PATERSON DEVELOPMENT & MANAGEMENT CORPORATION (EIN 521976782) - 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

1996

Legal Domicile

Principal Officer

IRMA GORHAM

Phone

9736848248

Tax Period

2024-04-01 to 2025-03-31

PATERSON DEVELOPMENT & MANAGEMENT CORPORATION, founded in 1996, is a micro nonprofit in the Housing & Shelter sector that reported $80K in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $150K exceeded revenue, resulting in a 87% operating deficit.

Mission

THE ORGANIZATION IS ENGAGED IN THE DEVELOPMENT AND MANAGEMENT OF LOW INCOME HOUSING APARTMENT UNITS FOR QUALIFYING TENANTS IN PATERSON, NEW JERSEY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $80,078

Investment Income $0

Other Revenue $0

TOTAL REVENUE $80,078

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $110,495

Other Expenses $150,041

TOTAL EXPENSES $150,041

Year-over-Year Comparison

	2024	2023	Change
Revenue	$80,078	$93,407	-0.1%
Expenses	$150,041	$144,598	+0.0%
Net Income	$-69,963	$-51,191	+0.4%

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

Employees

N/A

Volunteers

N/A

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

$216,821

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EUGENIA BURTON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BRENDA BERKLEY	TRUSTEE	1.00	Director	$0	$0	$0
REV DR DOUGLAS MAVEN	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHAEL CAMPBELL	TRUSTEE	1.00	Director	$0	$0	$0
PETER RENDINA	TRUSTEE	1.00	Director	$0	$0	$0
IRMA GORHAM	SECRETARY	3.00	Officer	$0	$0	$216,821

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	$80,078	$150,041	$1,698,300	$-69,963
2024	$93,407	$144,598	$1,770,174	$-51,191
2023	$78,586	$151,042	$1,823,522	$-72,456
2023	$78,586	$151,042	$1,823,522	$-72,456
2022	$87,968	$101,478	$1,888,523	$-13,510
2021	$99,035	$118,646	$1,901,646	$-19,611
2020	$121,538	$116,659	$1,923,901	$4,879
2019	$96,837	$137,544	$1,915,002	$-40,707

PATERSON DEVELOPMENT & MANAGEMENT CORPORATION