Passaic Enterprise Zone Development Corporation

Organization Overview

Passaic Enterprise Zone Development Corporation is located in Passaic, NJ. The organization was established in 1996. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Passaic Enterprise Zone Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2022, Passaic Enterprise Zone Development Corporation generated $49.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (23.2%) each year. All expenses for the organization totaled $593.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO ADMINISTER THE STATES URBAN ENTERPRISE ZONE IN THE CITY OF PASSAIC

Describe the Organization's Program Activity:

Part 3 - Line 4a

THROUGH PROJECT CLEAN SWEEP AND GRAFFITI REMOVAL, THE PEZDC IS FUNDINGEXTRA TRASH COLLECTION, ERADICATION OF GRAFFITI IN PUBLIC SPACES AND THEGENERAL BEAUTIFICATION OF THE GREAT CITY OF PASSAIC.


TO OVERSEE AND RUN THE PROGRAMS


NNP PROGRAM THAT PROVIDES SUPPORT THROUGH ADVERTISING, SIGNAGE AND EVENTS SPONSERING OF THE CITYS BUSINESS DISTRICT


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Board, Officers & Key Employees

Name (title)Compensation
Sagar Metha
Trustee
$0
Kenneth Simpson
Trustee
$0
Cliff Lindholm III
Trustee
$0
Ron Van Rensalier
Trustee
$0
Gary Schaer
Trustee
$0
Rene Rioux
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $20,087
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$20,087
Total Program Service Revenue$26,787
Investment income $2,652
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
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 $49,526

Grants Awarded

Over the last fiscal year, Passaic Enterprise Zone Development Corporation has awarded $997,393 in support to 2 organizations.

Grant RecipientAmount

DOWNTOWN MERCHANTS CORPORATION

PURPOSE: To eradicate graffiti and garbage

$255,070

SMALL BUSINESS ASSISTANT GRANTS

|

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$742,323
View Grant Profile

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