MIDJERSEY CENTER FOR ECONOMIC DEVELOPMENT

EIN: 260449187 501(c)(3)

PRINCETON, NJ

Total Revenue
$2,599
Total Expenses
$29,929
Total Assets
$6,568
Net Assets
$6,568
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
NJ
Principal Officer
JOSEPH MARUCA
Phone
6096899960
Tax Period
2018-01-01 to 2018-12-31

MIDJERSEY CENTER FOR ECONOMIC DEVELOPMENT, founded in 2007, is a micro nonprofit that reported $3K in total revenue in fiscal year 2018. Revenue fell 99% from the prior year — a significant decline worth monitoring. Expenses of $30K exceeded revenue, resulting in a 1052% operating deficit.

Mission

SUPPORT AND PROMOTE THE RENTENTION, EXPANSION AND ATTRACTION OF BUSINESS ENTITIES IN THE GREATER MERCER COUNTY REGION IN A MANNER THAT COMPLEMENTS THE EFFORTS OF OUR ECONOMIC DEVELOPMENT PARTNERS AND ENHANCES THE QUALITY OF LIFE.

Program Service Accomplishments

Program 1

ORGANIZATION SUPPORTS AND PROMOTES THE RETENTION, EXPANSION AND ATTRACTION OF BUSINESS ENTITIES IN THE GREATER MERCER COUNTY REGION

Program 2
Expenses: $13,610

THE MAYOR'S SUMMER YOUTH INITIATIVE IS A PROGRAM DESIGNED TO PUT CITY OF TRENTON YOUTH TO WORK EACH AND EVERY SUMMER AND PROVIDE THEM WITH THE LIFE SKILLS NECESSARY TO BE AN EFFECTIVE AND...

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THE MAYOR'S SUMMER YOUTH INITIATIVE IS A PROGRAM DESIGNED TO PUT CITY OF TRENTON YOUTH TO WORK EACH AND EVERY SUMMER AND PROVIDE THEM WITH THE LIFE SKILLS NECESSARY TO BE AN EFFECTIVE AND CONTRIBUTING PART OF A PROFESSIONAL WORK ENVIRONMENT. TO THAT END, THE MAYOR'S SUMMER YOUTH INITIATIVE IS A PUBLIC-PRIVATE PARTNERSHIP IN WHICH THE CITY OF TRENTON IDENTIFIES THE TARGET YOUTH AND THE PRIVATE PARTNERS WORK TOGETHER TO PROVIDE EITHER JOB OPPORTUNITIES OR DIRECT FUNDING TO SUPPORT THE PROGRAM. WE ESTIMATE THE COST OF A SINGLE JOB OVER THE COURSE OF THE SIX (6) WEEK TARGET PERIOD TO BE APPROXIMATELY 2,000. EACH 2,000 MONETARY DONATION WILL CONSTITUTE AS AN ADDITIONAL "JOB" THAT THE CITY OF TRENTON CAN OFFER. ANY FUNDING COLLECTED WILL BE ISSUED TO PARTNER 501(C)(3) NON-PROFITS TO PROVIDE THE FINANCIAL MEANS NECESSARY TO HIRE YOUTH FOR THE EMPLOYMENT PERIOD. THE MIDJERSEY CHAMBER OF COMMERCE, THROUGH ITS 501(C)(3) FOUNDATION, THE MIDJERSEY CENTER FOR ECONOMIC DEVELOPMENT (MIDCED), WILL FACILITATE THE PLACEMENT OF YOUTH DIRECTLY AND IS WORKING WITH THE CITY OF TRENTON TO COORDINATE TRANSPORTATION FOR YOUTH FROM A CENTRAL LOCATION IN TRENTON TO EACH PLACE OF EMPLOYMENT. FURTHERMORE, IN FUTURE YEARS, THE CHAMBER IN COLLABORATION WITH THE CITY OF TRENTON WILL DEVELOP PROGRAMMING TO PROVIDE ONE-DAY OF JOB SKILLS TRAINING FOR EACH YOUTH WHICH WILL COVER THE ESSENTIAL INFORMATION TO OPERATE IN A PROFESSIONAL ENVIRONMENT. IN THE SPIRIT OF COOPERATION, WE SEEK TO ENSURE THAT THE PROGRAM IS KEPT CURRENT AND MEETS THE NEEDS OF THE BUSINESS COMMUNITY AS WELL AS THE CITY OF TRENTON BY ADDITIONALLY FORMING A STEERING COMMITTEE THAT WILL MEET FROM OCTOBER OF EACH YEAR THROUGH THE FOLLOWING SUMMER IN ORDER TO REEVALUATE THE PROGRAM AND MAKE ADJUSTMENTS TO IMPROVE SERVICE AND GROW THE OPERATION. WE WILL ENSURE THAT THE STEERING COMMITTEE INCLUDES REPRESENTATIVES FROM OUR FUNDERS, THE BUSINESS COMMUNITY, NON-PROFIT ORGANIZATIONS AND THE CITY ITSELF. WE FEEL THIS PROGRAM IS EXTREMELY IMPORTANT TO THE CITY OF TRENTON AND PROVIDES AN OTHERWISE UNAVAILABLE AVENUE FOR JOB TRAINING AND PROFESSIONAL DEVELOPMENT FOR YOUTH IN THE CITY. WE ARE CONFIDENT THAT YOU WILL FEEL THE SAME WAY AND ARE EXCITED TO HAVE YOUR PARTICIPATION AS WE TAKE THIS MONUMENTAL MOVE TOGETHER.

Program 3
Expenses: $15,139

TRENTON DIGITAL INITIATIVE IS A PROGRAM THAT FOCUSES ON REFURBISHING DONATED COMPUTERS TO GIVE TO FAMILIES IN TRENTON WITHOUT CURRENT INTERNET ACCESS. TDI PARTNERS WITH COMCAST TO PROVIDE AFFORDABLE...

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TRENTON DIGITAL INITIATIVE IS A PROGRAM THAT FOCUSES ON REFURBISHING DONATED COMPUTERS TO GIVE TO FAMILIES IN TRENTON WITHOUT CURRENT INTERNET ACCESS. TDI PARTNERS WITH COMCAST TO PROVIDE AFFORDABLE INTERNET, WHILE TDI PROVIDES A COMPUTER OR LAPTOP AT NO COST. TDI HAS PARTNERED WITH MANY NONPROFITS AND SCHOOLS IN THE AREA TO HELP FAMILIES IN NEED AND IS CURRENTLY ON TRACK TO HIT 1,000 COMPUTERS PLACED BY THE END OF THE YEAR. WE HAVE VOLUNTEERS REFURBISH THE DONATED COMPUTERS WITH AN OPERATING SYSTEM CALLED UBUNTU AND WIPE THEM OF ANY INFORMATION FROM THE PREVIOUS OWNER.

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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 (2018)

Revenue Breakdown

Contributions & Grants $2,599
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $2,599

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $28,749
Other Expenses $29,929
TOTAL EXPENSES $29,929

Year-over-Year Comparison

2018 2017 Change
Revenue $2,599 $203,109 -1.0%
Expenses $29,929 $206,664 -0.9%
Net Income $-27,330 $-3,555 +6.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
17
Independent Members
17
Employees
N/A
Volunteers
55

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
3
$0
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RONALD L PERL CHAIRMAN 1.00
Officer Director
$0 $0 $0
DR JOSEPH LAMENDOLA VICE CHAIR 1.00
Officer Director
$0 $0 $0
JOSEPH MARUCA TREASURER 1.00
Officer Director
$0 $0 $0
ROLAND POTT TRUSTEE 1.00
Director
$0 $0 $0
TIMOTHY LOSCH TRUSTEE 1.00
Director
$0 $0 $0
THOMAS ROMANO TRUSTEE 1.00
Director
$0 $0 $0
FRANK LUCCHESI TRUSTEE 1.00
Director
$0 $0 $0
DR MICHAEL WILLIAMS TRUSTEE 1.00
Director
$0 $0 $0
KATHERINE KISH TRUSTEE 1.00
Director
$0 $0 $0
CAROL ANN SHORT TRUSTEE 1.00
Director
$0 $0 $0
ANTHONY CARABELLI JR TRUSTEE 1.00
Director
$0 $0 $0
JEFFREY HALL ESQ TRUSTEE 1.00
Director
$0 $0 $0
MARK IORIO TRUSTEE 1.00
Director
$0 $0 $0
DR WILLIAM KEEP TRUSTEE 1.00
Director
$0 $0 $0
KATIE GIBBS TRUSTEE 1.00
Director
$0 $0 $0
TIM TOUHEY TRUSTEE 1.00
Director
$0 $0 $0
STU DEMBER TRUSTEE 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
2018 $2,599 $29,929 $6,568 $-27,330
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