Nonprofit · EIN 22-2164287
ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY
Tax-exempt · ELIZABETH, NJ 07206
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $3,779,862 | $3,090,900 | $688,962 | $23,092,614 | $4,744,108 | $18,348,506 |
| June 30, 2024 | 990 | $1,192,954 | $2,841,759 | -$1,648,805 | $20,778,316 | $5,140,484 | $15,637,832 |
| June 30, 2023 | 990 | $2,107,811 | $2,316,697 | -$208,886 | $20,201,600 | $5,193,864 | $15,007,736 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,061,661
- of which government grants
- $2,771,834
- Program service revenue
- $579,185
- Investment income
- $119,868
- Other revenue
- $19,148
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $1,001,222
- Salaries, compensation and benefits (total)
- $1,308,026
- Professional fundraising fees
- $0
- Legal fees
- $11,762
- Accounting fees
- $54,952
- Occupancy
- $75,687
- Depreciation
- $20,023
- Program services (functional)
- $2,812,719
- Management and general (functional)
- $278,181
Balance sheet and other
- Total assets, start of year
- $20,778,316
- Total assets, end of year
- $23,092,614
- Total liabilities, end of year
- $4,744,108
- Net assets, end of year
- $18,348,506
- Net assets without donor restrictions
- $3,866,655
- Net assets with donor restrictions
- $14,481,851
- Gross receipts
- $3,779,862
- Employees
- 13
- Volunteers
- 23
- Year formed
- 1977
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| William O'Dea | Executive Director Key employee, Highest-paid employee | 35 | $176,400 |
| Brenda McRae | Deputy Exec Dir Finance and Admin Key employee | 35 | $144,500 |
| Edgar Lopes | Director of Revenue and WFD Key employee | 35 | $125,000 |
| Daniel Devanney | Dir UEZ & Financial Programs Key employee | 35 | $102,500 |
| Marty Borruso | Chairman Trustee or director, Officer | 2 | $0 |
| Kate Kerpchar | Vice Chair Trustee or director, Officer | 2 | $0 |
| Amy Crisp Wagner | Secretary Trustee or director, Officer | 2 | $0 |
| Angel Cabrera | Treasurer Trustee or director, Officer | 2 | $0 |
| Gregory Waga | Immediate Past President Trustee or director | 2 | $0 |
| Bridget Anderson | Member Trustee or director | 2 | $0 |
| Mary Arias | Member Trustee or director | 2 | $0 |
| Matt Beyerstedt | Member Trustee or director | 2 | $0 |
| Laura Ciraco | Member Trustee or director | 2 | $0 |
| Jennifer Costa | Member Trustee or director | 2 | $0 |
| Amy Gellert Lebovitz | Member Trustee or director | 2 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dave Gibbons | Member Trustee or director | 2 | $0 |
| Ana Liranzo | Member Trustee or director | 2 | $0 |
| Dr Margaret McMenamin | Member Trustee or director | 2 | $0 |
| Marcy Metz | Member Trustee or director | 2 | $0 |
| Julio Sabater | Member Trustee or director | 2 | $0 |
| Theresa Pereira | Member Trustee or director | 2 | $0 |
| C Thomas Petit | Member Trustee or director | 2 | $0 |
990 for the year ended June 30, 2024: 22 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| William O'Dea | Executive Director Key employee, Highest-paid employee | 35 | $167,774 |
| Brenda McRae | Deputy Exec. Director of Finance and Admin Key employee | 35 | $130,327 |
| Edgar Lopez | Director of Neighborhood Revitalization Key employee | 35 | $111,115 |
| Daniel Devanney | Dir UEZ & Financial Programs Key employee | 35 | $102,164 |
| Marty Borruso | Chairperson Trustee or director, Officer | 2 | $0 |
| Kate Kerpchar | Vice Chairperson Trustee or director, Officer | 2 | $0 |
| Angel Cabrera | Treasurer Trustee or director, Officer | 2 | $0 |
| Amy Crisp Wagner | Secretary Trustee or director, Officer | 2 | $0 |
| Gregory Waga | Immediate Past President Trustee or director, Officer | 2 | $0 |
| Bridget Anderson | Member Trustee or director | 2 | $0 |
| Mary Arias | Member Trustee or director | 2 | $0 |
| Matt Beyerstedt | Member Trustee or director | 2 | $0 |
| Laura Ciraco | Member Trustee or director | 2 | $0 |
| Jennifer Costa | Member Trustee or director | 2 | $0 |
| Amy Gellert Lebovitz | Member Trustee or director | 2 | $0 |
| Dave Gibbons | Member Trustee or director | 2 | $0 |
| Ana Liranzo | Member Trustee or director | 2 | $0 |
| Dr Margaret McMenamin | Member Trustee or director | 2 | $0 |
| Marcy Metz | Member Trustee or director | 2 | $0 |
| Julio Sabater | Member Trustee or director | 2 | $0 |
| Theresa Pereira | Member Trustee or director | 2 | $0 |
| C Thomas Petit | Member Trustee or director | 2 | $0 |
990 for the year ended June 30, 2023: 20 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| William O'Dea | Executive Director Key employee, Highest-paid employee | 35 | $142,533 |
| Brenda McRae | Deputy Exec Dir Finance and Admin Key employee | 35 | $120,909 |
| Edgar Lopez | Dir of Neighborhood Revitalization Key employee | 35 | $102,192 |
| Daniel Devanney | Dir UEZ & Financial Programs Key employee | 35 | $93,563 |
| Gregory Waga | Chairman Trustee or director, Officer | 2 | $0 |
| Marty Borruso | Vice Chairperson Trustee or director, Officer | 2 | $0 |
| Julio Sabater | Treasurer Trustee or director, Officer | 2 | $0 |
| Angel Cabrera | Secretary Trustee or director, Officer | 2 | $0 |
| Marcy Metz | Immediate Past President Trustee or director | 2 | $0 |
| Bridget Anderson | Member Trustee or director | 2 | $0 |
| Mary Arias | Member Trustee or director | 2 | $0 |
| Matt Beyerstedt | Member Trustee or director | 2 | $0 |
| Laura Ciraco | Member Trustee or director | 2 | $0 |
| Jennifer Costa | Member Trustee or director | 2 | $0 |
| David Gibbons | Member Trustee or director | 2 | $0 |
| Kate Kerpchar | Member Trustee or director | 2 | $0 |
| Ana Liranzo | Member Trustee or director | 2 | $0 |
| Dr Margaret McMenamin | Member Trustee or director | 2 | $0 |
| Theresa Pereira | Member Trustee or director | 2 | $0 |
| Amy Wagner | Member Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 205 1ST ST, ELIZABETH, NJ 07206-1801
- Principal officer (990 for 2024)
- William O'Dea, 205 First Street, Elizabeth, NJ 07207
- Signed the 990
- William O'Dea, Executive Director
- Phone
- (908) 289-0262
- Website
- www.edcnj.org
- Return prepared by
- Suplee Clooney and Company
Mission
Job creation, attracting & retaining businesses and other economic development activities by providing grants and below-market rate loan programs through Urban Enterprise
Program accomplishments
- Job creation, attracting and retaining businesses and other economic development activities by providing grants and below-market rate loan programs to businesses utilizing the City of Elizabeths Urban Enterprise Zone and CDBG funds.Expenses $2,812,719
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2164287
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1987
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S300)
- Assets (IRS master file)
- $23,092,614
- Income (IRS master file)
- $3,779,862
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $3,779,862 | $3,090,900 | $23,092,614 | XML |
| 990 | June 2024 | $1,192,954 | $2,841,759 | $20,778,316 | IRS |
| 990 | June 2023 | $2,107,811 | $2,316,697 | $20,201,600 | XML |
| 990 | June 2022 | $2,720,829 | $3,660,919 | $20,192,510 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-2164287).
Questions about ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY
- What is the EIN of ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY?
- The employer identification number (EIN) of ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY is 22-2164287.
- Is ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY?
- The 990 for the year ended June 30, 2025 names William O'Dea.
- Who are the officers and directors of ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY?
- The 990 for the year ended June 30, 2025 lists 22 people; 4 received compensation from the organization, the highest $176,400 (William O'Dea, Executive Director).
- How much revenue does ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $3,779,862, expenses of $3,090,900 and total assets of $23,092,614 at year end.
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