Nj State Fmba Foundation Inc

Nonprofit profile at a glance

EIN
223596208
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Rahway, NJ, USA
Phone
7324999250
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$168,691
Expenses
$214,067
Assets
$65,813
Liabilities
$2,555

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

Leadership & pay

9 people listed

Executive titles in this filing

  • EDWIN DONNELLY (PRESIDENT)
  • WAYNE WOLK (VICE PRESIDENT)

Highest reported compensation

  • EDWIN DONNELLY (PRESIDENT): $83,700 total reported compensation
  • TROY POWELL (TREASURER): $53,700 total reported compensation
  • WAYNE WOLK (VICE PRESIDENT): $40,200 total reported compensation

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

Overview

Mission

The organization was formed for the sole purpose of having other worthy organizations or individuals benefit from both charitable financial assistance and donations of members' time and effort regardless of race, religion or gender.

What it reported doing in 2024

To have other worthy organizations or individuals benefit from both charitable financial assistance and donations of members' time and effort regardless of race, religion or gender.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 72
  • Accountability: 51
  • Sustainability: 14
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.8%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 31.9%; rating input score 32; 39th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 55.6%; rating input score 56; 16th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -26.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.8% of spending went to programs
  • Governance: 5 of 9 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $209K in reported program spending
  • Leadership: top reported pay $84K · 9 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 filed related-organization links
  • 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.

  • Moderate — Transparency & Controls: Grant itemization coverage scored 32/100.
  • Review — Accountability: Independent voting board scored 56/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.