THE PATERSON ALLIANCE INC

EIN: 020598570 501(c)(3) Community Improvement

PATERSON, NJ

Total Revenue
$424,179
Total Expenses
$411,108
Total Assets
$762,213
Net Assets
$216,168
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
NJ
Principal Officer
LAUREN FRARY
Phone
9735193655
Tax Period
2024-01-01 to 2024-12-31

THE PATERSON ALLIANCE INC, founded in 2001, is a small nonprofit in the Community Improvement sector that reported $424K in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $411K left a modest 3% surplus.

Mission

Uniting nonprofit and community partners to create a vibrant Paterson

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $415,802
Program Service Revenue $0
Investment Income $1,066
Other Revenue $7,311
TOTAL REVENUE $424,179

Expense Breakdown

Grants Paid $0
Salaries & Benefits $231,184
Fundraising Expenses $32,209
Program Expenses $345,437
Other Expenses $179,924
TOTAL EXPENSES $411,108

Year-over-Year Comparison

2024 2023 Change
Revenue $424,179 $324,918 +0.3%
Expenses $411,108 $324,025 +0.3%
Net Income $13,071 $893 +13.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
12
Independent Members
12
Employees
16
Volunteers
10

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
12
$0
Key Employees
3
$115,156
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD WILLIAMS PRESIDENT 3
Officer Director
$0 $0 $0
ROSIE GRANT VICE PRESIDENT 2
Officer Director
$0 $0 $0
KARA RABBIT SECRETARY 2
Officer Director
$0 $0 $0
JOSHUA CHANINIE TREASURER 2
Officer Director
$0 $0 $0
ANNY ALONZO BOARD MEMBER 1
Director
$0 $0 $0
ASHLEY BIGGS BOARD MEMBER 1
Director
$0 $0 $0
BRENDA BELMONT BOARD MEMBER 1
Director
$0 $0 $0
WILLIAM BRYANT BOARD MEMBER 1
Director
$0 $0 $0
GILMAN CHOUDHRY BOARD MEMBER 1
Director
$0 $0 $0
CARLOS LOPEZ BOARD MEMBER 1
Director
$0 $0 $0
MARISOL RODRIGUEZ BOARD MEMBER 1
Director
$0 $0 $0
RANA SABAGH BOARD MEMBER 1
Director
$0 $0 $0
SHANIKWA LEMON DIRECTOR OF PROGRAMS 40
Key Emp Highest
$62,238 $0 $62,238
LAUREN FRARY DIRECTOR OF OPERATIONS 16
Key Emp
$21,713 $0 $21,713
INGE SPUNGE RETIRING EXECUTIVE DIRECTOR 40
Key Emp
$31,205 $0 $31,205
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $424,179 $411,108 $762,213 $13,071
2023 $309,292 $308,399 $266,669 $893
2022 $224,426 $284,205 $242,245 $-59,779
2021 $272,438 $245,931 $291,259 $26,507
2020 $256,416 $217,820 $266,327 $38,596
2019 $292,440 $252,186 $235,407 $40,254
2018 $316,443 $241,383 $211,303 $75,060
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