FRIENDS OF PATERSON PARKS A NJ NON… - Form 990 Financial Data

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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

2019

Legal Domicile

Phone

9732346874

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF PATERSON PARKS A NJ NONPROFIT CORPORATION, founded in 2019, is a small nonprofit in the Recreation & Sports sector that reported $254K in total revenue in fiscal year 2023. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $552K exceeded revenue, resulting in a 117% operating deficit.

Mission

Friends of Paterson Parks is a non-profit organization based in Paterson New Jersey. Its mission is to protect enhance and advocate for the citys park system by pursuing grant opportunities soliciting corporate donations conducting annual fundraising campaigns and pursuing all available avenues of fundraising exclusively for the benefit of the city parks. The organization was founded in 2019 by dedicated volunteers passionate about preserving and improving Patersons parks. They recognized the importance of public green spaces for the health and well-being of the community and the vital role that parks play in creating a sense of place and identity for Patersons residents. One of the key ways that Friends of Paterson Parks supports the citys park system is by pursuing grant opportunities. The organization works with government agencies private foundations and other organizations to secure funding for park improvement projects such as the installation of new playground equip

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

ROBERTO CLEMENTE PLAYGROUND - THE FRIENDS OF PATERSON PARK HAS PLAYES A SIGNIFICANT ROLE IN THE DEVELOPMENT OF PATERSONS FIRST INCLUSIVE PLAYGROUND AT ROBERTO CLEMENTE PARK. WE SECURED FUNDING FOR...

ROBERTO CLEMENTE PLAYGROUND - THE FRIENDS OF PATERSON PARK HAS PLAYES A SIGNIFICANT ROLE IN THE DEVELOPMENT OF PATERSONS FIRST INCLUSIVE PLAYGROUND AT ROBERTO CLEMENTE PARK. WE SECURED FUNDING FOR THE NEW PLAYGROUND.

Program 2

Expenses: $0 Revenue: $0

CLINTON STREET PARK - THE ORGANIZATION COMMITTED TO PROVIDING PATERSON HABITAT FOR HUMANITY WITH FUNDING FOR THE PROJECT RECOGNIZING THE IMPORTANCE OF PUBLIC GREEN SPACES FOR THE HEALTH AND...

CLINTON STREET PARK - THE ORGANIZATION COMMITTED TO PROVIDING PATERSON HABITAT FOR HUMANITY WITH FUNDING FOR THE PROJECT RECOGNIZING THE IMPORTANCE OF PUBLIC GREEN SPACES FOR THE HEALTH AND WELL-BEING OF THE COMMUNITY.

Program 3

Expenses: $551,664 Revenue: $254,165

THE FRIENDS OF PATERSON PLAYED FPP A SIGNIFICANT ROLE IN TRANSFORMING LESTER TITUS FIELD INTO A SAFE AND ACCESSIBLE PLAY SPACE FOR THE COMMUNITY. THROUGH THE COLLABORATION WITH THE CITY OF PATERSON NJ - FPP SECURED THE SUPPORT OF MARILYN CLARK WHO GENEROUSLY DONATED $600,000 TO THE PROJECT

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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 (2023)

Revenue Breakdown

Contributions & Grants $254,215

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $254,215

Expense Breakdown

Grants Paid $549,334

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $551,664

Other Expenses $2,330

TOTAL EXPENSES $551,664

Year-over-Year Comparison

	2023	2022	Change
Revenue	$254,215	$684,500	-0.6%
Expenses	$551,664	$242,788	+1.3%
Net Income	$-297,449	$441,712	-1.7%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED ARDIS	PRESIDENT	10.00	Director	$0	$0	$0
MURAT BAYCORA	VP	10.00	Director	$0	$0	$0
DACIL TILOS	TREASURER	10.00	Director	$0	$0	$0
DEBORAH BRAVO	SECRETARY	10.00	Director	$0	$0	$0
KATHLEEN LONG	TRUSTEE	10.00	Director	$0	$0	$0
HUSEYIN RAMIREZ	TRUSTEE	10.00	Director	$0	$0	$0
HEPHTE RAMIREZ	TRUSTEE	10.00	Director	$0	$0	$0
BENNIE COOK	TRUSTEE	10.00	Director	$0	$0	$0
DIPTO ROY	TRUSTEE	10.00	Director	$0	$0	$0
JESMIN BEGUM	TRUSTEE	10.00	Director	$0	$0	$0
WILLIAM RODRIGUEZ	TRUSTEE	10.00	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
2024	$254,215	$551,664	$196,803	$-297,449
2023	$684,500	$242,788	$494,252	$441,712

FRIENDS OF PATERSON PARKS A NJ NONPROFIT CORPORATION