New Jersey Cannabis Industry Association

Nonprofit profile at a glance

EIN
814813318
IRS 990 coverage
2018–2018
Forms available
Form 990 2018
Location
Bordentown, NJ, USA
Rating
56
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$274,881
Expenses
$220,106
Assets
$98,017
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • HUGH O'BEIRNE (President)
  • KELLEY CROSSON (Vice President)

People named in this filing

  • DARA SERVIS (Executive Dir.)
  • CHRIS BEALS (Trustee)
  • WILLIAM CARUSO (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 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See part i, 1

What it reported doing in 2018

Hosted educational conferences and events in Nevada, Colorado, and a golf outing in atlantic city, nj to further education in the legalization of cannabis, discuss successes and challenges of legalization in other states, and sensible policy towards the legalization of cannabis in the state of New Jersey.

Operating model

Revenue model
Membership-supported. 68% of the money available for current operations came from membership dues.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 80
  • Accountability: 6
  • Sustainability: 62
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.9%; rating input score 72
  • Program expense ratio: 89.8%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.9%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 71.9% of revenue deployed · 89.8% of spending went to programs
  • Governance: 0 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $189K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.