Civic Intelligence

Garden State Initiative Inc

EIN 81-4373354 • 501(c)3 • Morristown, NJ

Profile

The primary purpose of the organization is to strengthen new jersey by providing an alternative voice and common-sense policy solutions in the state, solutions that promote new investment, the growth of businesses, the creation of economic opportunities and innovation to the benefit of all new jerseyans.

PO Box 9180Morristown, NJ 07963

www.gardenstateinitiative.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.04x

Higher debt load relative to assets than 66% of similar nonprofits.

NTEE W • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

0.03x

Higher debt load relative to revenue than 65% of similar nonprofits.

NTEE W • $500k-$1M nonprofits • Source year 2024

Net Margin

61st percentile

17%

Higher net margin than 61% of similar nonprofits.

NTEE W • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

83rd percentile

$63,333

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

NTEE W • $500k-$1M nonprofits • Source year 2024

Asset Growth

74th percentile

32%

Faster asset growth than 74% of similar nonprofits.

NTEE W • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

54th percentile

15%

Faster revenue growth than 54% of similar nonprofits.

NTEE W • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$329,295

Up $80,003 (+32%) from 2023

Liabilities

Down

$13,583

Down $6,132 (-31%) from 2023

Net Assets

Up

$315,712

Up $86,135 (+38%) from 2023

Revenue

Up

$504,828

Up $64,875 (+15%) from 2023

Expenses

Up

$418,693

Up $23,250 (+5.9%) from 2023

Net Income

Up

$86,135

Up $41,625 (+94%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2017: $245,865Liabilities 2017: $14,362Net Assets 2017: $231,5032017Assets 2018: $160,006Liabilities 2018: $26,202Net Assets 2018: $133,8042018Assets 2019: $149,171Liabilities 2019: $16,606Net Assets 2019: $132,5652019Assets 2020: $584,741Liabilities 2020: $26,327Net Assets 2020: $558,4142020Assets 2021: $224,976Liabilities 2021: $25,705Net Assets 2021: $199,2712021Assets 2022: $213,131Liabilities 2022: $28,064Net Assets 2022: $185,0672022Assets 2023: $249,292Liabilities 2023: $19,715Net Assets 2023: $229,5772023Assets 2024: $329,295Liabilities 2024: $13,583Net Assets 2024: $315,7122024

Highlighted filing

2024

Assets$329,295
Liabilities$13,583
Net Assets$315,712

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2017: $430,113Expenses 2017: $198,610Net Income 2017: $231,5032017Revenue 2018: $414,604Expenses 2018: $512,303Net Income 2018: -$97,6992018Revenue 2019: $329,660Expenses 2019: $330,899Net Income 2019: -$1,2392019Revenue 2020: $675,459Expenses 2020: $249,610Net Income 2020: $425,8492020Revenue 2021: $818,800Expenses 2021: $1,177,943Net Income 2021: -$359,1432021Revenue 2022: $532,960Expenses 2022: $547,138Net Income 2022: -$14,1782022Revenue 2023: $439,953Expenses 2023: $395,443Net Income 2023: $44,5102023Revenue 2024: $504,828Expenses 2024: $418,693Net Income 2024: $86,1352024

Highlighted filing

2024

Revenue$504,828
Expenses$418,693
Net Income$86,135

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 24, 2025
Return Version
2024v5.2
Gross Receipts
$511,605
Mission and Program Overview

Mission

The primary purpose of the organization is to strengthen new jersey by providing an alternative voice and common-sense policy solutions in the state, solutions that promote new investment, the growth of businesses, the creation of economic opportunities and innovation to the benefit of all new jerseyans.

To strengthen new jersey by providing an alternative voice and commen-sense policy solutions in the state.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$49,206$217,787▲ $168,581
Savings and Temporary Cash Investments$192,686$105,411▼ $87,275
Prepaid Expenses and Deferred Charges$7,400$6,097▼ $1,303
Total Assets$249,292$329,295▲ $80,003
Liabilities
Accounts Payable and Accrued Expenses$19,715$13,583▼ $6,132
Total Liabilities$19,715$13,583▼ $6,132
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$229,577$223,212▼ $6,365
Net Assets With Donor Restrictions-$92,500-
Total Net Assets Fund Balance$229,577$315,712▲ $86,135
Total Liabilities and Net Assets / Fund Balance$249,292$329,295▲ $80,003
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Audrey LanePresidentFT$63,333$63,333

Board Members and Trustees

NameTitle
Regina EgeaChairman
Frayda LevinBoard Member
Lawrence MoneBoard Member
Robert HuginBoard Member
Samuel ColeBoard Member
Thomas HealeySecretary
Dipal PatelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$503,623
Program Service Revenue
$0
Investment Income
$204
Other Revenue
$1,001
All Other Contributions
$503,623
Change in Net Assets
$86,135

Audited Revenue Reconciliation

Revenue per Audited Statements
$504,828
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$504,828
Total Revenue per Form 990
$504,828
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$341,629
Salaries, Compensation, and Employee Benefits$77,064
Total Fundraising Expense$7,036
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$88,330-$2,732$91,062
Current Officers, Directors, Trustees, and Key Employees$38,000$22,167$3,167$63,334
Advertising$42,174--$42,174
Fees for Services Accounting-$20,000-$20,000
Other Salaries and Wages$4,749$2,771$396$7,916
Fees for Services Legal-$6,612-$6,612
Payroll Taxes$3,488$2,035$291$5,814
Office Expenses-$5,500-$5,500
Occupancy$1,500$1,050$450$3,000
Insurance-$1,397-$1,397
Other Expenses$500$3,421-$500
Travel$304--$304
Total Functional Expenses$346,704$64,953$7,036$418,693

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$418,693
Total Expenses per Audited Statements$418,693
Total Expenses per Form 990$418,693
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Garden state initiative, inc. Has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is provided to the members of the organizations governing body for any comments prior to its submission. The governing body is provided with a reasonable amount of time to review the form 990. Any comments are then grouped, summarized and provided through management to the outside accounting firm. Any applicable issues are addressed prior to the return being finalized and approved for filing.

Form 990, Part VI, Section B, Line 12C

Garden state initiative, inc. Currently has in place a conflict of interest policy which it regularly monitors and enforces. The board mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. If a potential or actual conflict of interest exists, governing body and management will investigate the issue. If a conflict of interest is determined to exist management and the governing body will be notified immediately. The member will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time that there is no longer a conflict.

Form 990, Part VI, Section B, Line 15A

The compensation of the organizations officers or key employees is reviewed and approved by the board of trustees, an independent body.

Form 990, Part VI, Section C, Line 19

Garden state initiative, inc. Makes its form 990 available for public inspection as required under section 6104 of the internal revenue code upon written request at the organization's office at p.o. Box 9180 morristown, nj 07963. In addition form 1023 as well as the financial statements, and conflict of interest policy are available upon written request at the organization's office at p.o. Box 9180 morristown, nj 07963.

Filing and Contact Details

Filer

Filer Name
Garden State Initiative Inc
EIN
81-4373354
Phone
8623457275
Address
PO BOX 9180, MORRISTOWN, NJ 07963

Signing Officer

Name
Audrey Lane
Title
President
Phone
8623457275
Signed
2025-10-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Audrey Lane
Formed
2016
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
7

Preparer

Firm
Nisivoccia Llp
Address
200 VALLEY RD SUITE 300, MT ARLINGTON, NJ 07856
Preparer
Ryan a Hynson CPA
Phone
9733281825
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consultants and outside services: program service expenses 88,330. Management and general expenses 0. Fundraising expenses 2,732. Total expenses 91,062.

Form 990, Part X11, Line 2C

No change from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from federal income taxes under the provision of section 501(c)(3) of the internal revenue code and classified by the internal revenue service as other than a private foundation. The organization is also exempt under title 15 of the state of new jersey corporations and associations not-for-profit act. Accordingly, no provision for federal or state income tax has been presented in the accompanying financial statements. The organization follows the provisions of fasb asc, income taxes. The standard prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition as they relate to those tax positions. The organization does not expect a significant increase or decrease to the total amounts of unrecognized tax positions during the year ended december 31, 2024. However, the organization is subject to audit by tax authorities including a review of its nonprofit status which management believes would be upheld upon examination. The organization believes that it has appropriate support for the positions taken on its tax returns. Nonetheless, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year. As required by law, the organization files informational returns with both the united states federal and various state jurisdictions on an annual basis - form 990 with the internal revenue service, and the applicable return with each state. These returns are subject to examination by these authorities within certain statutorily defined periods for both federal and for each state jurisdiction.

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IRS990/RegularMonitoringEnfrcInd01
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISION OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. THE ORGANIZATION IS ALSO EXEMPT UNDER TITLE 15 OF THE STATE OF NEW JERSEY CORPORATIONS AND ASSOCIATIONS NOT-FOR-PROFIT ACT. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX HAS BEEN PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC, INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION AS THEY RELATE TO THOSE TAX POSITIONS. THE ORGANIZATION DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE YEAR ENDED DECEMBER 31, 2024. HOWEVER, THE ORGANIZATION IS SUBJECT TO AUDIT BY TAX AUTHORITIES INCLUDING A REVIEW OF ITS NONPROFIT STATUS WHICH MANAGEMENT BELIEVES WOULD BE UPHELD UPON EXAMINATION. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS TAX RETURNS. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED FOR EACH YEAR. AS REQUIRED BY LAW, THE ORGANIZATION FILES INFORMATIONAL RETURNS WITH BOTH THE UNITED STATES FEDERAL AND VARIOUS STATE JURISDICTIONS ON AN ANNUAL BASIS - FORM 990 WITH THE INTERNAL REVENUE SERVICE, AND THE APPLICABLE RETURN WITH EACH STATE. THESE RETURNS ARE SUBJECT TO EXAMINATION BY THESE AUTHORITIES WITHIN CERTAIN STATUTORILY DEFINED PERIODS FOR BOTH FEDERAL AND FOR EACH STATE JURISDICTION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GARDEN STATE INITIATIVE, INC. HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS PROVIDED TO THE MEMBERS OF THE ORGANIZATIONS GOVERNING BODY FOR ANY COMMENTS PRIOR TO ITS SUBMISSION. THE GOVERNING BODY IS PROVIDED WITH A REASONABLE AMOUNT OF TIME TO REVIEW THE FORM 990. ANY COMMENTS ARE THEN GROUPED, SUMMARIZED AND PROVIDED THROUGH MANAGEMENT TO THE OUTSIDE ACCOUNTING FIRM. ANY APPLICABLE ISSUES ARE ADDRESSED PRIOR TO THE RETURN BEING FINALIZED AND APPROVED FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GARDEN STATE INITIATIVE, INC. CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY WHICH IT REGULARLY MONITORS AND ENFORCES. THE BOARD MANDATES THAT ALL MEMBERS OF MANAGEMENT AND THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. IF A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS, GOVERNING BODY AND MANAGEMENT WILL INVESTIGATE THE ISSUE. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST MANAGEMENT AND THE GOVERNING BODY WILL BE NOTIFIED IMMEDIATELY. THE MEMBER WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DECISIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL SUCH TIME THAT THERE IS NO LONGER A CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE ORGANIZATIONS OFFICERS OR KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES, AN INDEPENDENT BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GARDEN STATE INITIATIVE, INC. MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE UPON WRITTEN REQUEST AT THE ORGANIZATION'S OFFICE AT P.O. BOX 9180 MORRISTOWN, NJ 07963. IN ADDITION FORM 1023 AS WELL AS THE FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST AT THE ORGANIZATION'S OFFICE AT P.O. BOX 9180 MORRISTOWN, NJ 07963.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTANTS AND OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 88,330. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 2,732. TOTAL EXPENSES 91,062.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO CHANGE FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART X11, LINE 2C
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0AUDREY LANE
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NISIVOCCIA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0200 VALLEY RD SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MT ARLINGTON
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007856
ReturnHeader/PreparerPersonGrp/PhoneNum09733281825

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