HISTORIC DOWNTOWN SPECIAL IMPROVEMENTS DISTRICT (EIN 223568902) - 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

1998

Legal Domicile

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

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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 $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

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
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

HISTORIC DOWNTOWN SPECIAL IMPROVEMENTS DISTRICT