Overview
What is Choose New Jersey Inc?
Choose New Jersey Inc is a 501(c)(3) economic development organization, strategically positioned in Newark, New Jersey. Their primary focus is to foster economic growth within the state by stimulating job creation and attracting capital investment. They achieve this by working hand-in-hand with governmental entities and local business leaders, targeting specific industries such as innovation & technology, life sciences, clean energy, advanced manufacturing, logistics, and food & agriculture. Their approach includes direct negotiations, business development missions, and participation in national and international trade shows. By offering free, confidential assistance, their knowledgeable staff aims to guide companies in establishing operations within New Jersey, ultimately contributing to the state's overall prosperity.
Official website here: www.choosenj.com
What are the reviews and ratings of this charity?
**Rating: 87% (Three-Star out of Four Star rating on Charity Navigator)**
Choose New Jersey Inc has earned a solid Three-Star rating on Charity Navigator, reflecting its strong accountability and financial management practices. The organization boasts a perfect score in several key areas, including its independent board composition and the absence of asset diversion, indicating a well-governed structure that prioritizes transparency and stewardship of funds.
The program expense ratio is remarkably high at 80.64%, suggesting that a substantial majority of funds are allocated towards fulfilling its mission rather than administrative costs. Furthermore, an efficient fundraising ratio of $0.08 per dollar raised highlights the organization’s effective fundraising strategy, which minimizes expenditure in this area. However, while the organization showcases strong financial protocols, some aspects like working capital may require monitoring, as it stands at approximately 0.53 years.
Unfortunately, user reviews from GreatNonprofits are currently unavailable, limiting the insights into public sentiment and experiences related to Choose New Jersey Inc. Overall, the organization's financial standing appears to be commendable, yet the lack of user feedback leaves a gap in understanding its impact from the community's perspective.
This AI summary has been generated from information found on Charity Navigator.
Is Choose New Jersey Inc legitimate?
Choose New Jersey Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Choose New Jersey 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: $716,201
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,490,944
For more financial information, click here
Official website here: www.choosenj.com
What is the mission statement of Choose New Jersey Inc?
Choose New Jersey Inc, a privately funded 501(c)(3) economic development organization, is dedicated to stimulating job creation and attracting capital investment within the United States. The organization promotes New Jersey as an ideal location for business growth, leveraging the expertise of its knowledgeable staff and a network of state agencies and private partners. By providing free, confidential assistance to companies, Choose New Jersey guides them in establishing operations in the state. By harnessing the power of business, labor, academic, and government leaders, Choose New Jersey enables growth across various sectors of the economy, aiming to build a stronger and more prosperous New Jersey for all.
Official website here: www.choosenj.com
Who is the CEO of Choose New Jersey Inc?
Wesley Mathews is the President And Ceo of Choose New Jersey Inc. The CEO's salary of Choose New Jersey Inc is $278,965 and their total compensation is $318,261.
Official website here: www.choosenj.com
What is the revenue of Choose New Jersey Inc?
Choose New Jersey Inc's revenue in 2022 was $8,239,156.
Official website here: www.choosenj.com
Who are the executives of Choose New Jersey Inc and what are their salaries?
The average compensation at Choose New Jersey Inc during 2022 was $84,890. There are 26 employees and 26 volunteers at Choose New Jersey Inc.
Here are 35 key members and their salaries (Choose New Jersey Inc's CEO's salary is $278,965 and their total compensation is $318,261):
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- Compensation: $278,965
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Official website here: www.choosenj.com
Where can I find the form 990 for Choose New Jersey Inc?
Choose New Jersey Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.choosenj.com
Learn more at the official website: www.choosenj.com
Mission Statement of Choose New Jersey Inc
Choose New Jersey Inc, a privately funded 501(c)(3) economic development organization, is on a mission to stimulate job creation and attract capital investment to New Jersey. This nonprofit organization positions New Jersey as the ideal location to grow a business within the United States, leveraging the expertise of its knowledgeable and experienced staff, as well as a network of state agencies and private partners. Choose New Jersey provides free, confidential assistance to guide companies in establishing operations in New Jersey, aiming to foster growth across all sectors of the state's economy. By harnessing the power of business, labor, academic, and government leaders, Choose New Jersey aspires to build a stronger and more prosperous New Jersey for all residents.
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Impact
October, 2024
Choose New Jersey Inc plays a significant role in fostering economic growth in the state by concentrating on business attraction and retention. The organization actively engages with both domestic and international markets to present New Jersey as a premier location for business development. By targeting key sectors such as innovation and technology, life sciences, clean energy, advanced manufacturing, logistics, and food and agriculture, Choose New Jersey seeks to spark job creation and stimulate capital investment.
Collaboration is a cornerstone of their strategy, working closely with governmental bodies, local business leaders, and community organizations. Through direct negotiations, economic development missions, and participation in trade shows, they communicate the unique advantages of operating in New Jersey. Their knowledgeable staff, along with a network of state agencies and private sector partners, provides confidential assistance to companies looking to establish or expand operations in the Garden State.
Overall, Choose New Jersey Inc significantly contributes to the state’s economic landscape by leveraging partnerships and strategies that not only support local businesses but also aim to improve the quality of life for all residents in the region.
This information is meant to be a general summary of Choose New Jersey 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: $36,348
- Gross Receipts: $8,239,156
Assets and Liabilities:
- Total Assets: $10,648,307
- Total Liabilities: $6,832,526
- Net Assets: $3,815,781
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Organization Details
Founding Year
2010
Phone
(609) 297-2200Principal Officer
Wesley Mathews
Main Address
ONE GATEWAY CENTER SUITE 1420, NEWARK, NJ, 07102
Website
www.choosenj.comNTEE Category
Code: S30 - Community improvement
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