Englewood Economic Development Corp
- Assets
- $220.1k
- Revenue
- $55.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Englewood, NJ
- Founding
- 12/1981
- Data as of
- 06/2017
- EIN
- 22-2358090
Organization Overview
Englewood Economic Development Corp is located in Englewood, NJ. The organization was established in 1981. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. Englewood Economic Development Corp is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2017, Englewood Economic Development Corp generated $55.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (58.6%) each year. All expenses for the organization totaled $522.8k during the year ending 06/2017. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE ENGLEWOOD ECONOMIC DEVELOPMENT CORPORATION, ("EEDC"), AN INDEPENDENT NOT-FOR-PROFIT CORPORATION, WAS INCORPORATED ON SEPTEMBER 21, 1978, FOR THE PURPOSE OF PROMOTING AND ASSISTING THE INDUSTRIAL, COMMERCIAL, AND ECONOMIC DEVELOPMENT OF THE CITY OF ENGLEWOOD (THE "CITY"), NEW JERSEY, WITH A FOCUS ON THE DOWNTOWN AREA OF THE CITY. AMONG ITS TASKS, EEDC IS THE DISTRICT MANAGEMENT CORPORATION FOR THE ENGLEWOOD SPECIAL IMPROVEMENT DISTRICT ("S.I.D."), WHICH WAS ESTABLISHED BY ORDINANCE OF THE ENGLEWOOD CITY COUNCIL ON MAY 20, 1985, TO PROMOTE THE ECONOMIC HEALTH OF THE DOWNTOWN AREA. ITS BUDGET IS RE-AUTHORIZED ANNUALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENGLEWOOD ECONOMIC DEVELOPMENT CORPORATION, ("EEDC"), AN INDEPENDENT NOT-FOR-PROFIT CORPORATION, WAS INCORPORATED ON SEPTEMBER 21, 1978, FOR THE PURPOSE OF PROMOTING AND ASSISTING THE INDUSTRIAL, COMMERCIAL, AND ECONOMIC DEVELOPMENT OF THE CITY OF ENGLEWOOD (THE "CITY"), NEW JERSEY, WITH A FOCUS ON THE DOWNTOWN AREA OF THE CITY. AMONG ITS TASKS, EEDC IS THE DISTRICT MANAGEMENT CORPORATION FOR THE ENGLEWOOD SPECIAL IMPROVEMENT DISTRICT ("S.I.D."), WHICH WAS ESTABLISHED BY ORDINANCE OF THE ENGLEWOOD CITY COUNCIL ON MAY 20, 1985, TO PROMOTE THE ECONOMIC HEALTH OF THE DOWNTOWN AREA. ITS BUDGET IS RE-AUTHORIZED ANNUALLY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Greco Treasurer | OfficerTrustee | 1 | $0 |
Phil Meisner Secretary | OfficerTrustee | 1 | $0 |
Michael Pietrowicz Vice Chairperson | OfficerTrustee | 1 | $0 |
Frank Huttle III Mayor | Trustee | 1 | $0 |
Carol Raucsher Chamber Of Commerce Rep. (ex Officio | Trustee | 1 | $0 |
Charles Cobb Council Representative | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,000 |
| Total Program Service Revenue | $0 |
| Investment income | $520 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,870 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,840 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $27,764 |
| Fees for services: Legal | $3,825 |
| Fees for services: Accounting | $15,382 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $23,360 |
| Office expenses | $121 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,360 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,541 |
| Insurance | $2,354 |
| All other expenses | $20,236 |
| Total functional expenses | $522,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,361 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,428 |
| Net Land, buildings, and equipment | $127,340 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $220,129 |
| Accounts payable and accrued expenses | $32,161 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $32,161 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $187,968 |