Downtown Merchants Corporation
- Assets
- $66.9k
- Revenue
- $292.9k
- Investments
- $0.0
- Employees
- 15
- Location
- Passaic, NJ
- Founding
- 09/1999
- Data as of
- 12/2021
- EIN
- 22-3464174
Organization Overview
Downtown Merchants Corporation is located in Passaic, NJ. The organization was established in 1999. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Downtown Merchants Corporation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Merchants Corporation 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 12/2021, Downtown Merchants Corporation generated $292.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $297.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. 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
BEAUTIFICATION AND ENHANCEMENT OF AREA ALONG RT 21 THROUGH THE THE DOWNTOWN BY PARTICIPATING IN PROGRAM WHICH REMOVE LITTER, POWER WASH GRAFFITI AND PAINT OVER 185 BUILDINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LITTER REMOVAL TO IMPROVE THE QUALITY OF LIFE TO RESIDENTS AND SHOPPERS
GRAFFITI REMOVAL AND PAINTING OF BUILDINGS AND BUSINESSES TO IMPROVE THE QUALITY OF LIFE FOR RESIDENTS AND SHOPPERS AS WELL AS DISCOURAGE GANG ACTIVITY.
TO PROVIDE SUMMER JOBS IN THE CITY FOR THE YOUTH OF PASSAIC
ALL OTHER EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rafeal Cuellar Vice Chair | OfficerTrustee | 0 | $0 |
Servando Fernandez Chair | OfficerTrustee | 0 | $0 |
Rosa Ortiz Board Member | Trustee | 0 | $0 |
Alex Canals Board Member | Trustee | 0 | $0 |
Helen Ramos Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $284,948 |
| Investment income | $0 |
| 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 | $292,896 |
| 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 | $246,189 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,337 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,857 |
| Advertising and promotion | $0 |
| Office expenses | $1,485 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $927 |
| Insurance | $14,373 |
| All other expenses | $12,836 |
| Total functional expenses | $297,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,568 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,680 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,729 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,950 |
| Total assets | $66,927 |
| Accounts payable and accrued expenses | $7,125 |
| 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 | $25,914 |
| Total liabilities | $33,039 |
| Net assets without donor restrictions | $33,888 |
| Net assets with donor restrictions | $0 |
| 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 | $66,927 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Downtown Merchants Corporation has recieved totaling $255,070.
| Awarding Organization | Amount |
|---|---|
Passaic Enterprise Zone Development Corporation Passaic, NJ PURPOSE: To eradicate graffiti and garbage | $255,070 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nysa-Ila Container Royalty Fund Jersey City, NJ | $55,480,172 | $104,394,382 |
Unsatisfied Claims & Judgement Fund Basking Ridge, NJ | $69,007,782 | $67,404,449 |
Gs1 Us Inc Ewing, NJ | $478,037,755 | $93,863,501 |
International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |
Workers Compensation Security Fund Basking Ridge, NJ | $229,766,675 | $28,644,741 |