Bloomfield Center Alliance Inc
- Assets
- $156.2k
- Revenue
- $391.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Bloomfield, NJ
- Founding
- 05/2002
- Data as of
- 12/2023
- EIN
- 22-3618180
Organization Overview
Bloomfield Center Alliance Inc is located in Bloomfield, NJ. The organization was established in 2002. 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. As of 12/2023, Bloomfield Center Alliance Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomfield Center Alliance 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 12/2023, Bloomfield Center Alliance Inc generated $391.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $414.1k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE REDEVELOPMENT OF THE BLOOMFIELD TOWN CENTER
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRICT MARKETING, PROMOTIONAL EVENTS AND ECONOMIC DEVELOPMENT
DISTRICT PHYSICAL AMD CAPITAL IMPROVEMENTS
DISTRICT OPERATIONS INCLUDING DOWNTOWN CLEAN TEAM ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ollyn J Lettman Exec. Director | Officer | 40 | $97,371 |
Michael Kahn President | OfficerTrustee | 5 | $0 |
Ed Michalski Vice President | OfficerTrustee | 5 | $0 |
Alfonso Crincoli Treasurer | OfficerTrustee | 5 | $0 |
Stella Kelly Secretary | OfficerTrustee | 5 | $0 |
Sara Cruz Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,755 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,968 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,723 |
| Total Program Service Revenue | $364,192 |
| Investment income | $46 |
| 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 | $390,961 |
| 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. | $97,371 |
| Compensation of current officers, directors, key employees. | $97,371 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,497 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,632 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,736 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,969 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,600 |
| 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 | $0 |
| Insurance | $5,973 |
| All other expenses | $0 |
| Total functional expenses | $414,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,538 |
| Savings and temporary cash investments | $46,325 |
| 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 | $1,033 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,300 |
| Total assets | $156,196 |
| Accounts payable and accrued expenses | $4,008 |
| 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 | $106,667 |
| Other liabilities | $0 |
| Total liabilities | $110,675 |
| Net assets without donor restrictions | -$804 |
| Net assets with donor restrictions | $46,325 |
| 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 | $156,196 |