New York Credit & Financial Management Assn Inc
- Assets
- $549.8k
- Revenue
- $357.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Scotch Plains, NJ
- Founding
- 02/1953
- Data as of
- 12/2019
- EIN
- 13-5582851
Organization Overview
New York Credit & Financial Management Assn Inc is located in Scotch Plains, NJ. The organization was established in 1953. According to its NTEE Classification (W02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Credit & Financial Management Assn Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2019, New York Credit & Financial Management Assn Inc generated $357.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $398.8k during the year ending 12/2019. While expenses have increased by 9.2% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING MEMBERS WITH PROFESSIONAL CREDIT GUIDANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING MEMBERS WITH PROFESSIONAL CREDIT MANAGEMENT PROGRAMS AND SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yesinne Alvarez President | Officer | 35 | $55,417 |
Lyle Wallis President | Officer | 20 | $37,500 |
Kelly Ceransky Director | Trustee | 20 | $0 |
Jesse Jaworski Director | Trustee | 20 | $0 |
George Herriott Director | Trustee | 20 | $0 |
Rob Santo Director | Trustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $322,980 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $357,349 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $95,000 |
| Compensation of current officers, directors, key employees. | $95,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,969 |
| Pension plan accruals and contributions | $10,965 |
| Other employee benefits | $13,636 |
| Payroll taxes | $15,914 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $8,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $843 |
| Office expenses | $0 |
| Information technology | $1,066 |
| Royalties | $0 |
| Occupancy | $198 |
| Travel | $8,131 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,474 |
| Interest | $540 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,999 |
| Insurance | $3,315 |
| All other expenses | $68,062 |
| Total functional expenses | $398,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,266 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,434 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,073 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $420,003 |
| Other assets | $0 |
| Total assets | $549,776 |
| Accounts payable and accrued expenses | $210,657 |
| Grants payable | $0 |
| Deferred revenue | $116,453 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $597,168 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $924,278 |
| Net assets without donor restrictions | -$374,502 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $549,776 |
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