On July 11, 1995, about 1930 eastern daylight time, a Mooney M20J, N43JA, was substantially damaged during the landing roll, at the Allaire/Belmar/Farmingdale Airport, Belmar, New Jersey. The certified flight instructor (CFI) and the dual student, commercial pilot were not injured. Visual meteorological conditions prevailed and no flight plan had been filed. This flight was conducted as a currency training flight under 14 CFR Part 91. During the landing on runway 14, the airplane bounced, veered 90 degrees left, departed the runway, struck an airplane parked on the ramp and continued up an embankment before coming to rest. According to the CFI the airplane touched down, "...past the numbers on runway 14...nose high, and bounced." Power was applied to the engine, and an attempt was made to "push [the] nose down." The airplane "veered left, [the] left wing tip struck [a] parked airplane...." The commercial student pilot stated that on the third touch and go landing, the airplane touched down "hard" and in "nose-up attitude." When the airplane bounced he attempted to go-around, but "veered to the left." He then cut power. According to the FAA Inspector's statement, "[the] aircraft touched down on runway 14 at 3,700 feet [full length 7,000 feet and 80 feet wide]...[and] turned to the left." The FAA Inspector found the elevator trim in the full nose up position. On July 12, 1995, the FAA test ran the airplane's engine and found no discrepancies. The local weather reported at 1930 was; no clouds below 12,000 feet, visibility 10 miles, wind 180 degrees at 7 knots, temperature 73 degrees F, dew point 62 degrees F, altimeter 29.98 inches Hg.