Civic Intelligence

Passaic Enterprise Zone Development Corporation

EIN 22-3382424 • 501(c)4 • Passaic, NJ

Profile

To administer the states urban enterprise zone in the city of passaic

330 Passaic Ave Room 203Passaic, NJ 07055

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

62nd percentile

0.11x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

69th percentile

0.25x

Higher debt load relative to revenue than 69% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Net Margin

70th percentile

23%

Higher net margin than 70% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

63rd percentile

$0

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)4 • $1M-$5M nonprofits • Source year 2024

Asset Growth

77th percentile

17%

Faster asset growth than 77% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

37%

Faster revenue growth than 77% of similar nonprofits.

501(c)4 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$1,476,502

Up $212,415 (+17%) from 2023

Liabilities

Up

$169,135

Up $54,524 (+48%) from 2023

Net Assets

Up

$1,307,367

Up $157,891 (+14%) from 2023

Operations
Liabilities / Revenue69th percentileNet Margin70th percentile

Revenue

Up

$674,160

Up $182,088 (+37%) from 2023

Expenses

Up

$516,273

Up $150,337 (+41%) from 2023

Net Income

Up

$157,887

Up $31,751 (+25%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth77th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $5,880,868Liabilities 2010: $450,047Net Assets 2010: $5,430,8212010Assets 2011: $6,226,935Liabilities 2011: $140,399Net Assets 2011: $6,086,5362011Assets 2012: $3,409,519Liabilities 2012: $91,044Net Assets 2012: $3,318,4752012Assets 2013: $3,353,084Liabilities 2013: $41,886Net Assets 2013: $3,311,1982013Assets 2014: $3,702,080Liabilities 2014: $378,500Net Assets 2014: $3,323,5802014Assets 2015: $3,619,146Liabilities 2015: $654,278Net Assets 2015: $2,964,8682015Assets 2016: $4,016,303Liabilities 2016: $44,513Net Assets 2016: $3,971,7902016Assets 2017: $3,535,406Liabilities 2017: $49,587Net Assets 2017: $3,485,8192017Assets 2018: $3,086,583Liabilities 2018: $69,189Net Assets 2018: $3,017,3942018Assets 2019: $2,586,447Liabilities 2019: $40,205Net Assets 2019: $2,546,2422019Assets 2020: $2,214,433Liabilities 2020: $125,715Net Assets 2020: $2,088,7182020Assets 2021: $1,676,696Liabilities 2021: $91,662Net Assets 2021: $1,585,0342021Assets 2022: $1,070,438Liabilities 2022: $29,211Net Assets 2022: $1,041,2272022Assets 2023: $1,264,087Liabilities 2023: $114,611Net Assets 2023: $1,149,4762023Assets 2024: $1,476,502Liabilities 2024: $169,135Net Assets 2024: $1,307,3672024

Highlighted filing

2024

Assets$1,476,502
Liabilities$169,135
Net Assets$1,307,367
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2010: $1,975,708Expenses 2010: $985,925Net Income 2010: $989,7832010Expenses 2011: $801,2582011Revenue 2012: $576,015Expenses 2012: $561,940Net Income 2012: $14,0752012Expenses 2013: $405,2242013Revenue 2014: $772,795Expenses 2014: $756,837Net Income 2014: $15,9582014Revenue 2015: $370,074Expenses 2015: $461,313Net Income 2015: -$91,2392015Revenue 2016: $762,464Expenses 2016: $491,142Net Income 2016: $271,3222016Revenue 2017: $66,965Expenses 2017: $552,935Net Income 2017: -$485,9702017Revenue 2018: $60,411Expenses 2018: $525,831Net Income 2018: -$465,4202018Revenue 2019: $62,057Expenses 2019: $534,791Net Income 2019: -$472,7342019Revenue 2020: $36,968Expenses 2020: $494,492Net Income 2020: -$457,5242020Revenue 2021: $794,799Expenses 2021: $1,290,784Net Income 2021: -$495,9852021Revenue 2022: $49,526Expenses 2022: $593,333Net Income 2022: -$543,8072022Revenue 2023: $492,072Expenses 2023: $365,936Net Income 2023: $126,1362023Revenue 2024: $674,160Expenses 2024: $516,273Net Income 2024: $157,8872024

Highlighted filing

2024

Revenue$674,160
Expenses$516,273
Net Income$157,887
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,476,502
Liabilities
$169,135
Net assets
$1,307,367
Revenue
$674,160
Expenses
$516,273
Net income
$157,887
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$0.17$1.31$0.67$0.52$0.16
2023Detailed filing. Detailed filing data is available for this year.$1.26$0.11$1.15$0.49$0.37$0.13
2022Detailed filing. Detailed filing data is available for this year.$1.07$0.03$1.04$0.05$0.59$0.54
2021Detailed filing. Detailed filing data is available for this year.$1.68$0.09$1.59$0.79$1.29$0.50
2020Detailed filing. Detailed filing data is available for this year.$2.21$0.13$2.09$0.04$0.49$0.46
2019Detailed filing. Detailed filing data is available for this year.$2.59$0.04$2.55$0.06$0.53$0.47
2018Detailed filing. Detailed filing data is available for this year.$3.09$0.07$3.02$0.06$0.53$0.47
2017Detailed filing. Detailed filing data is available for this year.$3.54$0.05$3.49$0.07$0.55$0.49
2016Detailed filing. Detailed filing data is available for this year.$4.02$0.04$3.97$0.76$0.49$0.27
2015Detailed filing. Detailed filing data is available for this year.$3.62$0.65$2.96$0.37$0.46$0.09
2014Detailed filing. Detailed filing data is available for this year.$3.70$0.38$3.32$0.77$0.76$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.35$0.04$3.31$0.41
2012Summary only. Only limited summary data is available for this year.$3.41$0.09$3.32$0.58$0.56$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.23$0.14$6.09$0.80
2010Summary only. Only limited summary data is available for this year.$5.88$0.45$5.43$1.98$0.99$0.99
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$674,160
Mission and Program Overview

Mission

To administer the states urban enterprise zone in the city of passaic

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$815,272$812,568▼ $2,704
Cash and Non-Interest-Bearing Accounts$244,284$321,002▲ $76,718
Accounts Receivable$204,531$107,771▼ $96,760
Land, Buildings, and Equipment, Net-$100,917-
Total Assets$1,264,087$1,476,502▲ $212,415
Other Assets Total-$134,244-
Liabilities
Other Liabilities$34,562$71,198▲ $36,636
Accounts Payable and Accrued Expenses$40,945$58,833▲ $17,888
Deferred Revenue$39,104$39,104→ $0
Total Liabilities$114,611$169,135▲ $54,524
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,149,476$1,307,367▲ $157,891
Total Net Assets Fund Balance$1,149,476$1,307,367▲ $157,891
Total Liabilities and Net Assets / Fund Balance$1,264,087$1,476,502▲ $212,415

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$100,917--
Other Assets Org$1--
Compensation and Service Providers
Top Officer Pay63rd percentile

Board Members and Trustees

NameTitle
Rene RiouxPresident
Ricardo FernandezDirector
Abril BarralesTrustee
Angel J CastilloTrustee
Gary SchaerTrustee
Hector LoraTrustee
Joyce Gregory-huntTrustee
Kenneth SimpsonTrustee
Leslie E ZunigaTrustee
MS MadonaTrustee
Servando Fernandez JrTrustee
Omar GarciaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$381,415
Program Service Revenue
$24,900
Investment Income
$9,148
Other Revenue
$258,697
Change in Net Assets
$157,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$341,628
Salaries, Compensation, and Employee Benefits$174,645
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$158,441--$158,441
Other Salaries and Wages$118,717--$118,717
Current Officers, Directors, Trustees, and Key Employees$26,616$26,616-$53,232
Other Expenses$21,596$5,158-$21,596
Fees for Services Accounting-$17,024-$17,024
Office Expenses$12,816--$12,816
Payroll Taxes$2,696--$2,696
Total Functional Expenses$467,475$48,798$0$516,273
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Downtown Merchants CorporationPassaic, NJ-To eradicate graffiti and garbage-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Inter G$71,198
Due to City on Payroll Share-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Review at meeting”

Conflict of interest policy compliance Part VI line 12C

“Conflict of interest Policy compliance”

Governing documents etc available to public Part VI line 19

“Open to public inspection.”

Filing and Contact Details

Filer

Filer Name
Passaic Enterprise Zone Development Corporation
EIN
22-3382424
In Care Of
% OMAR GARCIA
Phone
9733655520
Address
330 Passaic Ave Room 203, Passaic, NJ 07055

Signing Officer

Name
Omar Garcia
Title
Treasurer
Phone
9733655520
Signed
2025-11-13
Discuss with paid preparer
No

Organization Details

Principal Officer
Ricardo Fernandez
Formed
1994
Legal Domicile
Nj
Voting Board Members
12
Independent Board Members
12
Employees
1

Preparer

Firm
Albert Rodriguez CPA
Address
248 Lorraine Ave 4th Floor, Montclair, NJ 07043
Preparer
Albert Rodriguez CPA
Phone
9737831040
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Professional Consultants 63,222.00 Archetural fees 23,310.00 OTher 1,737.00 Consultant 3,518.00 Marketing Program Consul 66,654.00”

List of other expenses Part IX line 24E

“As listed on 24a-24c”

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IRS990/OtherExpensesGrp/Desc2City Improvements and Beauti
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IRS990/OtherExpensesGrp/ProgramServicesAmt121596
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IRS990/OtherExpensesGrp/TotalAmt15158
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IRS990/ProgSrvcAccomActy2Grp/Desc0Various programs and projects intended to improve the quality of life for the citizens of Passaic.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0294482
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt125000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Inter Gov Transfers
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0To eradicate graffiti and garbage
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Downtown Merchants Corporation
IRS990ScheduleI/RecipientTable/RecipientEIN0223464174
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0330 Passaic Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Passaic
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Review at meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of interest Policy compliance
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Open to public inspection.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Professional Consultants 63,222.00 Archetural fees 23,310.00 OTher 1,737.00 Consultant 3,518.00 Marketing Program Consul 66,654.00
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4As listed on 24a-24c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other expenses Part IX line 24e
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0674160
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IRS990/USAddress/ZIPCd007055
IRS990/VotingMembersGoverningBodyCnt012
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PhoneNum09733655520
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Passaic Enterprise Zone Development Corporation
ReturnHeader/Filer/BusinessNameControlTxt0PASS
ReturnHeader/Filer/EIN0223382424
ReturnHeader/Filer/InCareOfNm0% OMAR GARCIA
ReturnHeader/Filer/PhoneNum09733655520
ReturnHeader/Filer/USAddress/AddressLine1Txt0330 Passaic Ave Room 203
ReturnHeader/Filer/USAddress/CityNm0Passaic
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true

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