JERSEY CITY ECONOMIC DEVELOPMENT CORP (EIN 222304615) - 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

1980

Legal Domicile

Phone

2013337797

Tax Period

2023-07-01 to 2024-06-30

JERSEY CITY ECONOMIC DEVELOPMENT CORP, founded in 1980, is a community nonprofit in the Community Improvement sector that reported $3.8M in total revenue in fiscal year 2023. Revenue surged 102% from the prior year, signaling strong growth momentum.

Mission

TO PROMOTE, ENCOURAGE AND ASSIST IN THE INDUSTRIAL, COMMERCIAL AND ECONOMIC DEVELOPMENT OF THE CITY OF JERSEY CITY, THEREBY INCREASING THE COMMERCIAL/TRADE OF THE CITY CREATING GREATER EMPLOYMENT OPPORTUNITIES AND BROADENING THE TAX BASE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $3,711,992

Program Service Revenue $1,765

Investment Income $79,932

Other Revenue $1,064

TOTAL REVENUE $3,794,753

Expense Breakdown

Grants Paid $0

Salaries & Benefits $495,300

Fundraising Expenses $0

Program Expenses $3,600,685

Other Expenses $3,593,372

TOTAL EXPENSES $4,088,672

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,794,753	$1,875,777	+1.0%
Expenses	$4,088,672	$2,301,668	+0.8%
Net Income	$-293,919	$-425,891	-0.3%

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

N/A

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

$336,262

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FLORENCE BARON	Development Dir	40.00	Officer	$99,225	$0	$99,225
JENNIFER MOORE WATERMAN	DIR.OF BUSINESS	40.00	Officer	$99,225	$0	$99,225
SHANNON MITCHELL	SENIOR ASSOC.	40.00	Officer	$77,175	$0	$77,175
MIRIAM TINEO	FINANCIAL ADMIN	40.00	Officer	$60,637	$0	$60,637
ROSEMARY MCFADDEN	Chairwoman	5.00	Director	$0	$0	$0
MAYOR STEVEN FULOP	Trustee	0.00	Director	$0	$0	$0
NICHOLAS CAVALUZZI	Secretary	0.00	Director	$0	$0	$0
JEFF JUSTICE WILLIAMS	Trustee	0.00	Director	$0	$0	$0
BRENDAN SOMERVILLE	Vice-Chair.	0.00	Director	$0	$0	$0
KIA DEADWYLER	Asst.Secretary	0.00	Director	$0	$0	$0
OSMAN GANI	Trustee	0.00	Director	$0	$0	$0
SURAJ KAUFMAN	Treasurer	0.00	Director	$0	$0	$0
PHILIP MCGOVERN	Trustee	0.00	Director	$0	$0	$0
RICHARD CAMPISANO ESQ	Trustee/Counsel	0.00	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
2024	$3,794,753	$4,088,672	$7,526,087	$-293,919
2023	$1,875,777	$2,301,668	$2,043,984	$-425,891
2022	$2,488,701	$2,480,555	$2,457,867	$8,146
2021	$10,799,259	$11,978,433	$2,463,752	$-1,179,174
2020	$2,009,014	$934,881	$3,477,498	$1,074,133
2019	$380,089	$1,114,026	$2,219,771	$-733,937
2019	$934,062	$1,195,156	$2,475,700	$-261,094
2018	$639,657	$924,051	$2,966,598	$-284,394

JERSEY CITY ECONOMIC DEVELOPMENT CORP