Civic Intelligence

Passaic Enterprise Zone Development Corporation

990 • Fiscal year 2015 • EIN 22-3382424

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 25, 2015

Organization ProfileN/A
330 Passaic Ave Rm 207Passaic, NJ 07055

(973) 365-5520

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

63rd percentile

0.18x

Higher debt load relative to assets than 63% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

86th percentile

1.77x

Higher debt load relative to revenue than 86% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Net Margin

10th percentile

-25%

Higher net margin than 10% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

2015 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2015

Asset Growth

30th percentile

-2.2%

Faster asset growth than 30% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

5th percentile

-52%

Faster revenue growth than 5% of similar nonprofits.

2015 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$3,619,146

Down $82,934 (-2.2%) from 2014

Net Assets

Down

$2,964,868

Down $358,712 (-11%) from 2014

Liabilities

Up

$654,278

Up $275,778 (+73%) from 2014

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin10th percentile

Revenue

Down

$370,074

Down $402,721 (-52%) from 2014

Expenses

Down

$461,313

Down $295,524 (-39%) from 2014

Net Income

Down

-$91,239

Down $107,197 (-672%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2015

Assets$3,619,146
Liabilities$654,278
Net Assets$2,964,868
Open 2015 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income across loaded years, with this 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

2015

Revenue$370,074
Expenses$461,313
Net Income-$91,239
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 25, 2015
Return Version
2014v5.0
Gross Receipts
$370,074
Mission and Program Overview

Mission

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

To adminster the state's urban enterprise zone in the city of passaic

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,560,453$2,817,508▲ $257,055
Cash and Non-Interest-Bearing Accounts$417,545$387,541▼ $30,004
Other Notes and Loans Receivable, Net$346,963$300,521▼ $46,442
Accounts Receivable$377,119$87,600▼ $289,519
Total Assets$3,702,080$3,619,146▼ $82,934
Other Assets Total-$25,976-
Liabilities
Accounts Payable and Accrued Expenses$53,500$329,278▲ $275,778
Unsecured Notes Loans Payable$325,000$325,000→ $0
Total Liabilities$378,500$654,278▲ $275,778
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,019,130--
Unrestricted Net Assets$304,450$2,964,868▲ $2,660,418
Total Net Assets Fund Balance$3,323,580$2,964,868▼ $358,712
Total Liabilities and Net Assets / Fund Balance$3,702,080$3,619,146▼ $82,934
Compensation and Service Providers
Top Officer Pay57th percentile

Board Members and Trustees

NameTitle
Fernandez RicardoDirector
Blanco AlexTrustee
Evans Rosa ChiffonTrustee
Fernandez Jr ServandoTrustee
Guilianni AlexTrustee
Jacob VeniceTrustee
Kleeblatt MichaelTrustee
Lindholm Iii CliffTrustee
Mackowiak HenryTrustee
MadonnaTrustee
Mrs Leticia AcostaTrustee
Rana RajTrustee
Rioux ReneTrustee
Schaer GaryTrustee
Van Rensalier RonTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$348,503
Program Service Revenue
$7,980
Investment Income
$13,305
Other Revenue
$286
Change in Net Assets
$-91,239

Audited Revenue Reconciliation

Revenue per Audited Statements
$370,074
Total Revenue per Audited Statements
$370,074
Total Revenue per Form 990
$370,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$340,194
Salaries, Compensation, and Employee Benefits$83,639
Other Expenses$37,480
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$340,194--$340,194
Other Salaries and Wages-$76,616-$76,616
Fees for Services Accounting-$14,910-$14,910
Payroll Taxes-$7,023-$7,023
Office Expenses-$6,742-$6,742
Fees for Services Legal$4,937--$4,937
Insurance-$2,289-$2,289
Other Expenses$241$44-$44
Total Functional Expenses$353,689$107,624$0$461,313

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$461,313
Total Expenses per Audited Statements$461,313
Total Expenses per Form 990$461,313
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Downtown Merchants CorporationPassaic, NJ-Clean Sweep and Erad$340,194
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 15A

“No compensation has been paid to an officer or director.”

Form 990, Page 6, Part VI, Line 15B

“Employee compensation is determined and approved by the board. The board takes into concideration factors such as the current job market and availablity of talent, as well as experience and education.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Passaic Enterprise Zone
EIN
22-3382424
Phone
9733655520
Address
330 PASSAIC AVE RM 207, PASSAIC, NJ 07055

Signing Officer

Name
Ricardo Fernandez
Title
Director
Phone
9733655520
Signed
2015-10-25

Organization Details

Principal Officer
Ricardo Fernandez
Voting Board Members
14
Independent Board Members
0
Employees
1

Preparer

Firm
Albert Rodriguez CPA
Address
248 LORRAINE AVE 4TH FLOOR, MONTCLAIR, NJ 07043-1457
Preparer
Albert Rodriguez CPA
Phone
9737831040
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Aquisition of land parcel in underground canal.”

Raw XML Appendix364 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYRevenuesLessExpensesAmt015958
IRS990/PYSalariesCompEmpBnftPaidAmt083168
IRS990/PYTotalExpensesAmt0756837
IRS990/PYTotalRevenueAmt0772795
IRS990/ReconcilationRevenueExpnssAmt0-91239
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0340194
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02560453
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02817508
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0461313
IRS990ScheduleD/RevenueSubtotalAmt0370074
IRS990ScheduleD/TotalExpensesPerForm990Amt0461313
IRS990ScheduleD/TotalRevenuePerForm990Amt0370074
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0370074
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0461313
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0340194
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CLEAN SWEEP AND ERAD
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DOWNTOWN MERCHANTS CORPORATION
IRS990ScheduleI/RecipientTable/RecipientEIN0223464174
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0330 PASSAIC AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0PASSAIC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd007055
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AQUISITION OF LAND PARCEL IN UNDERGROUND CANAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO COMPENSATION HAS BEEN PAID TO AN OFFICER OR DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EMPLOYEE COMPENSATION IS DETERMINED AND APPROVED BY THE BOARD. THE BOARD TAKES INTO CONCIDERATION FACTORS SUCH AS THE CURRENT JOB MARKET AND AVAILABLITY OF TALENT, AS WELL AS EXPERIENCE AND EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt03019130
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03702080
IRS990/TotalAssetsEOYAmt03619146
IRS990/TotalAssetsGrp/BOYAmt03702080
IRS990/TotalAssetsGrp/EOYAmt03619146
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0348503
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0107624
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0353689
IRS990/TotalFunctionalExpensesGrp/TotalAmt0461313
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0378500
IRS990/TotalLiabilitiesEOYAmt0654278
IRS990/TotalLiabilitiesGrp/BOYAmt0378500
IRS990/TotalLiabilitiesGrp/EOYAmt0654278
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03323580
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02964868
IRS990/TotalOtherProgSrvcExpenseAmt04937
IRS990/TotalProgramServiceExpensesAmt0353689
IRS990/TotalProgramServiceRevenueAmt07980
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021571
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0370074
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03702080
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03619146
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0304450
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02964868
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0325000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0325000
IRS990/USAddress/AddressLine1Txt0330 PASSAIC AVE
IRS990/USAddress/CityNm0PASSAIC
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007055
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICARDO FERNANDEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09733655520
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PASSAIC ENTERPRISE ZONE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PASS
ReturnHeader/Filer/EIN0223382424
ReturnHeader/Filer/PhoneNum09733655520
ReturnHeader/Filer/USAddress/AddressLine1Txt0330 PASSAIC AVE RM 207
ReturnHeader/Filer/USAddress/CityNm0PASSAIC
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007055
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0222957836
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALBERT RODRIGUEZ CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0248 LORRAINE AVE 4TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MONTCLAIR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0070431457
ReturnHeader/PreparerPersonGrp/PhoneNum09737831040
ReturnHeader/PreparerPersonGrp/PreparationDt02015-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALBERT RODRIGUEZ CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-10-28T15:19:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,619,146
Liabilities
$654,278
Net assets
$2,964,868
Revenue
$370,074
Expenses
$461,313
Net income
-$91,239
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