MORTGAGE BANKERS ASSOCIATION OF NEW JERSEY

EIN: 237009533

FREEHOLD, NJ

Total Revenue
$313,364
Total Expenses
$360,437
Total Assets
$228,448
Net Assets
$197,158
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1939
Legal Domicile
NJ
Principal Officer
E ROBERT LEVY
Phone
7325961619
Tax Period
2023-01-01 to 2023-12-31

MORTGAGE BANKERS ASSOCIATION OF NEW JERSEY, founded in 1939, is a small nonprofit that reported $313K in total revenue in fiscal year 2023. Revenue fell 48% from the prior year — a significant decline worth monitoring. Expenses of $360K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO SUPPORT AND PROMOTE THE EXPANSION OF THE MORTGAGE BANKING BUSINESS IN THE STATE OF NEW JERSEY; TO PROMOTE SOUND AND ETHICAL BUSINESS PRACTICES AMONGST THE MEMBERS; TO PROVIDE TIMELY INFORMATION TO THE MEMBERS REGARDING CHANGES IN CONDITIONS, LAWS AND ADMINISTRATIVE

Program Service Accomplishments

Program 1
Expenses: $360,437 Revenue: $187,390

TO SUPPORT THE MORTGAGE BANKING INDUSTRY IN NEW JERSEY BY SERVING APPROXIMATELY 300 COMPANIES WITH OVER 1000 INDIVIDUAL MEMBERS THROUGH EDUCATIONAL FORUMS CONSISTING OF AN ANNUAL REGIONAL CONFERENCE...

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TO SUPPORT THE MORTGAGE BANKING INDUSTRY IN NEW JERSEY BY SERVING APPROXIMATELY 300 COMPANIES WITH OVER 1000 INDIVIDUAL MEMBERS THROUGH EDUCATIONAL FORUMS CONSISTING OF AN ANNUAL REGIONAL CONFERENCE AND VARIOUS SEMINARS AND MEETINGS THROUGHOUT THE YEAR.

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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 $128,323
Program Service Revenue $187,390
Investment Income $0
Other Revenue $-2,349
TOTAL REVENUE $313,364

Expense Breakdown

Grants Paid $0
Salaries & Benefits $177,219
Fundraising Expenses $0
Program Expenses $360,437
Other Expenses $171,791
TOTAL EXPENSES $360,437

Year-over-Year Comparison

2023 2022 Change
Revenue $313,364 $597,505 -0.5%
Expenses $360,437 $501,071 -0.3%
Net Income $-47,073 $96,434 -1.5%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
20
Independent Members
20
Employees
3
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
5
$85,000
Total Directors
20
$85,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
E ROBERT LEVY ESQ. 50.00
Officer Director
$85,000 $0 $85,000
SAMUEL LAMPARELLO CMB 5.00
Officer Director
$0 $0 $0
PAUL CHIARELLI TREASURER 5.00
Officer Director
$0 $0 $0
MATT VANFOSSEN PRESIDENT 5.00
Officer Director
$0 $0 $0
TAYLOR STORK TREASURER 5.00
Officer Director
$0 $0 $0
JUSTIN DEMOLA TRUSTEE 1.00
Director
$0 $0 $0
GABRIEL GILLEN TRUSTEE 1.00
Director
$0 $0 $0
DEVIN DALY TRUSTEE 1.00
Director
$0 $0 $0
JUSTIN FERRIS TRUSTEE 1.00
Director
$0 $0 $0
STEVE GROSSMAN TRUSTEE 1.00
Director
$0 $0 $0
JOHN PISANI TRUSTEE 1.00
Director
$0 $0 $0
RALPH VITIELLO TRUSTEE 1.00
Director
$0 $0 $0
RYAN FAUGHNER TRUSTEE 1.00
Director
$0 $0 $0
ERIC REEBER TRUSTEE 1.00
Director
$0 $0 $0
ASHLEY GRAVANO TRUSTEE 1.00
Director
$0 $0 $0
GINO BROWN TRUSTEE 1.00
Director
$0 $0 $0
MARY BULMAN TRUSTEE 1.00
Director
$0 $0 $0
RICH JORDAN TRUSTEE 1.00
Director
$0 $0 $0
LAURA BRANDAO TRUSTEE 1.00
Director
$0 $0 $0
KELCEY BROWN TRUSTEE 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 $313,364 $360,437 $228,448 $-47,073
2022 $597,505 $501,071 $367,294 $96,434
2021 $558,622 $321,640 $287,445 $236,982
2020 $351,996 $533,923 $16,935 $-181,927
2019 $737,877 $715,970 $92,998 $21,907
2018 $645,081 $700,788 $71,090 $-55,707
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