SPRINGFIELD AVENUE CENTER SPECIAL IMPROVEMENT DISTRICT MANAGEMENT CORP

EIN: 223605782 Community Improvement

IRVINGTON, NJ

Total Revenue
$163,195
Total Expenses
$278,357
Total Assets
$490,865
Net Assets
$460,550
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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
1992
Legal Domicile
NJ
Principal Officer
DR THOMAS PANITCH
Phone
9739799134
Tax Period
2024-07-01 to 2025-06-30

SPRINGFIELD AVENUE CENTER SPECIAL IMPROVEMENT DISTRICT MANAGEMENT CORP, founded in 1992, is a small nonprofit in the Community Improvement sector that reported $163K in total revenue in fiscal year 2024. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $278K exceeded revenue, resulting in a 71% operating deficit.

Mission

TO PROVIDE A CLEAN AND SAFE ENVIRONMENT FOR COMMERCE AND TO REVITALIZE THE DISRTICT, THE ORGANIZATION HAS INSTITUTED PROGRAMS TO RENOVATE THE COMMON AREAS AND COMMERCIAL STREETS AND SIDEWALKS.

Program Service Accomplishments

Program 1

REVENUE RECEIVED

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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 $145,974
Program Service Revenue $17,221
Investment Income $0
Other Revenue $0
TOTAL REVENUE $163,195

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $278,357
TOTAL EXPENSES $278,357

Year-over-Year Comparison

2024 2023 Change
Revenue $163,195 $444,171 -0.6%
Expenses $278,357 $268,042 +0.0%
Net Income $-115,162 $176,129 -1.7%
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
7
Employees
N/A
Volunteers
2

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
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RALPH VENTRE PRESIDENT 3.00
Director
$0 $0 $0
THOMAS PANITCH VICE PRESIDENT 1.00
Director
$0 $0 $0
LUDIN PIERRE IRVINGTON CHAMBER OF COMMERCE-DIRECTOR 1.00
Director
$0 $0 $0
DAVID BIAGINI CORPORATE SECRETARY 10.00
Director
$0 $0 $0
ATURO COUSAR TREASURER 2.00
Director
$0 $0 $0
DEBORAH SIMPKINS TOWNSHIP OF IRVINGTON DIRECTOR OF ECONOMIC DEVELOPMENT- DIRECOR 1.00
Director
$0 $0 $0
ORENTHIA RICKETTS DIRECTOR 1.00
Director
$0 $0 $0
JAMILAH BEASLEY TOWNSHIP OF IRVINGTON COUNCIL PRES - DIRECTOR 1.00
Director
$0 $0 $0
ROSCOE COLEMAN DIRECTOR 1.00
Director
$0 $0 $0
KEVIN BOYKINS IRVINGTON CHAMBER OF COMMERCE-DIRECTOR 1.00
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 $163,195 $278,357 $490,865 $-115,162
2024 $444,171 $268,042 $593,302 $176,129
2023 $293,881 $276,338 $417,172 $17,543
2022 $295,777 $238,974 $395,292 $56,803
2021 $295,880 $232,396 $339,912 $63,484
2020 $297,279 $231,278 $272,032 $66,001
2019 $297,235 $224,232 $504,565 $73,003
2018 $295,313 $232,414 $431,266 $62,899
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