UNION COUNTY ECONOMIC DEVELOPMENT CORP (EIN 222155884) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

ADAM FARRAH

Phone

9085271166

Tax Period

2025-01-01 to 2025-12-31

UNION COUNTY ECONOMIC DEVELOPMENT CORP, founded in 1977, is a community nonprofit in the Community Improvement sector that reported $4.1M in total revenue in fiscal year 2025. Expenses of $3.9M left a modest 4% surplus.

Mission

TO PROMOTE & DEVELOP ECONOMIC GROWTH IN NEW JERSEY.

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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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $2,630,412

Program Service Revenue $573,957

Investment Income $870,075

Other Revenue $0

TOTAL REVENUE $4,074,444

Expense Breakdown

Grants Paid $1,475

Salaries & Benefits $2,750,729

Fundraising Expenses $0

Program Expenses $3,373,336

Other Expenses $1,148,361

TOTAL EXPENSES $3,900,565

Year-over-Year Comparison

	2025	2024	Change
Revenue	$4,074,444	$4,222,014	0.0%
Expenses	$3,900,565	$4,151,612	-0.1%
Net Income	$173,879	$70,402	+1.5%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$907,705

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL WARRINGTON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
TOMAS PORTURAS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
MELISSA MURRAY CPA	TREASURER/SECRETARY	1.00	Officer Director	$0	$0	$0
GAIL M DRISCOLL	TRUSTEE	1.00	Director	$0	$0	$0
DRAGANA JOVANOVIC	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT L KATZ	TRUSTEE	1.00	Director	$0	$0	$0
MARLENE KURZ	TRUSTEE	1.00	Director	$0	$0	$0
PAUL T LACORTE	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL LETENDRE	TRUSTEE	1.00	Director	$0	$0	$0
JAMES MCMANUS JR	TRUSTEE	1.00	Director	$0	$0	$0
MARTIN P MELILLI	TRUSTEE	1.00	Director	$0	$0	$0
MARCY C METZ	TRUSTEE	1.00	Director	$0	$0	$0
GARY PFARR	TRUSTEE	1.00	Director	$0	$0	$0
JANE E REY	TRUSTEE	1.00	Director	$0	$0	$0
DR ELAINE M SANDERS	TRUSTEE	1.00	Director	$0	$0	$0
RODERICK SPEARMAN	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH P STARKEY	TRUSTEE	1.00	Director	$0	$0	$0
ADAM FARRAH	PRESIDENT	40.00	Officer	$261,955	$23,603	$285,558
ERICH PETER	EXECUTIVE VICE-PRESIDENT	40.00	Officer	$171,904	$42,328	$214,232
SANJAY MALIK	CONTROLLER	40.00	Officer	$161,905	$42,353	$204,258
ELIZABETH WILLIAMS	VICE-PRESIDENT LENDING	40.00	Officer	$184,939	$18,718	$203,657
DIANA HENRIQUEZ	DIRECTOR OF PORTFOLIO MANAGEMENT	40.00	Highest	$100,360	$16,119	$116,479
JOSEPH LAMBERTI	DIRECTOR OF TRAINING	40.00	Highest	$109,274	$14,935	$124,209
MARK LEICHTLING	DIRECTOR OF MICROLENDING	40.00	Highest	$108,084	$13,545	$121,629
NADINE CLARK	DIRECTOR OF PROCUREMENT	40.00	Highest	$102,717	$8,561	$111,278

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	$4,074,444	$3,900,565	$26,377,019	$173,879
2024	$4,222,014	$4,151,612	$26,838,573	$70,402
2023	$4,807,989	$3,819,951	$26,668,895	$988,038
2022	$5,346,138	$3,455,714	$24,391,052	$1,890,424
2021	$5,814,485	$2,933,056	$23,859,327	$2,881,429
2020	$3,587,392	$2,630,398	$19,181,232	$956,994
2019	$3,311,510	$2,801,721	$16,487,770	$509,789
2018	$4,283,366	$2,547,374	$15,700,054	$1,735,992

UNION COUNTY ECONOMIC DEVELOPMENT CORP