CARTERET BUSINESS PARTNERSHIP LLC (EIN 320145183) - Form 990 Financial Analysis & Trantor Score

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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

2005

Legal Domicile

Principal Officer

MARK HRUSKA

Phone

7325413829

Tax Period

2023-01-01 to 2023-12-31

CARTERET BUSINESS PARTNERSHIP LLC, founded in 2005, is a community nonprofit in the Community Improvement sector that reported $9.9M in total revenue in fiscal year 2023. Revenue surged 69% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 16% operating margin.

Mission

ASSIST THE BOROUGH OF CARTERET, COUNTY OF MIDDLESEX, NJ IN ECONOMIC DEVELOPMENT, PROMOTING BUSINESS GROWTH & DEVELOPMENT AND FOSTER GOODWILL BETWEEN THE BUSINESS COMMUNITY AND GENERAL PUBLIC.

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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 (2023)

Revenue Breakdown

Contributions & Grants $5,034,791

Program Service Revenue $2,750,406

Investment Income $2,148,977

Other Revenue $992

TOTAL REVENUE $9,935,166

Expense Breakdown

Grants Paid $317,652

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,635,706

Other Expenses $7,986,093

TOTAL EXPENSES $8,303,745

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,935,166	$5,882,291	+0.7%
Expenses	$8,303,745	$5,170,919	+0.6%
Net Income	$1,631,421	$711,372	+1.3%

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

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

$45,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL J REIMAN	CHAIRMAN	5.00	Director	$0	$0	$0
HANK DORSI	MEMBER	1.00	Director	$0	$0	$0
JOSEPH WUTKOWSKI	TREASURER	1.00	Director	$0	$0	$0
PETER VISCEGLIA	MEMBER	1.00	Director	$0	$0	$0
AJ JOHAL	MEMBER	1.00	Director	$0	$0	$0
TANBIR DUKU	MEMBER	1.00	Director	$0	$0	$0
MARK HRUSKA	EXECUTIVE DIRECTOR	12.50	Director	$45,000	$0	$45,000
DIANA ST JOHN	DEPUTY DIRECTOR	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	$9,935,166	$8,303,745	$64,437,291	$1,631,421
2023	No data	No data	No data	No data
2022	$5,882,291	$5,170,919	$62,759,478	$711,372
2022	No data	No data	No data	No data
2021	$5,905,215	$3,215,267	$62,094,240	$2,689,948
2020	$18,233,481	$2,475,249	$57,728,296	$15,758,232
2019	$23,928,602	$2,044,593	$43,283,495	$21,884,009
2018	$8,995,025	$1,995,913	$20,265,682	$6,999,112

CARTERET BUSINESS PARTNERSHIP LLC