PRIVATE INDUSTRY COUNCIL OF PASSAIC COUNTY INC (EIN 222516129) - 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

1986

Legal Domicile

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

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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 (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

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

Total Directors

Key Employees

Highest Compensated

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

PRIVATE INDUSTRY COUNCIL OF PASSAIC COUNTY INC