SOMERSET COUNTY BUSINESS PARTNERSHIP FOUNDATION (EIN 223629078) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

Chris Edwards

Phone

9082184300

Tax Period

2024-01-01 to 2024-12-31

SOMERSET COUNTY BUSINESS PARTNERSHIP FOUNDATION, founded in 2002, is a small nonprofit in the Community Improvement sector that reported $763K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $864K exceeded revenue, resulting in a 13% operating deficit.

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.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $523,000

Program Service Revenue $232,125

Investment Income $0

Other Revenue $7,500

TOTAL REVENUE $762,625

Expense Breakdown

Grants Paid $0

Salaries & Benefits $267,625

Fundraising Expenses $0

Program Expenses $561,105

Other Expenses $596,123

TOTAL EXPENSES $863,748

Year-over-Year Comparison

	2024	2023	Change
Revenue	$762,625	$920,296	-0.2%
Expenses	$863,748	$917,612	-0.1%
Net Income	$-101,123	$2,684	-38.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$145,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Edward Dolan	Chairperson	2.00	Officer Director	$0	$0	$0
Chris Zarelli	Vice Chairperson	2.00	Officer Director	$0	$0	$0
Audris Francis	Secretary	2.00	Officer Director	$0	$0	$0
Tom Elliott	Treasurer	2.00	Officer Director	$0	$0	$0
Catherine Rickner	Immediate Past Chairperson	2.00	Director	$0	$0	$0
Chris Edwards	President & CEO	15.00	Officer	$0	$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	$762,625	$863,748	$179,299	$-101,123
2023	$920,296	$917,612	$61,613	$2,684
2022	$959,404	$1,084,871	$54,044	$-125,467
2021	$492,922	$523,157	$130,085	$-30,235
2020	$517,038	$456,627	$66,424	$60,411
2019	$425,557	$440,828	$57,695	$-15,271

SOMERSET COUNTY BUSINESS PARTNERSHIP FOUNDATION