charles B Rosen Treasurer 2.00
Officer Director
$0 $0 $0
Geoffrey D Soriano Secretary 2.00
Officer Director
$0 $0 $0
Donald DiFrancesco Trustee 2.00
Director
$0 $0 $0
Paul Drake Trustee 2.00
Director
$0 $0 $0
Karen Murphy Trustee 2.00
Director
$0 $0 $0
Ellen Nardoni Trustee 2.00
Director
$0 $0 $0
R Gary Quick Trustee 2.00
Director
$0 $0 $0
Kip Bateman Trustee 2.00
Director
$0 $0 $0
Joseph Antico Trustee 2.00
Director
$0 $0 $0
Tom Miller Trustee 2.00
Director
$0 $0 $0
Jeff Vanderbeek Trustee 2.00
Director
$0 $0 $0
Dan Hayes Trustee 2.00
Director
$0 $0 $0
Janine Erickson Trustee 2.00
Director
$0 $0 $0
Ken Fivek Trustee 2.00
Director
$0 $0 $0
John Morris Trustee 2.00
Director
$0 $0 $0
Carrie Springer Trustee 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
2024 $275,999 $193,352 $710,247 $82,647
2023 $210,544 $138,119 $627,500 $72,425
2022 $239,919 $234,262 $554,875 $5,657
2021 $214,944 $116,224 $549,118 $98,720
2020 $152,284 $145,629 $450,398 $6,655
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