Overview
What is New Jersey Manufacturing Extension Program Incorporated?
New Jersey Manufacturing Extension Program Incorporated, established in 1996, is a nonprofit organization situated in Cedar Knolls, New Jersey. Their primary mission is to boost the profitability and competitiveness of New Jersey's manufacturers. They achieve this by leveraging their team's expertise and establishing collaborative partnerships. The organization focuses on enhancing operational performance, driving new product development, fostering market expansion, promoting workforce development training, and facilitating technology adoption within the manufacturing sector. Their services extend to identifying areas of improvement and streamlining processes, ultimately aiming to strengthen the competitiveness of New Jersey's manufacturers. They operate with a staff of 60 individuals.
Official website here: www.njmep.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
The New Jersey Manufacturing Extension Program Incorporated has earned a strong Four-Star rating from Charity Navigator, reflecting its high standards in accountability and finance. The organization achieved a perfect score in several categories, including the independence of its board members and the effectiveness of its audit and oversight committee. These metrics indicate strong governance practices and transparency in operations.
The financial health of the organization is also commendable, with a program expense ratio of 77.86%, suggesting that a significant majority of its funds are directed towards its mission-related activities. The liabilities to assets ratio of 51.06% further signifies a responsible management of resources, helping to bolster trust among stakeholders and contributors.
While the overall performance is impressive, maintaining this level of accountability and financial integrity will be crucial for the organization's continued success. Stakeholders may also value ongoing updates on program impacts and outcomes to complement these strong financial metrics.
This AI summary has been generated from information found on Charity Navigator.
Is New Jersey Manufacturing Extension Program Incorporated legitimate?
New Jersey Manufacturing Extension Program Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Jersey Manufacturing Extension Program Incorporated 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: $485,622
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,247,966
For more financial information, click here
Official website here: www.njmep.org
What is the mission statement of New Jersey Manufacturing Extension Program Incorporated?
The New Jersey Manufacturing Extension Program Incorporated's mission is centered around enhancing the competitiveness of manufacturers. They aim to achieve this by strengthening their productivity, performance, and profitability. Acting as a trusted advisor, the program leverages its resources to identify areas for improvement and streamline processes. The organization's activities include boosting operational performance, facilitating new product development, expanding market reach, providing workforce development training, and promoting technology adoption.
Official website here: www.njmep.org
Who is the CEO of New Jersey Manufacturing Extension Program Incorporated?
Peter Connolly is the President/Ceo of New Jersey Manufacturing Extension Program Incorporated. The CEO's salary of New Jersey Manufacturing Extension Program Incorporated is $292,214 and their total compensation is $302,911.
Official website here: www.njmep.org
What is the revenue of New Jersey Manufacturing Extension Program Incorporated?
New Jersey Manufacturing Extension Program Incorporated's revenue in 2022 was $9,501,898.
Official website here: www.njmep.org
Who are the executives of New Jersey Manufacturing Extension Program Incorporated and what are their salaries?
The average compensation at New Jersey Manufacturing Extension Program Incorporated during 2022 was $62,226. There are 60 employees and 15 volunteers at New Jersey Manufacturing Extension Program Incorporated.
Here are 24 key members and their salaries (New Jersey Manufacturing Extension Program Incorporated's CEO's salary is $292,214 and their total compensation is $302,911):
- Compensation: $292,214
- Related: $0
- Other: $10,697
- Compensation: $162,807
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- Other: $20,030
- Compensation: $126,381
- Related: $0
- Other: $33,813
- Compensation: $141,561
- Related: $0
- Other: $6,624
- Compensation: $136,052
- Related: $0
- Other: $4,764
- Compensation: $116,637
- Related: $0
- Other: $14,304
- Compensation: $119,571
- Related: $0
- Other: $1,454
- Compensation: $88,007
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Official website here: www.njmep.org
Where can I find the form 990 for New Jersey Manufacturing Extension Program Incorporated?
New Jersey Manufacturing Extension Program Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.njmep.org
Learn more at the official website: www.njmep.org
Mission Statement of New Jersey Manufacturing Extension Program Incorporated
New Jersey Manufacturing Extension Program Incorporated, often referred to as NJMEP, is committed to enhancing the competitiveness of manufacturers in the state. As a trusted advisor, NJMEP leverages its staff and resources to identify areas of improvement and streamline processes for these manufacturers. The organization's mission is to strengthen their competitiveness by enhancing productivity, performance, and profitability. NJMEP achieves this by providing support in various aspects, including driving new product development, expanding market reach, delivering workforce development training and certification programs, and promoting technology adoption. By doing so, NJMEP aims to help New Jersey's manufacturers improve their operational performance and boost their overall success in the industry.
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Impact
October, 2024
The New Jersey Manufacturing Extension Program Incorporated (NJMEP) significantly enhances the profitability and competitiveness of manufacturers across the state. By leveraging staff expertise and collaborative partnerships, NJMEP has been a vital resource for operational performance and productivity improvements since 1996.
Their comprehensive services focus on key areas such as new product development, market expansion, and workforce development training, including certification programs that elevate the skill set of the workforce. Additionally, NJMEP promotes technology adoption, ensuring that manufacturers remain at the forefront of innovation.
As a trusted advisor, NJMEP identifies areas for improvement and helps streamline processes, ultimately leading to increased productivity and better performance in the manufacturing sector. This commitment not only strengthens individual businesses but also contributes to the overall economic vitality of New Jersey, making it a cornerstone of community improvement initiatives within the state.
This information is meant to be a general summary of New Jersey Manufacturing Extension Program Incorporated. 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.
- Investment Income: $11,771
- Program Service Revenue: $3,639,157
- Gross Receipts: $9,552,920
Assets and Liabilities:
- Total Assets: $3,992,200
- Total Liabilities: $1,917,507
- Net Assets: $2,074,693
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TRAINING AND CONSULTING PROGRAMS
Revenue
$3,514,307
MANUFACTURING DAY
Revenue
$124,850
Organization Details
Founding Year
1996
Phone
(973) 998-9801Principal Officer
Peter Connolly
Main Address
2 Ridgedale AvenueSuite 305, Cedar Knolls, NJ, 07927
Website
www.njmep.orgNTEE Category
Code: S020 - Community improvement
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