Liabilities / Assets
54th percentile
Higher debt load relative to assets than 54% of similar nonprofits.
EIN 20-4647454 • 501(c)3 • Palisades Park, NJ
Profile
The specific purpose of this corporation shall be to foster economic development, create or preserve job and education opportunities, train, stimulate growth, expansion and modernization of small businesses.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
54th percentile
Higher debt load relative to assets than 54% of similar nonprofits.
Liabilities / Revenue
74th percentile
Higher debt load relative to revenue than 74% of similar nonprofits.
Net Margin
10th percentile
Higher net margin than 10% of similar nonprofits.
Top Officer Pay
48th percentile
Higher top officer pay than 48% of similar nonprofits.
Top officer pay equals 24.3% of source-year revenue.
Asset Growth
7th percentile
Faster asset growth than 7% of similar nonprofits.
Revenue Growth
3rd percentile
Faster revenue growth than 3% of similar nonprofits.
Assets
Down$1,145,222
Down $423,453 (-27%) from 2023
Liabilities
Down$232,022
Down $80,279 (-26%) from 2023
Net Assets
Down$913,200
Down $343,174 (-27%) from 2023
Revenue
Down$406,656
Down $856,049 (-68%) from 2023
Expenses
Down$559,837
Down $268,059 (-32%) from 2023
Net Income
Down-$153,181
Down $587,990 (-135%) from 2023
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
The specific purpose of this corporation shall be to foster economic development, create or preserve job and education opportunities, train, stimulate growth, expansion and modernizatin of small businesses.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Accounts Receivable | $708,496 | $663,691 | ▼ $44,805 |
| Cash and Non-Interest-Bearing Accounts | $815,904 | $423,785 | ▼ $392,119 |
| Loans From Officers Directors | $259,781 | $184,620 | ▼ $75,161 |
| Land, Buildings, and Equipment, Net | $40,498 | $33,506 | ▼ $6,992 |
| Total Assets | $1,568,675 | $1,145,222 | ▼ $423,453 |
| Other Assets Total | $3,777 | $24,240 | ▲ $20,463 |
| Liabilities | |||
| Deferred Revenue | $30,160 | - | - |
| Other Liabilities | - | $21,221 | - |
| Unsecured Notes Loans Payable | $13,864 | $15,200 | ▲ $1,336 |
| Accounts Payable and Accrued Expenses | $8,496 | $10,981 | ▲ $2,485 |
| Total Liabilities | $312,301 | $232,022 | ▼ $80,279 |
| Net Assets / Fund Balance | |||
| Net Assets With Donor Restrictions | $1,088,142 | - | - |
| Net Assets Without Donor Restrictions | $168,232 | $913,200 | ▲ $744,968 |
| Total Net Assets Fund Balance | $1,256,374 | $913,200 | ▼ $343,174 |
| Total Liabilities and Net Assets / Fund Balance | $1,568,675 | $1,145,222 | ▼ $423,453 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $30,439 | $23,277 | $53,716 |
| Other Land Buildings | $2,836 | $47,849 | $50,685 |
| Equipment | $231 | $3,953 | $4,184 |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Kwon H Jung | President | FT | $98,670 | $98,670 |
| Name | Title |
|---|---|
| Charles Park | Director |
| Ken Gilho Choi | Director |
| Soo Jin Jung | Director |
| Alexander Kangseok Choi | Director/sec |
| Line Item | Amount |
|---|---|
| Other Expenses | $384,044 |
| Salaries, Compensation, and Employee Benefits | $175,793 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Office Expenses | $101,963 | $13,115 | - | $115,078 |
| Current Officers, Directors, Trustees, and Key Employees | $78,936 | $19,734 | - | $98,670 |
| Other Salaries and Wages | $41,813 | $10,453 | - | $52,266 |
| Occupancy | $39,354 | $9,839 | - | $49,193 |
| Fees for Services Other | $36,262 | - | - | $36,262 |
| Advertising | $27,946 | - | - | $27,946 |
| Other Employee Benefits | $19,886 | $4,971 | - | $24,857 |
| Other Expenses | $19,344 | $4,616 | - | $19,344 |
| Travel | $9,564 | - | - | $9,564 |
| All Other Expenses | $7,496 | $1,874 | - | $9,370 |
| Fees for Services Accounting | $9,250 | - | - | $9,250 |
| Insurance | $6,510 | $1,627 | - | $8,137 |
| Fees for Services Legal | $7,240 | - | - | $7,240 |
| Depreciation Depletion | $5,594 | $1,398 | - | $6,992 |
| Total Functional Expenses | $485,223 | $74,614 | $0 | $559,837 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $559,837 |
| Total Expenses per Audited Statements | $559,837 |
| Total Expenses per Form 990 | $559,837 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $259,781 | $184,620 | ▼ $75,161 |
| Liability | Amount |
|---|---|
| Operating Lease Liability | $21,221 |
“The corporation has 25 members.”
“Total 25 members are responsible for recommending the board of directors of the corporation. The members have no voting power. Board of directors have voting power.”
“Instead of the members, the board of directors must meet at least quarterly and shall be responsible for cdc staff decisions and actions. A quorum shall require at least 5 directors authorized to vote and majority of presented directors have to agree. The board meetings require a quorum to transact business. A quorum must be present for the duration of the meeting. Sba allows interim vacancies on the board of directors to be filled by a majority of the remaining board of directors. Any person filling an interim vacancy must stand for election at the next annual or special meeting of the boards, whichever comes first. If a new board position is created, it must be filled by a vote of the directors at the next annual or special meeting of the directors. When the board votes on sba loan approval or servicing actions, at least two board directors with commercial loan experience acceptable to sba, other than the cdc manager, must be present and vote. There must be no actual or apparent conflict of interest with respect to any actions of the board. The cdc board of directors may delegate management functions to an executive committee. The executive committee must meet the same requirements as the board of directors but may be appointed by the board of directors.”
“Drafts of form 990 are distributed to the board of directors members to get approval for filing.”
“It is in our bylaws and reports to sba every year.”
“UPON REQUEST.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
| IRS990/AccountantCompileOrReviewInd | 0 | false |
| IRS990/AccountsPayableAccrExpnssGrp/BOYAmt | 0 | 8496 |
| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 10981 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 708496 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 663691 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | THE SPECIFIC PURPOSE OF THIS CORPORATION SHALL BE TO FOSTER ECONOMIC DEVELOPMENT, CREATE OR PRESERVE JOB AND EDUCATION OPPORTUNITIES, TRAIN, STIMULATE GROWTH, EXPANSION AND MODERNIZATIN OF SMALL BUSINESSES. |
| IRS990/AdvertisingGrp/ProgramServicesAmt | 0 | 27946 |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 27946 |
| IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt | 0 | 1874 |
| IRS990/AllOtherExpensesGrp/ProgramServicesAmt | 0 | 7496 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 9370 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | true |
| IRS990/BooksInCareOfDetail/PersonNm | 0 | KWON H JUNG |
| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 2015850136 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 47B W RUBY AVENUE |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | PALISADES PARK |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | NJ |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 07650 |
| IRS990/BusinessRlnWith35CtrlEntInd | 0 | false |
| IRS990/BusinessRlnWithFamMemInd | 0 | false |
| IRS990/BusinessRlnWithOrgMemInd | 0 | false |
| IRS990/CashNonInterestBearingGrp/BOYAmt | 0 | 815904 |
| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 423785 |
| IRS990/ChangeToOrgDocumentsInd | 0 | false |
| IRS990/CollectionsOfArtInd | 0 | false |
| IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt | 0 | 19734 |
| IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt | 0 | 78936 |
| IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt | 0 | 98670 |
| IRS990/CompensationFromOtherSrcsInd | 0 | false |
| IRS990/CompensationProcessCEOInd | 0 | false |
| IRS990/CompensationProcessOtherInd | 0 | false |
| IRS990/ConflictOfInterestPolicyInd | 0 | true |
| IRS990/ConservationEasementsInd | 0 | false |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | false |
| IRS990/CreditCounselingInd | 0 | false |
| IRS990/CYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/CYContributionsGrantsAmt | 0 | 0 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/CYInvestmentIncomeAmt | 0 | 15625 |
| IRS990/CYOtherExpensesAmt | 0 | 384044 |
| IRS990/CYOtherRevenueAmt | 0 | 8304 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 382727 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | -153181 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 175793 |
| IRS990/CYTotalExpensesAmt | 0 | 559837 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 0 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 406656 |
| IRS990/DecisionsSubjectToApprovaInd | 0 | true |
| IRS990/DeductibleArtContributionInd | 0 | false |
| IRS990/DeductibleNonCashContriInd | 0 | false |
| IRS990/DeferredRevenueGrp/BOYAmt | 0 | 30160 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
| IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt | 0 | 1398 |
| IRS990/DepreciationDepletionGrp/ProgramServicesAmt | 0 | 5594 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 6992 |
| IRS990/Desc | 0 | 7A AND OTHER INCOME |
| IRS990/DescribedInSection501c3Ind | 0 | true |
| IRS990/DisregardedEntityInd | 0 | false |
| IRS990/DocumentRetentionPolicyInd | 0 | true |
| IRS990/DoingBusinessAsName/BusinessNameLine1Txt | 0 | EASTERN AMERICAN CDC |
| IRS990/DonorAdvisedFundInd | 0 | true |
| IRS990/DonorRestrictionNetAssetsGrp/BOYAmt | 0 | 1088142 |
| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | false |
| IRS990/ElectionOfBoardMembersInd | 0 | true |
| IRS990/EmployeeCnt | 0 | 3 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | true |
| IRS990/EngagedInExcessBenefitTransInd | 0 | false |
| IRS990/ExpenseAmt | 0 | 485223 |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt | 0 | 9250 |
| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 9250 |
| IRS990/FeesForServicesLegalGrp/ProgramServicesAmt | 0 | 7240 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 7240 |
| IRS990/FeesForServicesOtherGrp/ProgramServicesAmt | 0 | 36262 |
| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 36262 |
| IRS990/ForeignActivitiesInd | 0 | false |
| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignOfficeInd | 0 | false |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 40.00 |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 4 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 0 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 0 | KWON H JUNG |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | ALEXANDER KANGSEOK CHOI |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | KEN GILHO CHOI |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | CHARLES PARK |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | SOO JIN JUNG |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 98670 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | DIRECTOR/SEC |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | DIRECTOR |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | false |
| IRS990/FormationYr | 0 | 2005 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedInd | 0 | false |
| IRS990/FundraisingActivitiesInd | 0 | false |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 7 |
| IRS990/GrantsToIndividualsInd | 0 | false |
| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 406656 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IndependentAuditFinclStmtInd | 0 | true |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 1627 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 6510 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 8137 |
| IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt | 0 | 15625 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 15625 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/IRPDocumentCnt | 0 | 1 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 75079 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 40498 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 33506 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 108585 |
| IRS990/LegalDomicileStateCd | 0 | NJ |
| IRS990/LoanOutstandingInd | 0 | true |
| IRS990/LoansFromOfficersDirectorsGrp/BOYAmt | 0 | 259781 |
| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 184620 |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | true |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | THE SPECIFIC PURPOSE OF THIS CORPORATION SHALL BE TO FOSTER ECONOMIC DEVELOPMENT, CREATE OR PRESERVE JOB AND EDUCATION OPPORTUNITIES, TRAIN, STIMULATE GROWTH, EXPANSION AND MODERNIZATIN OF SMALL BUSINESSES. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 1256374 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 913200 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 168232 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 913200 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 9839 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 39354 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 49193 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 13115 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 101963 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 115078 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 3777 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 24240 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 4971 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 19886 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 24857 |
| IRS990/OtherExpensesGrp/Desc | 0 | AUTOMOBILE EXPENSES |
| IRS990/OtherExpensesGrp/Desc | 1 | PROVISION FOR CREDIT LOSS |
| IRS990/OtherExpensesGrp/Desc | 2 | MISCELLANEOUS EXPENSE |
| IRS990/OtherExpensesGrp/Desc | 3 | OTHER 504 RELATED |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 6987 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 4616 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 27947 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 27654 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 18464 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 19344 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 34934 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 27654 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 23080 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 19344 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 21221 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER INCOME |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 8304 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 8304 |
| IRS990/OtherRevenueTotalAmt | 0 | 8304 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 10453 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 41813 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 52266 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrincipalOfficerNm | 0 | KWON H JUNG |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | -189993 |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 522291 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 522291 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | 504 RELATED PROCESS FEES |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | ML INCOME |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 320040 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 62687 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 320040 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 62687 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 420475 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYInvestmentIncomeAmt | 0 | 29069 |
| IRS990/PYOtherExpensesAmt | 0 | 788233 |
| IRS990/PYOtherRevenueAmt | 0 | 8562 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 312790 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -167109 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 149772 |
| IRS990/PYTotalExpensesAmt | 0 | 938005 |
| IRS990/PYTotalRevenueAmt | 0 | 770896 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -153181 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 420475 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 1500000 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 553997 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 578630 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 3053102 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 2001623 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 1.00000 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 1.00000 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 3053102 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 420475 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 1500000 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 553997 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 578630 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 3053102 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 3053102 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/DisclosedForCharitablePrpsInd | 0 | false |
| IRS990ScheduleD/DisclosedOrgLegCtrlInd | 0 | false |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 231 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 3953 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 4184 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 559837 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 30439 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 23277 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 53716 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 2836 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 47849 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 50685 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 21221 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | OPERATING LEASE LIABILITY |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 406656 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 33506 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 559837 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 21221 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 406656 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 406656 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 559837 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 0 | 184620 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 0 | true |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 0 | false |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 0 | INTERNAL ARRANGEMENT |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd | 0 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 0 | 192026 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 0 | KWON H JUNG |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 0 | OFFICER |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 0 | true |
| IRS990ScheduleL/TotalBalanceDueAmt | 0 | 184620 |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE CORPORATION HAS 25 MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | TOTAL 25 MEMBERS ARE RESPONSIBLE FOR RECOMMENDING THE BOARD OF DIRECTORS OF THE CORPORATION. THE MEMBERS HAVE NO VOTING POWER. BOARD OF DIRECTORS HAVE VOTING POWER. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | INSTEAD OF THE MEMBERS, THE BOARD OF DIRECTORS MUST MEET AT LEAST QUARTERLY AND SHALL BE RESPONSIBLE FOR CDC STAFF DECISIONS AND ACTIONS. A QUORUM SHALL REQUIRE AT LEAST 5 DIRECTORS AUTHORIZED TO VOTE AND MAJORITY OF PRESENTED DIRECTORS HAVE TO AGREE. THE BOARD MEETINGS REQUIRE A QUORUM TO TRANSACT BUSINESS. A QUORUM MUST BE PRESENT FOR THE DURATION OF THE MEETING. SBA ALLOWS INTERIM VACANCIES ON THE BOARD OF DIRECTORS TO BE FILLED BY A MAJORITY OF THE REMAINING BOARD OF DIRECTORS. ANY PERSON FILLING AN INTERIM VACANCY MUST STAND FOR ELECTION AT THE NEXT ANNUAL OR SPECIAL MEETING OF THE BOARDS, WHICHEVER COMES FIRST. IF A NEW BOARD POSITION IS CREATED, IT MUST BE FILLED BY A VOTE OF THE DIRECTORS AT THE NEXT ANNUAL OR SPECIAL MEETING OF THE DIRECTORS. WHEN THE BOARD VOTES ON SBA LOAN APPROVAL OR SERVICING ACTIONS, AT LEAST TWO BOARD DIRECTORS WITH COMMERCIAL LOAN EXPERIENCE ACCEPTABLE TO SBA, OTHER THAN THE CDC MANAGER, MUST BE PRESENT AND VOTE. THERE MUST BE NO ACTUAL OR APPARENT CONFLICT OF INTEREST WITH RESPECT TO ANY ACTIONS OF THE BOARD. THE CDC BOARD OF DIRECTORS MAY DELEGATE MANAGEMENT FUNCTIONS TO AN EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE MUST MEET THE SAME REQUIREMENTS AS THE BOARD OF DIRECTORS BUT MAY BE APPOINTED BY THE BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | DRAFTS OF FORM 990 ARE DISTRIBUTED TO THE BOARD OF DIRECTORS MEMBERS TO GET APPROVAL FOR FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | IT IS IN OUR BYLAWS AND REPORTS TO SBA EVERY YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PAGE 6, PART VI, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | NJ |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 1568675 |
| IRS990/TotalAssetsEOYAmt | 0 | 1145222 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 1568675 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 1145222 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalEmployeeCnt | 0 | 3 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 74614 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 485223 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 559837 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 312301 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 232022 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 312301 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 232022 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 1256374 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 913200 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 485223 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 382727 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 98670 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 406656 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 406656 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 1568675 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 1145222 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 9564 |
| IRS990/TravelGrp/TotalAmt | 0 | 9564 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt | 0 | 13864 |
| IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt | 0 | 15200 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 47B W RUBY AVENUE |
| IRS990/USAddress/CityNm | 0 | PALISADES PARK |
| IRS990/USAddress/StateAbbreviationCd | 0 | NJ |
| IRS990/USAddress/ZIPCd | 0 | 07650 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 7 |
| IRS990/VotingMembersIndependentCnt | 0 | 7 |
| IRS990/WebsiteAddressTxt | 0 | WWW.EA504.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | false |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | KWON H JUNG |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 2015414101 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-07-11 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | EASTERN AMERICAN ECONOMIC |
| ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt | 0 | DEVELOPMENT CORPORATION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | EAST |
| ReturnHeader/Filer/EIN | 0 | 204647454 |
| ReturnHeader/Filer/PhoneNum | 0 | 2015850136 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 438 BROAD AVE |
| ReturnHeader/Filer/USAddress/CityNm | 0 | PALISADES PARK |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | NJ |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 07650 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | false |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 451343806 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | KL CPA & ASSOCIATES LLC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 222 BRIDGE PLAZA S STE 720 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | FORT LEE |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | NJ |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 07024 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 2127689144 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2025-07-14 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | KENNETH K LEE CPA |
| ReturnHeader/ReturnTs | 0 | 2025-07-14T17:56:21-04:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-12-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
No mirrored PDF or thumbnail assets are attached yet.