75 SPRUCE STREET DEVELOPMENT INC

EIN: 261150169 501(c)(3) Community Improvement

PATERSON, NJ

Total Revenue
$1,518,407
Total Expenses
$1,326,981
Total Assets
$7,631,487
Net Assets
$2,635,174
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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
ROBERT GUARASCI
Phone
9734131600
Tax Period
2022-07-01 to 2023-06-30

75 SPRUCE STREET DEVELOPMENT INC, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2022. Expenses of $1.3M left a modest 13% surplus.

Mission

TO PROVIDE EDUCATIONAL OPPORTUNITY AND COMMUNITY DEVELOPMENT IN THE CITY OF PATERSON.

Program Service Accomplishments

Program 1
Expenses: $1,326,981 Revenue: $1,390,635

FUNDS TO SUPPORT EDUCATIONAL PROGRAMMING AT THE COMMUNITY CHARTER SCHOOL OF PATERSON TO BENEFIT 900 PATERSON STUDENTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,390,635
Investment Income $0
Other Revenue $127,772
TOTAL REVENUE $1,518,407

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,326,981
Other Expenses $1,326,981
TOTAL EXPENSES $1,326,981

Year-over-Year Comparison

2022 2021 Change
Revenue $1,518,407 $1,419,580 +0.1%
Expenses $1,326,981 $1,128,458 +0.2%
Net Income $191,426 $291,122 -0.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
Volunteers
3

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
4
$610,724
Total Directors
4
$610,724
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT GUARASCI CHAIR/PRESIDENT 1.00
Officer Director
$0 $11,741 $218,741
MICHAEL CASSIDY VICE PRESIDENT 1.00
Officer Director
$0 $238 $86,701
KATHIE MENDEZ SECRETARY/TREASURER 1.00
Officer Director
$0 $25,989 $175,812
MICHAEL DEBLASIO VICE PRESIDENT 1.00
Officer Director
$0 $0 $129,470
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 No data No data No data No data
2023 $1,518,407 $1,326,981 $7,631,487 $191,426
2022 $1,419,580 $1,128,458 $7,817,404 $291,122
2021 $976,140 $704,833 $7,957,026 $271,307
2020 $968,258 $688,988 $7,843,217 $279,270
2019 $960,453 $703,949 $7,969,995 $256,504
2018 $952,094 $685,392 $7,917,284 $266,702
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