Overview
What is New Jersey Shares Inc?
New Jersey Shares Inc is a dedicated nonprofit organization situated in Flemington, New Jersey. Their primary mission is to offer assistance to individuals and families struggling to pay their energy and utility bills. By providing temporary help, they alleviate financial burdens for those in need. They accomplish this through advocacy, community outreach, education, information, and referral services. Additionally, they connect low and moderate-income households with available resources to meet their ongoing needs. Their operations include statewide heating assistance, water bill payment assistance, and outreach and enrollment services for the Verizon Communications Lifeline program. With a team of 42 employees, New Jersey Shares Inc plays a crucial role in supporting New Jersey residents in managing their energy expenses.
Official website here: www.njshares.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81%, Three-Star out of Four Star rating.
New Jersey Shares Inc demonstrates a solid accountability and finance performance, achieving an overall score of 81%. The organization excels in several governance aspects, with 100% of its board members being independent, which enhances its transparency and decision-making integrity. The charity also adheres to best practices, as evidenced by its comprehensive policies on conflict of interest, whistleblower protection, and document retention.
The financial health of the organization is generally strong, particularly reflected in its high program expense ratio of 88.51%, indicating that a significant portion of its resources is directed towards its charitable activities. However, there is a noted concern with its liabilities to assets ratio, which scored 0 out of 15 points, suggesting potential issues with financial stability that may warrant further scrutiny. Overall, while New Jersey Shares Inc shows positive indicators in governance and program funding, attention to its financial liabilities may be necessary for sustained long-term success.
This AI summary has been generated from information found on Charity Navigator.
Is New Jersey Shares Inc legitimate?
New Jersey Shares Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Jersey Shares Inc 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: $378,993
Professional Fundraising Fees: $0
Other Salaries and Wages: $786,190
For more financial information, click here
Official website here: www.njshares.org
What is the mission statement of New Jersey Shares Inc?
New Jersey Shares Inc's mission is to offer assistance to individuals and families struggling to meet their energy and utility expenses. They achieve this through various means such as advocacy, community outreach, education, information, and referral services. The organization aims to connect low and moderate-income households with available resources to address their ongoing needs. New Jersey Shares Inc provides statewide heating assistance and referrals for energy services, as well as temporary help for individuals and families in New Jersey who are finding it challenging to pay their energy bills. They also offer outreach and enrollment services for the Verizon Communications Lifeline program.
Official website here: www.njshares.org
Who is the CEO of New Jersey Shares Inc?
Cheryl Stowell is the Chairperson of New Jersey Shares Inc. The CEO's salary of New Jersey Shares Inc is $217,038 and their total compensation is $231,356.
Official website here: www.njshares.org
What is the revenue of New Jersey Shares Inc?
New Jersey Shares Inc's revenue in 2022 was $8,748,108.
Official website here: www.njshares.org
Who are the executives of New Jersey Shares Inc and what are their salaries?
The average compensation at New Jersey Shares Inc during 2022 was $27,742. There are 42 employees and 24 volunteers at New Jersey Shares Inc.
Here are 26 key members and their salaries (New Jersey Shares Inc's CEO's salary is $217,038 and their total compensation is $231,356):
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- Compensation: $217,038
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- Other: $14,318
- Compensation: $127,903
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- Other: $28,535
Official website here: www.njshares.org
Where can I find the form 990 for New Jersey Shares Inc?
New Jersey Shares Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.njshares.org
Learn more at the official website: www.njshares.org
Mission Statement of New Jersey Shares Inc
New Jersey Shares Inc, a nonprofit organization, is committed to assisting individuals and families who are struggling to meet their energy and utility expenses. The mission of this organization is twofold. Firstly, New Jersey Shares Inc engages in advocacy and community outreach, providing education and information to help low and moderate income households in the state. Secondly, the organization connects these families with available resources to help them meet their ongoing energy and utility needs. In doing so, New Jersey Shares Inc serves as a bridge, linking those in need with the necessary assistance to alleviate their temporary financial burdens, particularly with regards to energy bills and water payments. The organization's efforts are instrumental in ensuring that families in New Jersey can maintain their basic living standards, thereby contributing to the overall well-being of the community.
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Impact
October, 2024
New Jersey Shares Inc significantly alleviates the energy and utility burdens faced by low and moderate-income households across the state. By offering assistance with heating and water bill payments, the organization directly addresses the immediate needs of individuals and families who are struggling to manage these essential expenses.
Through community outreach, advocacy, and educational initiatives, New Jersey Shares Inc empowers residents with the information and resources necessary to navigate energy services. They connect individuals to available assistance programs, ensuring that those in need can access critical support during challenging times.
Their efforts not only provide immediate relief but also contribute to long-term stability for families, preventing utility shutoffs and promoting overall well-being. In doing so, New Jersey Shares Inc enhances the quality of life for many, fostering a stronger, more resilient community.
This information is meant to be a general summary of New Jersey Shares Inc. 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: $11,337
- Program Service Revenue: $2,042,124
- Gross Receipts: $8,749,428
Assets and Liabilities:
- Total Assets: $6,353,092
- Total Liabilities: $4,935,837
- Net Assets: $1,417,255
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES FOR SERVI
Revenue
$1,742,124
VERIZON PROJECT
Revenue
$300,000
Organization Details
Founding Year
1997
Phone
(609) 883-1478Principal Officer
Cheryl Stowell
Main Address
4 WALTER E FORAN BLVD 105, FLEMINGTON, NJ, 08822
Website
www.njshares.orgNTEE Category
Code: P20 - Human services
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