HIGHLANDS BUSINESS PARTNERSHIP INC

EIN: 223665400 501(c)(3) Community Improvement

HIGHLANDS, NJ

Total Revenue
$241,638
Total Expenses
$298,789
Total Assets
$64,727
Net Assets
$64,727
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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
1999
Legal Domicile
NJ
Principal Officer
JAY COSGROVE
Phone
7322914713
Tax Period
2023-01-01 to 2023-12-31

HIGHLANDS BUSINESS PARTNERSHIP INC, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $242K in total revenue in fiscal year 2023. Revenue fell 20% from the prior year — a significant decline worth monitoring. Expenses of $299K exceeded revenue, resulting in a 24% operating deficit.

Mission

HIGHLANDS BUSINESS PARTNERSHIP IS FUNDED ANNUALLY BY A VOLUNTARY ASSESSMENT OF BUSINESS OWNERS IN HIGHLANDS, EVENTS, SPONSORS AND TAX DEDUCTIBLE DONATIONS. HIGHLANDS BUSINESS PARTNERSHIP, A NONPROFIT CORPORATION AND COMMERCIAL ALLIANCE, FOUNDED IN 1999, WORKS ON BEHALF OF ALL THOSE WHO LIVE, WORK OR INVEST IN HIGHLANDS TO FOSTER HIGHLANDS' ECONOMIC DEVELOPMENT, ADVOCATE CONTINUED REVITALIZATION, PRESERVE OUR HISTORIC PAST, AND STRENGTHEN THE ECONOMIC, CULTURAL AND COMMERCIAL CONTRIBUTIONS IN HIGHLANDS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $53,463
Program Service Revenue $181,733
Investment Income $82
Other Revenue $6,360
TOTAL REVENUE $241,638

Expense Breakdown

Grants Paid $34,530
Salaries & Benefits $74,434
Fundraising Expenses $0
Program Expenses $268,048
Other Expenses $189,825
TOTAL EXPENSES $298,789

Year-over-Year Comparison

2023 2022 Change
Revenue $241,638 $303,623 -0.2%
Expenses $298,789 $270,878 +0.1%
Net Income $-57,151 $32,745 -2.7%
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
12
Employees
1
Volunteers
105

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
5
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAY COSGROVE PRESIDENT 15.00
Officer Director
$0 $0 $0
DOUG LENTZ VICE PRESIDENT 10.00
Officer Director
$0 $0 $0
KIM SLATE TREASURER 15.00
Officer Director
$0 $0 $0
DONICA BASINGER SECRETARY 10.00
Officer Director
$0 $0 $0
CARLA CEFALO EXECUTIVE DIRECTOR 10.00
Officer Director
$0 $0 $0
NANCY BURTON MEMBER 1.00
Director
$0 $0 $0
ANNA LITTLE MEMBER 1.00
Director
$0 $0 $0
FILOMENA ANTONIELLO MEMBER 1.00
Director
$0 $0 $0
GLORIA MILLER MEMBER 1.00
Director
$0 $0 $0
JAMES D BARKER MEMBER 1.00
Director
$0 $0 $0
VALERIE MONTECALVO MEMBER 1.00
Director
$0 $0 $0
DAVID BAKER MEMBER 1.00
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 No data No data No data No data
2023 $241,638 $298,789 $64,727 $-57,151
2022 $303,623 $270,878 $121,878 $32,745
2019 $238,371 $212,216 $22,926 $26,155
2018 $214,572 $228,844 $20,671 $-14,272
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