IRONBOUND BUSINESS IMPROVEMENT DISTRICT MANAGEMENT CORPORATION

EIN: 223768103 501(c)(3) Community Improvement

NEWARK, NJ

Total Revenue
$1,032,227
Total Expenses
$1,095,001
Total Assets
$399,668
Net Assets
$399,668
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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
2000
Legal Domicile
NJ
Principal Officer
SETH GROSSMAN
Phone
9734919191
Tax Period
2023-01-01 to 2023-12-31

IRONBOUND BUSINESS IMPROVEMENT DISTRICT MANAGEMENT CORPORATION, founded in 2000, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2023.

Mission

THE IRONBOUND BUSINESS IMPROVEMENT DISTRICT MANAGEMENT CORP. IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND THE REGULATIONS THEREUNDER AS THEY MAY HEREAFTER BE AMENDED TO SERVE AS THE DISTRICT MANAGEMENT CORPORATION FOR THE IRONBOUND SPECIAL IMPROVEMENT DISTRICT PROVISION PURSUANT TO N.J.S.A. 40:56-65 ET SEQ.

Program Service Accomplishments

Program 1
Expenses: $893,220 Revenue: $0

VARIOUS COMMUNITY SERVICES PUBLIC RELATIONS & STREET CLEANING

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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 $1,032,227
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,032,227

Expense Breakdown

Grants Paid $0
Salaries & Benefits $61,423
Fundraising Expenses $0
Program Expenses $893,220
Other Expenses $1,033,578
TOTAL EXPENSES $1,095,001

Year-over-Year Comparison

2023 2022 Change
Revenue $1,032,227 $1,059,177 0.0%
Expenses $1,095,001 $1,078,119 +0.0%
Net Income $-62,774 $-18,942 +2.3%
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
13
Independent Members
13
Employees
1
Volunteers
13

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
0
$0
Key Employees
2
$50,760
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVEN T YGLESIAS PRESIDENT EMERITUS 2.00
$0 $0 $0
JONATHAN SEABRA 1ST V PRESIDENT 2.00
$0 $0 $0
MANUEL LOPES PRESIDENT 2.50
$0 $0 $0
SETH A GROSSMAN CORPORATE FINANCE OFFICER 40.00
Key Emp
$0 $0 $0
OSCAR SANCHEZ SECRETARY 2.00
$0 $0 $0
FILIPE PEREIRA TRUSTEE 2.00
$0 $0 $0
HELEN VINHAS 2ND V PRESIDENT/TRUSTEE 2.00
$0 $0 $0
RAS J BARAKA TRUSTEE 2.00
$0 $0 $0
LEYSLY V ROLDAN-CARVALHO ADMINISTRATIVE ASSISTANT 40.00
Key Emp
$50,760 $0 $50,760
ANTONIO MARTINEZ TRUSTEE 2.00
$0 $0 $0
VINCNET DAVIS TRUSTEE 2.00
$0 $0 $0
NICOLE FIELDS TRUSTEE 2.00
$0 $0 $0
MICHAEL SILVA TRUSTEE 2.00
$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
2024 No data No data No data No data
2023 $1,032,227 $1,095,001 $399,668 $-62,774
2022 $1,059,177 $1,078,119 $462,442 $-18,942
2021 $927,906 $976,660 $459,104 $-48,754
2021 $927,906 $955,940 $481,384 $-28,034
2020 $1,342,043 $998,716 $509,418 $343,327
2020 $1,342,043 $1,000,276 $507,858 $341,767
2019 $906,449 $976,883 $166,091 $-70,434
2018 $1,405,818 $1,149,961 $275,562 $255,857
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