MARGATE BUSINESS ASSOCIATION INC

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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

1997

Legal Domicile

Principal Officer

ED BERGER

Phone

6098221129

Tax Period

2024-01-01 to 2024-12-31

MARGATE BUSINESS ASSOCIATION INC, founded in 1997, is a small nonprofit in the Employment sector that reported $367K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

TO PROMOTE THE ECONOMIC AND PHYSICAL REVITALIZATION AND WELFARE OF THE BUSINESSES AND BAY DISTRICT OF MARGATE INCLUDING THE ADVANCEMENT OF THE MARGATE COMMUNITY THROUGH LOCAL SCHOLARSHIPS, EVENTS TO PROMOTE FAMILY ACTIVITIES AND PROVIDING ASSISTANCE TO LOCAL GOVERNMENTS AND ORGANIZATIONS SITUATED IN THE CITY OF MARGATE, COUNTY OF ATLANTIC AND STATE OF NEW JERSEY.

Program Service Accomplishments

Program 1

Expenses: $209,692 Revenue: $122,984

MARGATE FALL FUNFEST,THRILLING THURSDAYS, BEACHSTOCK, AND OTHER RECREATIONAL EVENTS TO ATTRACT TOURISTS TO MARGATE CITY BAY DISTRICT AND FOR THE BENEFIT OF MARGATE BUSINESS ASSOCIATION, DANIEL AND...

MARGATE FALL FUNFEST,THRILLING THURSDAYS, BEACHSTOCK, AND OTHER RECREATIONAL EVENTS TO ATTRACT TOURISTS TO MARGATE CITY BAY DISTRICT AND FOR THE BENEFIT OF MARGATE BUSINESS ASSOCIATION, DANIEL AND MARIA WALTERS SCHOLASHIP FOUNDATION, THE MBA CHILDREN'S SCHOLARSHIP FUND AND THE GILDA'S CLUB OF SOUTH JERSEY.

Program 2

Expenses: $5,948 Revenue: $52,475

MARGATE MAP & CALENDAR - MARGATE BUSINESS ASSOCIATION PRODUCES THE MARGATE MAP AND MARGATE CITY CALENDAR TO PROMOTE AND ADVERTISE LOCAL BUSINESSES AND PROVIDE A BETTER EXPERIENCE FOR TOURISTS AND...

MARGATE MAP & CALENDAR - MARGATE BUSINESS ASSOCIATION PRODUCES THE MARGATE MAP AND MARGATE CITY CALENDAR TO PROMOTE AND ADVERTISE LOCAL BUSINESSES AND PROVIDE A BETTER EXPERIENCE FOR TOURISTS AND VISITORS.

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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 $196,304

Program Service Revenue $169,138

Investment Income $2,481

Other Revenue $-573

TOTAL REVENUE $367,350

Expense Breakdown

Grants Paid $14,928

Salaries & Benefits $116,460

Fundraising Expenses $3,525

Program Expenses $215,640

Other Expenses $227,983

TOTAL EXPENSES $359,371

Year-over-Year Comparison

	2024	2023	Change
Revenue	$367,350	$318,498	+0.2%
Expenses	$359,371	$324,967	+0.1%
Net Income	$7,979	$-6,469	-2.2%

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

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

$76,667

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ED BERGER	PRESIDENT	15.00	Officer Director	$0	$0	$0
KAREN SHERMAN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RANDY YOUNG	SECRETARY	1.00	Officer Director	$0	$0	$0
NANCY LYNCH	TREASURER	1.00	Officer Director	$0	$0	$0
COOKIE TILL	TRUSTEE	1.00	Director	$0	$0	$0
CHRISSY TRACY	TRUSTEE	1.00	Director	$0	$0	$0
MARIA DE PHILLIPO	TRUSTEE	1.00	Director	$0	$0	$0
TIM WAINWRIGHT	TRUSTEE	1.00	Director	$0	$0	$0
DR JOSEPH BERRETONE DMD	TRUSTEE	1.00	Director	$0	$0	$0
PAULA HARTMAN	TRUSTEE	1.00	Director	$0	$0	$0
REV JIM RIXON	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL COLLINS	TRUSTEE	1.00	Director	$0	$0	$0
ANNA MARIA BLESCIA-COURTER	EXECUTIVE DIRECTOR	50.00	Officer	$76,667	$0	$76,667

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	$367,350	$359,371	$180,048	$7,979
2023	$318,498	$324,967	$163,379	$-6,469
2022	$299,579	$330,220	$164,932	$-30,641
2021	$310,687	$297,035	$204,365	$13,652
2020	$174,076	$187,614	$182,223	$-13,538
2019	$277,127	$277,803	$198,098	$-676
2018	$229,141	$243,560	$198,774	$-14,419