PRIVATE INDUSTRY COUNCIL OF PASSAIC COUNTY INC

EIN: 222516129 501(c)(3) Employment

PATERSON, NJ

Total Revenue
$8,047,434
Total Expenses
$8,570,760
Total Assets
$8,355,408
Net Assets
$6,689,014
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
NJ
Principal Officer
BRUCE JAMES
Phone
9733403400
Tax Period
2024-07-01 to 2025-06-30

PRIVATE INDUSTRY COUNCIL OF PASSAIC COUNTY INC, founded in 1986, is a community nonprofit in the Employment sector that reported $8.0M in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE LOB TRAINING, LITERACY PROGRAMS AND VOCATIONAL EXPERIENCE TO INDIVIDUALS AND YOUTH IN COMPLIANCE WITH THE WORKFORCE INVESTMENT ACT OF 1998 AND THE STATE OF NJ MANDATES

Program Service Accomplishments

Program 1
Expenses: $2,635,507 Revenue: $0

WORKFORCE NEW JERSEY-TANF: WELFARE TO WORK TRAINING AND LITERACY PROGRAMS FOR NEEDY FAMILYS WHO RECEIVE WELFARE ASSISTANCE TO ENABLE THEM TO ENTER THE WORKFORCE

Program 2
Expenses: $1,610,314 Revenue: $0

WORKFORCE NEW JERSEY GENERAL ASSISTANCE: WELFARE TO WORK TRAINING AND LITERACY PROGRAMS FOR INDIVIDUALS RECIVING WELFARE ASSISTANCE TO ENABLE THEM TO ENTER THE WORKFORCE

Program 3
Expenses: $3,634,272 Revenue: $0

WORKFORCE INVESTMENT ACT YOUTH EDUCATION, TRAINING AND VOCATIONAL EXPERIENCE FOR YOUTH

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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 $8,047,434
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $8,047,434

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,636,869
Fundraising Expenses $0
Program Expenses $7,880,093
Other Expenses $3,933,891
TOTAL EXPENSES $8,570,760

Year-over-Year Comparison

2024 2023 Change
Revenue $8,047,434 $5,867,620 +0.4%
Expenses $8,570,760 $8,789,995 0.0%
Net Income $-523,326 $-2,922,375 -0.8%
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
3
Independent Members
3
Employees
85
Volunteers
75

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
0
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRUCE JAMES 200 MEMORIAL DR PATERSON, NJ 3.00
Director
$0 $0 $0
RANDY LASSITER 200 MEMORIAL DR PATERSON, NJ 3.00
Director
$0 $0 $0
JOHN CURRIE 200 MEMORIAL DR PATERSON, NJ 3.00
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 $8,047,434 $8,570,760 $8,355,408 $-523,326
2024 $5,867,620 $8,789,995 $9,362,607 $-2,922,375
2023 $6,722,597 $8,835,764 $13,592,838 $-2,113,167
2022 $8,665,964 $7,112,685 $8,802,108 $1,553,279
2021 $9,325,173 $8,606,029 $7,616,820 $719,144
2020 $11,387,371 $11,365,279 $7,065,919 $22,092
2019 $11,016,300 $11,215,495 No data $-199,195
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