New Jersey Community Development Corporation Inc
- Assets
- $38.0m
- Revenue
- $12.3m
- Investments
- $8.5m
- Employees
- 189
- Location
- Paterson, NJ
- Founding
- 11/1998
- Data as of
- 06/2021
- EIN
- 22-3282526
Organization Overview
New Jersey Community Development Corporation Inc is located in Paterson, NJ. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, New Jersey Community Development Corporation Inc employed 189 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey Community Development Corporation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, New Jersey Community Development Corporation Inc generated $12.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $9.4m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NJCDC IS A NON-PROFIT COMMUNITY DEVELOPMENT AND SOCIAL SERVICE AGENCY INCORPORATED IN THE STATE OF NEW JERSEY TO PROVIDE SERVICES IN THE AREAS OF EDUCATION, COMMUNITY DEVELOPMENT, YOUTH DEVELOPMENT, AND AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTIVE HOUSING NJCDC BUILDS AND OPERATES RESIDENTIAL PROGRAMS FOR ADULTS WITH DEVELOPMENTAL DISABILITIES, HOMELESS YOUTH, YOUTH AGING-OUT OF FOSTER CARE, AND PEOPLE WHO ARE HOMELESS WITH A MENTAL ILLNESS. IN PROVIDING SUPPORTIVE HOUSING, OUR GOAL IS TO OFFER HIGH-QUALITY HOUSING. AT THE SAME TIME WE OFFER A RANGE OF SERVICES DESIGNED TO HELP OUR RESIDENTS OVERCOME OBSTACLES AND LIVE RICH AND FULFILLING LIVES IN THE COMMUNITY.
YOUTH DEVELOPMENT PROGRAMSNJCDC OPERATES A NUMBER OF YOUTH DEVELOPMENT PROGRAMS DESIGNED TO PROVIDE YOUNG PEOPLE WITH A VARIETY OF SERVICES TO OVERCOME OBSTACLES AND REACH THEIR FULL POTENTIAL. THIS INCLUDES FOUR SCHOOL-BASED TEEN CENTERS, INITIATIVES TO TURN SCHOOLS INTO NEIGHBORHOOD CENTERS, AND AN AMERICORPS INITIATIVE THAT RECRUITS INDIVIDUALS TO COMMIT A YEAR OF SERVICE TO INNER-CITY STUDENTS.
EDUCATIONAL SERVICES NJCDC PROVIDES EDUCATIONAL SERVICES TO MORE THAN ONE THOUSAND YOUNG PEOPLE EACH DAY THROUGH THE OPERATION OF A PRESCHOOL, BY FOUNDING AND SUPPORTING THE COMMUNITY CHARTER SCHOOL OF PATERSON, BY PARTNERING WITH THE PATERSON SCHOOL DISTRICT TO OPERATE THE GARRETT MORGAN ACADEMY HIGH SCHOOL, BY OPERATING INITIATIVES TO PROMOTE COLLEGE READINESS, AND ENGAGING IN PARTNERSHIPS TO TEACH VOCATIONAL SKILLS. IN PROVIDING EDUCATIONAL SERVICES, OUR OBJECTIVE IS TO PROMOTE STUDENT ACHIEVEMENT AT THE SAME TIME WE OFFER SERVICES TO PROMOTE INDIVIDUAL AND FAMILY WELL-BEING.
COMMUNITY DEVELOPMENTNJCDC SEEKS TO IMPROVE THE QUALITY OF LIFE FOR PATERSON RESIDENTS LIVING IN AND AROUND THE GREAT FALLS HISTORIC DISTRICT AND SPRUCE STREET CORRIDOR. OUR GOAL IS TO REVITALIZE THE GREATER SPRUCE STREET NEIGHBORHOOD TO IMPROVE THE SOCIAL, ECONOMIC AND PHYSICAL ELEMENTS OFTHE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Guarasci President & CEO | Officer | 60 | $246,856 |
Kathie Mendez CFO | Officer | 50 | $135,797 |
David Berninger Treasurer | Trustee | 1 | $0 |
Lori Grifa Secretary | Trustee | 1 | $0 |
Robert Daleo Trustee | Trustee | 1 | $0 |
Carline Morrison Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marini Brothers Construction Construction | 6/29/20 | $105,021 |
Kiani Contracting Construction | 6/29/20 | $113,260 |
Marini Brothers Construction Construction | 6/29/20 | $105,021 |
Kiani Contracting Construction | 6/29/20 | $113,260 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $188,347 |
| Related organizations | $0 |
| Government grants | $5,539,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,461,408 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,189,455 |
| Total Program Service Revenue | $3,073,050 |
| Investment income | $110,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$18,519 |
| Net Income from Fundraising Events | -$16,376 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,337,768 |
| 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. | $420,080 |
| Compensation of current officers, directors, key employees. | $155,667 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,350,401 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $804,232 |
| Payroll taxes | $388,123 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,802 |
| Office expenses | $212,404 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $170,078 |
| Travel | $9,448 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,958 |
| Interest | $128,927 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $735,601 |
| Insurance | $277,850 |
| All other expenses | $69,932 |
| Total functional expenses | $9,391,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,599 |
| Savings and temporary cash investments | $2,841,230 |
| Pledges and grants receivable | $760,336 |
| Accounts receivable, net | $448,760 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,665,009 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $163,359 |
| Net Land, buildings, and equipment | $18,019,977 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,457,075 |
| Investments—program-related | $3,096,186 |
| Intangible assets | $0 |
| Other assets | $510,817 |
| Total assets | $38,005,348 |
| Accounts payable and accrued expenses | $760,622 |
| Grants payable | $305,677 |
| Deferred revenue | $2,733,599 |
| 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 | $9,375,836 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $70,171 |
| Total liabilities | $13,245,905 |
| Net assets without donor restrictions | $22,341,203 |
| Net assets with donor restrictions | $2,418,240 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $38,005,348 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that New Jersey Community Development Corporation Inc has recieved totaling $286,651.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $54,436 |
Columbia Bank Foundation Fair Lawn, NJ PURPOSE: BRIDGE TO SUCCESS PROGRAM | $50,000 |
Sandra Shahinian Leitner Charitable Trust New York, NY PURPOSE: GENERAL SUPPORT | $30,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $25,000 |
At&t Foundation Dallas, TX PURPOSE: EDUCATION | $20,000 |
Endowment Analysis
| Beg. Balance | $31,468 |
| Earnings | $7,937 |
| Ending Balance | $39,405 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Pennreach Allentown, NJ | $5,187,786 | $15,924,501 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |
Delaware Opportunities Inc Hamden, NY | $6,012,612 | $14,102,184 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Painters District Council No 4 S U B Fund Cheektowaga, NY | $33,742,384 | $15,066,465 |
Economic Opportunity Commission Of Nassau County Inc Hempstead, NY | $10,306,992 | $13,197,438 |