ARC FOUNDATION OF SOMERSET COUNTY INC

EIN: 300205474 501(c)(3)

MANVILLE, NJ

Total Revenue
$350,358
Total Expenses
$2,163,783
Total Assets
$995,654
Net Assets
$541,725
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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
CHRISTOPHER CORVINO
Phone
9082526653
Tax Period
2022-07-01 to 2023-06-30

ARC FOUNDATION OF SOMERSET COUNTY INC, founded in 1999, is a small nonprofit that reported $350K in total revenue in fiscal year 2022. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $2.2M exceeded revenue, resulting in a 518% operating deficit.

Mission

THE ARC FOUNDATION OF SOMERSET COUNTY IS DEDICATED TO ENHANCING THE QUALITY OF LIFE AND EXPANDING PROGRAMS AND SERVICES FOR INDIVIDUALS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES THROUGH THE PROCUREMENT OF GRANTS, FUNDRAISING, AWARENESS, EDUCATION, AND PUBLIC RELATIONS ACTIVITIES. THE VISION OF THE ARC FOUNDATION OF SOMERSET COUNTY IS TO ENSURE THE FINANCIAL VIABILITY OF THE ARC OF SOMERSET COUNTY'S PROGRAMS WHICH SUPPORT LIFETIME ACHIEVEMENT AND SUCCESS TO EACH OF THE INDIVIDUALS SERVED.

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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 (2022)

Revenue Breakdown

Contributions & Grants $335,005
Program Service Revenue $0
Investment Income $15,353
Other Revenue $0
TOTAL REVENUE $350,358

Expense Breakdown

Grants Paid $1,944,456
Salaries & Benefits $50,759
Fundraising Expenses $0
Program Expenses $2,163,783
Other Expenses $168,568
TOTAL EXPENSES $2,163,783

Year-over-Year Comparison

2022 2021 Change
Revenue $350,358 $578,710 -0.4%
Expenses $2,163,783 $254,372 +7.5%
Net Income $-1,813,425 $324,338 -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

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Governance

Voting Members
8
Independent Members
7
Employees
N/A
Volunteers
25

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
4
$174,884
Total Directors
8
$260,155
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATTHEW ADAMS PRESIDENT 1.00
Officer Director
$0 $0 $0
VINCENT LOMBRADO VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
MARK MCDONOUGH TREASURER 1.00
Officer Director
$0 $0 $0
CHRISTOPHER CORVINO SECRETARY/EXECUTIVE DIRECTOR 1.00
Officer Director
$0 $58,553 $174,884
ROBERT BERINGER MEMBER 1.00
Director
$0 $0 $0
PATRICIA CARLSON MEMBER 1.00
Director
$0 $0 $0
MIKE DEBIASI MEMBER 1.00
Director
$0 $0 $0
SANDEE MILLER MEMBER 1.00
Director
$0 $29,086 $85,271
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 No data No data No data No data
2024 No data No data No data No data
2023 $350,358 $2,163,783 $995,654 $-1,813,425
2022 $578,710 $254,372 $2,352,282 $324,338
2021 $416,785 $135,193 $2,109,396 $281,592
2020 $684,152 $178,611 $1,759,248 $505,541
2019 $703,137 $372,941 $1,284,113 $330,196
2018 $389,648 $187,469 $935,273 $202,179
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