HISTORIC DOWNTOWN SPECIAL IMPROVEMENTS DISTRICT

EIN: 223568902 Community Improvement

JERSEY CITY, NJ

Total Revenue
$1,088,969
Total Expenses
$1,071,716
Total Assets
$72,978
Net Assets
$-115,992
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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
1998
Legal Domicile
NJ
Principal Officer
STEVE KALCANIDES
Phone
2015473554
Tax Period
2023-07-01 to 2024-06-30

HISTORIC DOWNTOWN SPECIAL IMPROVEMENTS DISTRICT, founded in 1998, is a community nonprofit in the Community Improvement sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum.

Mission

ENHANCE ECONOMIC CLMATE IN BUSINESS DISTRICT

Program Service Accomplishments

Program 1

SAFETY AND MAINTENANCE OF SPECIAL IMPROVEMENT HAS BEEM IMPROVED.THIS IMPROVES OVERALL BUSINESSCLIMATE IN THE AREA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,088,900
Investment Income $69
Other Revenue $0
TOTAL REVENUE $1,088,969

Expense Breakdown

Grants Paid $0
Salaries & Benefits $463,614
Fundraising Expenses $0
Other Expenses $608,102
TOTAL EXPENSES $1,071,716

Year-over-Year Comparison

2023 2022 Change
Revenue $1,088,969 $885,008 +0.2%
Expenses $1,071,716 $936,857 +0.1%
Net Income $17,253 $-51,849 -1.3%
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

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Governance

Voting Members
9
Independent Members
9
Employees
12
Volunteers
7

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
5
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE KALCANIDES 15 FREEDOM WAY, JERSEY CITY, NJ 07305 3.00
Officer
$0 $0 $0
NIMA NILLI 317 GROVE STREET JERSEY CITY NJ 07302 2.00
Officer
$0 $0 $0
FRANK FIORE 125 NEWARK AVENUE, JERSEY CITY, NJ 07302 2.00
Director
$0 $0 $0
SHERRY SINGH 56 TERRACE AVE, WEST ORANGE, NJ 07052 2.00
Officer
$0 $0 $0
ISABEL MENDEZ 344 GROVE ST, JERSEY CITY, NJ 07302 2.00
Officer
$0 $0 $0
ROBYN GRODNER 160 NEWARK AVE, JERSEY CITY, NJ 07302 2.00
Officer
$0 $0 $0
MARK KAHN 126 NEWARK AVE, JERSEY CITY, NJ 07302 2.00
Director
$0 $0 $0
JEREMY TIRPAK 242 BAY ST, JERSEY CITY, NJ 07302 2.00
Director
$0 $0 $0
GERALD BLANKMAN 172 NEWARK AVE JERSEY CITY NJ 07302 1.00
Director
$0 $0 $0
RACHEL BUDOW SIEG 321 BALDWIN AVENUE, JERSEY CITY, NJ 07306 40.00
Highest
$113,745 $0 $113,745
MARIANO VEGA 158 NEWARK AVE, JERSEY CITY, NJ 07302 2.00
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 No data No data No data No data
2024 $1,088,969 $1,071,716 $72,978 $17,253
2023 $885,008 $936,857 $55,496 $-51,849
2022 $906,030 $872,403 $82,630 $33,627
2021 $599,781 $654,740 $113,772 $-54,959
2020 $569,787 $600,614 $170,737 $-30,827
2019 $612,723 $646,920 $48,061 $-34,197
2018 $615,886 $639,368 $50,956 $-23,482
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