Bayonne Community Foundation Inc

Nonprofit profile at a glance

EIN
223620374
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
Bayonne, NJ, USA
Phone
2013390924
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$43,446
Expenses
$34,676
Assets
$684,138
Liabilities
$32,000

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • PAUL NEWMAN (Pres./Trustee)
  • CHRISTOPHER ROMANO (V.P./Trustee)
  • FRANCIS X LAMPARELLO (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Raise funds for charitable, educational & religious purposes with funds to be used for scholarship programs, youth programs & school music programs.

What it reported doing in 2024

Scholarship program -proposed plan for college or private high school scholarships. Average $2,000 per year, per student.

Operating model

Revenue model
Donor-supported. 69% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 84
  • Accountability: 70
  • Sustainability: 67
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.9%; rating input score 55
  • Program expense ratio: 59.1%; rating input score 59
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 78%; rating input score 78; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 20.2%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 19.73; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: -10.4% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 54.9% of revenue deployed · 59.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 5 filed program accomplishments · $20K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.