Overview
What is Carteret Business Partnership Llc?
Carteret Business Partnership Llc, also known as CBP Inc, is a nonprofit organization situated in Carteret, New Jersey. Its primary mission is to support the economic development of the borough of Carteret and Middlesex County, fostering business growth and development. The organization plays a crucial role in promoting goodwill between the business community and the general public. Their activities encompass assisting in infrastructure improvements, capital investments, and offering community support services. With a workforce of 114 individuals, CBP Inc is actively committed to driving development and strengthening the local business ecosystem.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50% (One-Star out of Four Star rating)
Carteret Business Partnership LLC has received a One-Star rating from Charity Navigator, indicating significant areas of concern in its accountability and financial practices. The organization has a strong board composition with 100% independent members, which reflects a commitment to governance. However, it has notable shortcomings, specifically in the absence of essential financial statements and policies related to conflict of interest and whistleblowing.
The financial health of the organization shows some positive indicators, such as a low liabilities to assets ratio of 3.52%, which suggests stability. Additionally, the program expense ratio is 55.02%, indicating that more than half of its expenditures are directed toward its programs. This could be seen as a positive aspect, though the low score in financial transparency raises red flags.
Overall, the lack of key financial documentation and policies could undermine donor confidence and transparency. For those considering supporting Carteret Business Partnership LLC, it is crucial to weigh these factors against its governance strengths and programmatic focus.
This AI summary has been generated from information found on Charity Navigator.
Is Carteret Business Partnership Llc legitimate?
Carteret Business Partnership Llc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Carteret Business Partnership Llc 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:
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Other Salaries and Wages: $0
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Official website here: www.none
What is the mission statement of Carteret Business Partnership Llc?
The mission of Carteret Business Partnership Llc is centered around assisting in economic development within a specific jurisdiction. Their primary goal is to promote business growth and development, fostering a positive relationship between the business community and the general public. Additionally, they contribute to infrastructure and capital improvements, providing community support and services. Their activities aim to enhance the local economy, encouraging business expansion and fostering goodwill with the community.
Official website here: www.none
Who is the CEO of Carteret Business Partnership Llc?
Mark Hruska is the Chairman of Carteret Business Partnership Llc.
Official website here: www.none
What is the revenue of Carteret Business Partnership Llc?
Carteret Business Partnership Llc's revenue in 2022 was $5,882,291.
Official website here: www.none
Who are the executives of Carteret Business Partnership Llc and what are their salaries?
There are 114 employees at Carteret Business Partnership Llc.
Here are 7 key members and their salaries:
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- Compensation: $39,000
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Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Carteret Business Partnership Llc
Carteret Business Partnership LLC is an organization dedicated to assisting in economic development within the community. Their mission is to promote business growth and development, fostering a positive relationship between the business community and the general public. This nonprofit organization aims to contribute to economic development by supporting infrastructure and capital improvements, thereby encouraging business expansion. Furthermore, Carteret Business Partnership LLC is committed to providing community support and services, working towards the betterment of the community as a whole.
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Impact
October, 2024
Carteret Business Partnership LLC plays a vital role in driving economic development in Carteret, New Jersey. By focusing on promoting business growth and development, the organization fosters a collaborative environment that benefits both the local business community and the general public.
Their efforts are centered on essential areas such as infrastructure and capital improvements, which are crucial for attracting new businesses and enhancing the operational capacity of existing ones. This, in turn, creates a robust local economy that can generate jobs and support community needs.
Moreover, Carteret Business Partnership LLC actively works to cultivate goodwill between businesses and residents, ensuring that the interests of both parties are represented and aligned. This collaborative approach not only improves community relations but also strengthens the overall economic landscape, making Carteret an appealing place for businesses to thrive and for residents to live.
This information is meant to be a general summary of Carteret Business Partnership Llc. 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: $37,982
- Program Service Revenue: $1,584,022
- Gross Receipts: $5,882,291
Assets and Liabilities:
- Total Assets: $62,759,478
- Total Liabilities: $2,215,176
- Net Assets: $60,544,302
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICES
Revenue
$1,584,022
Organization Details
Founding Year
2005
Phone
(732) 541-3829Principal Officer
Mark Hruska
Main Address
61 COOKE AVE, CARTERET, NJ, 07008
Website
www.noneNTEE Category
Code: S30 - Community improvement
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