New Jersey Financial Service Centers

Nonprofit profile at a glance

EIN
222283659
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-EZ 2023
Location
Clifton, NJ, USA
Phone
2017972678
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$204,722
Expenses
$214,820
Assets
$17,222
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • JOSEL FERNANDEZ III (Vice President)
  • CHARLES K GREEN (Vice President)

Highest reported compensation

  • SCOTT K MCCLAIN (Executive Dir.): $48,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The New Jersey financial service centers (njfsc) is the state association of community financial srvice centers in New Jersey.

What it reported doing in 2025

In many areas under-served by traditional banks, check cashiers have become the primary source of financial services and products in the neighborhoods that they serve. Over the years, check cashiers have broadened their services to include a wide array of other financial services. In addition to check cashing, customers now utilize njfsc members for: money orders, electronic bill payments, electronic fund transfersm automatic teller machine access, government benefit and payroll payments, tax preparation, prepaid debit cards, public transportation tickets, New Jersey lottery tickets, stamp sales, and numerous other services.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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: 89
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 24
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 8th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.9%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.08; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 22.3%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -0.1% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -4.7% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 12 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $215K in reported program spending
  • Leadership: top reported pay $48K · 12 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.