BAYONNE ECONOMIC OPPORTUNITY FOUNDATION

EIN: 221811616 501(c)(3) Human Services

BAYONNE, NJ

Total Revenue
$5,402,463
Total Expenses
$5,482,179
Total Assets
$2,483,980
Net Assets
$993,864
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Financial Trends

Organization Details

Formation Year
1965
Legal Domicile
NJ
Principal Officer
MICHELLE E BYRD
Phone
2014377222
Tax Period
2024-02-01 to 2025-01-31

BAYONNE ECONOMIC OPPORTUNITY FOUNDATION, founded in 1965, is a community nonprofit in the Human Services sector that reported $5.4M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE PROGRAMS GEARED PRIMARILY FOR LOW-INCOME CITIZENS, SENIOR CITIZENS AND HANDICAPPED RESIDENTS OF BAYONNE, NJ.

Program Service Accomplishments

Program 1
Expenses: $2,302,512 Revenue: $8,318

TO EMPOWER FAMILIES AND NURTURE AND EDUCATE YOUNG CHILDREN BETWEEN THE AGES OF 3 AND 5. THE PROGRAM IS A COMPREHENSIVE MEDICAL, DENTAL, PSYCHOLOGICAL, NUTRITIONAL AS WELL AS EDUCATIONAL PROGRAM. IT...

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TO EMPOWER FAMILIES AND NURTURE AND EDUCATE YOUNG CHILDREN BETWEEN THE AGES OF 3 AND 5. THE PROGRAM IS A COMPREHENSIVE MEDICAL, DENTAL, PSYCHOLOGICAL, NUTRITIONAL AS WELL AS EDUCATIONAL PROGRAM. IT FOSTERS PARENT ENGAGEMENT ENCOURAGING PARENTS TO BE INVOLVED IN THE PROGRAM. BEOF HEAD START PARTNERS WITH COMMUNITIES OF UNDERPRIVILEGED CHILDREN IN BAYONNE, NJ. THE PROGRAM INCORPORATES THE HIGH SCOPE CURRICULUM THAT PROMOTES SCHOOL READINESS. TO ADDRESS THE NEEDS OF SPECIAL NEEDS CHILDREN, THE BEOF OFFERS AN ON-SITE INCLUSION PROGRAM IN COOPERATION WITH THE BAYONNE BOARD OF EDUCATION. DURING THE 2024-25 SCHOOL YEAR THERE WERE 137 CHILDREN ENROLLED IN THE HEAD START PROGRAM, INCLUDING 6 CHILDREN WITH DISABILITIES. DURING THE YEAR THE PROGRAM RECEIVED $566,645 IN IN-KIND SUPPORT, INCLUDING RENT FROM BAYONNE CITY AND VARIOUS CONTRIBUTED EDUCATIONAL AND PROFESSIONAL SERVICES.

Program 2
Expenses: $1,970,141

TO PROVIDE ASSISTANCE TO LOW-INCOME INDIVIDUALS AND FAMILIES IN NEED. SOME OF THE OTHER SERVICES OFFERED TO ELIGIBLE RESIDENTS OF BAYONNE CITY INCLUDE: WEATHERIZATION ASSISTANCE, ENERGY ASSISTANCE...

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TO PROVIDE ASSISTANCE TO LOW-INCOME INDIVIDUALS AND FAMILIES IN NEED. SOME OF THE OTHER SERVICES OFFERED TO ELIGIBLE RESIDENTS OF BAYONNE CITY INCLUDE: WEATHERIZATION ASSISTANCE, ENERGY ASSISTANCE, NUTRITIOUS MEALS SERVED AT TWO NUTRITION SITES, MEALS-ON-WHEELS, TRANSPORTATION FOR ELDERLY AND/OR HANDICAPPED RESIDENTS, HOMELESS PREVENTION, FAIR HOUSING, AND COMMUNITY OUTREACH. DURING THE YEAR THE PROGRAM RECEIVED $988,309 IN IN-KIND SUPPORT

Program 3
Expenses: $220,000 Revenue: $220,000

ADMINISTER AND FACILITATE THE CITY OF BAYONNE'S COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM.PROVIDING A ZERO INTEREST DEFERRED LOAN FOR LOW TO MODERATE INCOME HOME OWNERS TO MAKE CODE, HEALTH AND...

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ADMINISTER AND FACILITATE THE CITY OF BAYONNE'S COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM.PROVIDING A ZERO INTEREST DEFERRED LOAN FOR LOW TO MODERATE INCOME HOME OWNERS TO MAKE CODE, HEALTH AND SAFETY REPAIRS TO OWNER OCCUPIED HOUSES.THE MAJORITY OF THE HOMES IN BAYONNE ARE MORE THAN 50 YEARS OLD, THIS BENEFICIAL SERVICE IS AN INVESTMENT HOME AND THE CITY SAFER AS WELL AS SUCCESSFULLY PROVIDING A BETTER QUALITY OF LIFE.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,159,190
Program Service Revenue $220,000
Investment Income $14,955
Other Revenue $8,318
TOTAL REVENUE $5,402,463

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,944,599
Fundraising Expenses $5,801
Program Expenses $4,492,653
Other Expenses $1,537,580
TOTAL EXPENSES $5,482,179

Year-over-Year Comparison

2024 2023 Change
Revenue $5,402,463 $4,686,583 +0.2%
Expenses $5,482,179 $5,259,517 +0.0%
Net Income $-79,716 $-572,934 -0.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
81
Volunteers
420

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
6
$474,555
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SAMANTHA HOWARD ED TO 9/15/24 37.50
Officer
$134,563 $121,156 $255,719
ANTHONY SEGARRA ED FR 9/16/24 37.50
Officer
$173,381 $45,455 $218,836
MICHELLE E BYRD CHAIRMAN 1.00
Officer Director
$0 $0 $0
DENISE DORANS VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
CHESTER BANKS TREASURER 1.00
Officer Director
$0 $0 $0
JACKIE FARBER SECRETARY 1.00
Officer Director
$0 $0 $0
KENNETH POESL TRUSTEE 1.00
Director
$0 $0 $0
HENRY PEREZ TRUSTEE 1.00
Director
$0 $0 $0
BARBARA PELLICCIO TRUSTEE 1.00
Director
$0 $0 $0
THOMAS COUGHLIN TRUSTEE 1.00
Director
$0 $0 $0
JASMIN CARRILIO TRUSTEE 1.00
Director
$0 $0 $0
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
2025 $5,402,463 $5,482,179 $2,483,980 $-79,716
2024 $4,686,583 $5,259,517 $2,459,835 $-572,934
2023 $5,319,829 $4,589,622 $2,337,792 $730,207
2022 $4,390,427 $4,072,304 $2,385,973 $318,123
2021 $3,984,068 $3,991,986 $896,779 $-7,918
2020 $3,543,097 $3,530,827 $842,616 $12,270
2019 $3,602,685 $3,469,829 $761,629 $132,856
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