Overview
What is African-American Chamber Of Commerce Of New Jersey?
The African-American Chamber of Commerce of New Jersey (AACCNJ) is a nonprofit organization situated in Trenton, New Jersey, with a workforce of 17 individuals. Their primary mission is to economically empower and sustain African-American communities within New Jersey through entrepreneurship and capitalistic activities. They achieve this by engaging with the National Black Chamber of Commerce, Inc (NBCC). One of their significant initiatives is the Small Business Bonding Readiness Assistance Program, which provides training to individuals, leading to many of them receiving pre-qualification bonding. This program fosters business growth and development within the African-American community in New Jersey.
Official website here: www.aaccnj.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Stars)
The African-American Chamber of Commerce of New Jersey has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong emphasis on accountability and financial transparency. With a score of 93% overall, the organization demonstrates effective governance, featuring a fully independent board and robust policies for oversight, conflict of interest, and document management.
Strengths highlighted in the ratings include a high program expense ratio of 85.45%, indicating that the majority of its funds are allocated directly to its programs, and an exemplary fundraising efficiency ratio. Additionally, the organization has no material diversion of assets and has maintained a strong financial oversight structure, suggesting a sound financial health and responsible management practices.
However, there are areas for potential improvement, particularly concerning its liabilities to assets ratio, which is at 43.13%. This may indicate some level of financial risk, as it suggests that nearly half of the organization's assets are financed by liabilities. Overall, the organization appears to be a trustworthy entity, committed to serving its mission effectively while maintaining transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is African-American Chamber Of Commerce Of New Jersey legitimate?
African-American Chamber Of Commerce Of New Jersey is a legitimate nonprofit organization registered as a 501(c)(3) entity. African-American Chamber Of Commerce Of New Jersey submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $554,451
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.aaccnj.com
What is the mission statement of African-American Chamber Of Commerce Of New Jersey?
The African-American Chamber of Commerce of New Jersey (AACCNJ) is committed to economically empowering and sustaining African-American communities. They accomplish this goal by promoting entrepreneurship and capitalistic activities within the state of New Jersey, and by collaborating with the National Black Chamber of Commerce, Inc. (NBCC). The organization's mission is to economically empower the African-American community through business activities, fostering growth and sustainability. The AACCNJ also provides training programs, such as the Small Business Bonding Readiness Assistance Program, to prepare individuals for pre-qualification bonding.
Official website here: www.aaccnj.com
Who is the CEO of African-American Chamber Of Commerce Of New Jersey?
Unavailable The CEO's salary of African-American Chamber Of Commerce Of New Jersey is $0 and their total compensation is $0.
Official website here: www.aaccnj.com
What is the revenue of African-American Chamber Of Commerce Of New Jersey?
African-American Chamber Of Commerce Of New Jersey's revenue in 2022 was $3,067,074.
Official website here: www.aaccnj.com
Who are the executives of African-American Chamber Of Commerce Of New Jersey and what are their salaries?
The average compensation at African-American Chamber Of Commerce Of New Jersey during 2022 was $32,615. There are 17 employees and 12 volunteers at African-American Chamber Of Commerce Of New Jersey.
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Official website here: www.aaccnj.com
Where can I find the form 990 for African-American Chamber Of Commerce Of New Jersey?
African-American Chamber Of Commerce Of New Jersey's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aaccnj.com
Learn more at the official website: www.aaccnj.com
Mission Statement of African-American Chamber Of Commerce Of New Jersey
The African-American Chamber of Commerce of New Jersey (AACCNJ) is committed to economically empowering and sustaining African-American communities within the State of New Jersey. This nonprofit organization achieves its mission by fostering entrepreneurship and capitalistic activities, and it collaborates with the National Black Chamber of Commerce, Inc (NBCC). Through its initiatives, AACCNJ aims to provide opportunities for economic growth and development within the African-American community. One of its key programs is the Small Business Bonding Readiness Assistance Program, which offers training to individuals, with many participants receiving pre-qualification bonding. This program is a testament to AACCNJ's dedication to equipping its community with the tools necessary to thrive in the business world.
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Impact
July, 2024
The African-American Chamber of Commerce of New Jersey has had a significant impact on economically empowering and sustaining African-American communities in the State of New Jersey. Through programs like the Small Business Bonding Readiness Assistance Program, the organization has successfully trained individuals, with a majority of participants receiving pre-qualification bonding. This initiative has helped foster entrepreneurship and economic growth within the African-American community in New Jersey. The chamber's dedication to these efforts aligns with their mission of fostering economic empowerment through entrepreneurship and capitalistic activities.
This information is meant to be a general summary of African-American Chamber Of Commerce Of New Jersey. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $576,103
- Gross Receipts: $3,067,074
Assets and Liabilities:
- Total Assets: $2,861,249
- Total Liabilities: $1,234,142
- Net Assets: $1,627,107
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Revenue
Revenue
$576,103
Organization Details
Founding Year
2007
Phone
(609) 751-1620Main Address
379 West State Street, Trenton, NJ, 08618
Website
www.aaccnj.comNTEE Category
Code: S41 - Community improvement
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