First Jersey Credit Union
Nonprofit profile at a glance
- EIN
- 220766924
- IRS 990 coverage
- 2010–2016
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2016
- Location
- Wayne, NJ, USA
- Phone
- 9733058889
- Rating
- 48
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Credit Unions
Reported finances
- Revenue
- $6,355,649
- Expenses
- $10,635,705
- Assets
- $115,907,564
- Liabilities
- $107,936,890
Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- Christopher Davis (President)
Highest reported compensation
- Christopher Davis (President): $239,495 total reported compensation
- Jeff Miller (VP): $146,883 total reported compensation
- Paul Perez (VP): $145,519 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide lending, savings, and other financial services to its qualifying members.
What it reported doing in 2016
Dividends and interest paid to members on approximately 17,000 deposit accounts held by approximately 10,700 members. Direct labor and employee benefit costs incurred providing savings deposit services, originating new loans and servicing the loan portfolio for members. Data processing costs incurred recording member account activity and providing access to members to their accounts via home banking, ATM networks and in person at the credit union offices.
Operating model
- Revenue model
- Other-operating. 91% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - 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: 0
- Transparency & Controls: 77
- Accountability: 100
- Sustainability: 33
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -67.3%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 10.9; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.93; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 7.1%; rating input score 34; 34th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.6% per year; rating input score 100; 46th percentile among comparable filings
- Asset growth: 0.3% per year; rating input score 100; 28th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $239K · 15 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $554K reported
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 7 filing years from 2010 to 2016
- Contacts: How to reach this organization
- Money network: 15 filed money-flow records
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Sustainability: Operating margin scored 1/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 34/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.