MIDDLESEX COUNTY BAR FOUNDATION

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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

1991

Legal Domicile

Principal Officer

JONATHAN COWLES

Phone

7328283433

Tax Period

2024-07-01 to 2025-06-30

MIDDLESEX COUNTY BAR FOUNDATION, founded in 1991, is a small nonprofit in the Crime & Legal sector that reported $515K in total revenue in fiscal year 2024. Revenue surged 204% from the prior year, signaling strong growth momentum. The organization ran a surplus of $392K, a strong 76% operating margin.

Mission

THE MCBF IS A NON-PROFIT CORPORATION ORGANIZED FOR THE BENEFIT OF AND TO CARRY OUT THE CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES OF THE MIDDLESEX COUNTY BAR FOUNDATION AND FOR OTHER EXCLUSIVELY CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES RELATED TO THE PROFESSION OF LAW AND THE ADMINISTRATION OF JUSTICE.

Program Service Accomplishments

Program 1

Expenses: $35,187

VARIOUS GRANTS AND ENCUMBERED SERVICES

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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 $5,500

Program Service Revenue $0

Investment Income $476,370

Other Revenue $33,330

TOTAL REVENUE $515,200

Expense Breakdown

Grants Paid $22,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $35,187

Other Expenses $100,274

TOTAL EXPENSES $122,774

Year-over-Year Comparison

	2024	2023	Change
Revenue	$515,200	$169,347	+2.0%
Expenses	$122,774	$117,616	+0.0%
Net Income	$392,426	$51,731	+6.6%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN P COWLES	EXECUTIVE DIRECTOR	002.00	Officer Director	$0	$0	$0
JENEE K CICCARELLI	PRESIDENT	N/A	Officer Director	$0	$0	$0
DAVID SPEVACK	PRESIDENT-ELECT	N/A	Officer Director	$0	$0	$0
MARK ZABEL JR	VICE PRESIDENT	N/A	Officer Director	$0	$0	$0
ZANIAH MAYNOR	TREASURER	N/A	Officer Director	$0	$0	$0
EUGENE WISHNIC	SECRETARY	N/A	Officer Director	$0	$0	$0
MICHAEL B ROBERTS	IMMEDIATE PAST PRESIDENT	N/A	Officer Director	$0	$0	$0
THOMAS BARLOW	TRUSTEE	N/A	Director	$0	$0	$0
ALYSSA BARTHOLOMEW	TRUSTEE	N/A	Director	$0	$0	$0
JACQUELINE BOULOS	TRUSTEE	N/A	Director	$0	$0	$0
E MARTIN DAVIDOFF	TRUSTEE	N/A	Director	$0	$0	$0
ANN FABRIKANT	TRUSTEE	N/A	Director	$0	$0	$0
MARC GAFFREY	TRUSTEE	N/A	Director	$0	$0	$0
DAVID B GREENFIELD	TRUSTEE	N/A	Director	$0	$0	$0
SAMANTHA LATIF	TRUSTEE	N/A	Director	$0	$0	$0
PHILIP NETTL	TRUSTEE	N/A	Director	$0	$0	$0
JORDAN RICKARDS	TRUSTEE	N/A	Director	$0	$0	$0
EDWARD RYAN	TRUSTEE	N/A	Director	$0	$0	$0
GEORGE J SHAMY JR	TRUSTEE	N/A	Director	$0	$0	$0
JANETT SMYTH	TRUSTEE	N/A	Director	$0	$0	$0
DENNIS ALAN AUCIELLO	PAST PRESIDENT	N/A	Director	$0	$0	$0
LINDA CAVANNA	PAST PRESIDENT	N/A	Director	$0	$0	$0
JACK GILLICK	PAST PRESIDENT	N/A	Director	$0	$0	$0
ROBERT H GOODWIN	PAST PRESIDENT	N/A	Director	$0	$0	$0
JEFFREY C GREEN	PAST PRESIDENT	N/A	Director	$0	$0	$0
WILLIAM P ISELE	PAST PRESIDENT	N/A	Director	$0	$0	$0
W LOIS KAHAGI	PAST PRESIDENT	N/A	Director	$0	$0	$0
PAULA MENAR	PAST PRESIDENT	N/A	Director	$0	$0	$0
EDWARD TESTINO	PAST PRESIDENT	N/A	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
2025	$515,200	$122,774	$3,313,596	$392,426
2024	$169,347	$117,616	$3,062,399	$51,731
2023	$165,265	$105,837	$2,712,780	$59,428
2022	$141,750	$112,156	$2,501,315	$29,594
2021	$116,063	$136,123	$2,844,207	$-20,060
2020	$132,575	$102,614	$2,388,075	$29,961
2019	$176,136	$111,617	$2,439,276	$64,519