NEW JERSEY CLUB FOUNDATION C/O CARE OF BAY HEAD YACHT CLUB

EIN: 223459827 501(c)(3) Education

BAY HEAD, NJ

Total Revenue
$240,632
Total Expenses
$279,417
Total Assets
$1,349,892
Net Assets
$1,342,392
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
NJ
Principal Officer
JEFF D WILLEY
Phone
9082770100
Tax Period
2024-01-01 to 2024-12-31

NEW JERSEY CLUB FOUNDATION C/O CARE OF BAY HEAD YACHT CLUB, founded in 1996, is a small nonprofit in the Education sector that reported $241K in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $279K exceeded revenue, resulting in a 16% operating deficit.

Mission

NEW JERSEY CLUB FOUNDATION, INC. (THE "FOUNDATION") WAS INCORPORATED ON AUGUST 2, 1996 AS A NOT FOR-PROFIT ORGANIZATION. THE FOUNDATION WAS FORMED FOR THE FOLLOWING PURPOSES: TO SUPPORT EDUCATIONAL PROGRAMS FOR CLUB MANAGERS AND ASSISTANT MANAGERS TO FURTHER THE CLUB MANAGEMENT PROFESSION;TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS FROM THE PUBLIC SECTOR, INCLUDING MINORITIES, INTERESTED IN THE CLUB AND HOSPITALITY FIELDS AND IN DOING SO, CREATE A GREATER PUBLIC AWARENESS OF PROFESSIONAL OPPORTUNITIES; TO PROMOTE THE CLUB MANAGEMENT PROFESSION THROUGH ACADEMIC PROGRAMS OFFERED BY COMMUNITY COLLEGES, CULINARY SCHOOLS AND UNIVERSITIES BOTH IN NEW JERSEY AND OTHER STATES; TO COOPERATE IN THE DISSEMINATION OF PROFESSIONAL INFORMATION TO ALLIED ASSOCIATIONS, ACADEMIC INSTITUTIONS AND OTHER GROUPS INVOLVED WITH THE HOSPITALITY FIELD.

Program Service Accomplishments

Program 1
Expenses: $234,424 Revenue: $237,410

TO SUPPORT EDUCATIONAL PROGRAMS FOR CLUB MANAGERS AND ASSISTANT MANAGERS TO FURTHER THE CLUB MANAGEMENT PROFESSION TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS FROM THE PUBLIC SECTOR INTERESTED IN...

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TO SUPPORT EDUCATIONAL PROGRAMS FOR CLUB MANAGERS AND ASSISTANT MANAGERS TO FURTHER THE CLUB MANAGEMENT PROFESSION TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS FROM THE PUBLIC SECTOR INTERESTED IN THE CLUB AND HOSPITALITY FIELD TO PROMOTE THE CLUB MANAGEMENT PROFESSION THROUGH ACADEMIC PROGRAMS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,045
Program Service Revenue $237,410
Investment Income $-20,652
Other Revenue $19,829
TOTAL REVENUE $240,632

Expense Breakdown

Grants Paid $42,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $234,424
Other Expenses $236,917
TOTAL EXPENSES $279,417

Year-over-Year Comparison

2024 2023 Change
Revenue $240,632 $314,458 -0.2%
Expenses $279,417 $287,530 0.0%
Net Income $-38,785 $26,928 -2.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
N/A
Volunteers
12

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
3
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH KUNTAR CHAIRMAN 5.00
Officer Director
$0 $0 $0
HOLLY BILOTTI VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
JEFF WILLEY TREASURER/SECRETARY 3.00
Officer Director
$0 $0 $0
ROBERT ANEN DIRECTOR 2.00
Director
$0 $0 $0
PETER CAFARO DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL POLLACK DIRECTOR 2.00
Director
$0 $0 $0
RYAN BRENNAN DIRECTOR 2.00
Director
$0 $0 $0
JOSEPH HART DIRECTOR 2.00
Director
$0 $0 $0
KANE PAPPAS DIRECTOR 2.00
Director
$0 $0 $0
DEBBIE PAGERIE DIRECTOR 2.00
Director
$0 $0 $0
NICHOLAS ROBERTO DIRECTOR 2.00
Director
$0 $0 $0
DAN PASTERNAK 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
2024 $240,632 $279,417 $1,349,892 $-38,785
2023 $314,458 $287,530 $1,294,263 $26,928
2022 $291,813 $239,512 $1,152,291 $52,301
2021 $213,102 $183,664 $1,363,340 $29,438
2020 $222,786 $219,865 $1,312,500 $2,921
2019 $244,998 $194,962 $1,235,505 $50,036
2018 $263,312 $189,070 $1,022,812 $74,242
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