HUDSON COUNTY ECONOMIC DEVELOPMENT CORP

EIN: 223307613 501(c)(3) Community Improvement

JERSEY CITY, NJ

Total Revenue
$783,964
Total Expenses
$770,766
Total Assets
$1,775,773
Net Assets
$1,730,975
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
NJ
Principal Officer
MICHELLE RICHARDSON
Phone
2013694370
Tax Period
2025-01-01 to 2025-12-31

HUDSON COUNTY ECONOMIC DEVELOPMENT CORP, founded in 1994, is a small nonprofit in the Community Improvement sector that reported $784K in total revenue in fiscal year 2025. Revenue grew 16% year-over-year, indicating healthy expansion. Net assets of $1.7M represent 26 months of operating reserves.

Mission

NON-PROFIT ECONOMIC DEVELOPMENT CORPORATION IN HUDSON COUNTY, 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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $769,964
Program Service Revenue $0
Investment Income $0
Other Revenue $14,000
TOTAL REVENUE $783,964

Expense Breakdown

Grants Paid $0
Salaries & Benefits $174,333
Fundraising Expenses $0
Program Expenses $556,716
Other Expenses $596,433
TOTAL EXPENSES $770,766

Year-over-Year Comparison

2025 2024 Change
Revenue $783,964 $674,785 +0.2%
Expenses $770,766 $638,929 +0.2%
Net Income $13,198 $35,856 -0.6%
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
10
Independent Members
10
Employees
3
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
6
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEVIN O'CONNOR President 5.00
Officer Director
$0 $0 $0
KENNETH O'NEILL ASST. TREASURER 5.00
Officer Director
$0 $0 $0
RICHARD DWYER Treasurer 5.00
Officer Director
$0 $0 $0
FRANCESCA GIARRATANA Trustee 2.50
Director
$0 $0 $0
ALAN LAMBIASE Vice President 5.00
Officer Director
$0 $0 $0
HARRY MELENDEZ Secretary 5.00
Officer Director
$0 $0 $0
CARLOS MEDINA Trustee 2.50
Director
$0 $0 $0
NORMAN GUERRA Trustee 2.50
Director
$0 $0 $0
LISA PRUSKO Trustee 2.50
Director
$0 $0 $0
JERMAINE ROBINSON Trustee 2.50
Director
$0 $0 $0
MICHELLE RICHARDSON Executive Dir. 35.00
Officer
$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 $783,964 $770,766 $1,775,773 $13,198
2024 $674,785 $638,929 $1,756,013 $35,856
2023 $899,344 $834,153 $1,830,811 $65,191
2022 $649,952 $539,159 $1,739,771 $110,793
2021 $601,542 $734,233 $1,534,232 $-132,691
2020 $544,873 $822,025 $1,834,483 $-277,152
2019 $565,041 $626,636 $1,955,492 $-61,595
2018 $635,256 $632,960 $1,993,912 $2,296
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