75 SPRUCE STREET DEVELOPMENT INC (EIN 261150169) - 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

2007

Legal Domicile

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.

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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 (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

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

N/A

Employees

N/A

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

$610,724

Total Directors

$610,724

Key Employees

Highest Compensated

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

75 SPRUCE STREET DEVELOPMENT INC