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Nonprofit · EIN 22-2304615

JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION

Tax-exempt · JERSEY CITY, NJ 07305

Financials

$1.9M$2.3M2022$3.8M$4.1M2023
Revenue Expenses · by fiscal year end
Financials of JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2024990$3,794,753$4,088,672-$293,919$7,526,087$5,922,098$1,603,989
June 30, 2023990$1,875,777$2,301,668-$425,891$2,043,984$156,793$1,887,191
Financial details: 990 for the year ended June 30, 2024

Revenue

Contributions, gifts and grants
$3,711,992
of which government grants
$3,651,166
Program service revenue
$1,765
Investment income
$79,932
Net rental income
$444
Other revenue
$1,064

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$336,262
Salaries, compensation and benefits (total)
$495,300
Professional fundraising fees
$0
Legal fees
$16,500
Accounting fees
$30,000
Occupancy
$86,275
Travel
$429
Program services (functional)
$3,600,685
Management and general (functional)
$487,987

Balance sheet and other

Total assets, start of year
$2,043,984
Total assets, end of year
$7,526,087
Total liabilities, end of year
$5,922,098
Net assets, end of year
$1,603,989
Publicly traded securities
$420,392
Net assets without donor restrictions
$1,336,410
Net assets with donor restrictions
$267,579
Gross receipts
$3,794,753
Employees
4
Year formed
1980
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, 2024, highest compensation first.

NameTitleHours / weekCompensation
FLORENCE BARONDevelopment Dir
Officer
40$99,225
JENNIFER MOORE WATERMANDIR.OF BUSINESS
Officer
40$99,225
SHANNON MITCHELLSENIOR ASSOC.
Officer
40$77,175
MIRIAM TINEOFINANCIAL ADMIN
Officer
40$60,637
ROSEMARY MCFADDENChairwoman
Trustee or director
5$0
MAYOR STEVEN FULOPTrustee
Trustee or director
0$0
NICHOLAS CAVALUZZISecretary
Trustee or director
0$0
JEFF JUSTICE WILLIAMSTrustee
Trustee or director
0$0
BRENDAN SOMERVILLEVice-Chair.
Trustee or director
0$0
KIA DEADWYLERAsst.Secretary
Trustee or director
0$0
OSMAN GANITrustee
Trustee or director
0$0
SURAJ KAUFMANTreasurer
Trustee or director
0$0
PHILIP MCGOVERNTrustee
Trustee or director
0$0
RICHARD CAMPISANO ESQTrustee/Counsel
Trustee or director
0$0
990 for the year ended June 30, 2023: 14 people
NameTitleHours / weekCompensation
FLORENCE BARONDevelopment Dir
Officer
40$94,500
JENNIFER MOORE WATERMANDIR.OF BUSINESS
Officer
40$94,500
SHANNON MITCHELLSENIOR ASSOC.
Officer
40$73,500
MIRIAM TINEOFINANCIAL ADMIN
Officer
40$57,750
ROSEMARY MCFADDENChairwoman
Trustee or director
5$0
MAYOR STEVEN FULOPTrustee
Trustee or director
0$0
NICHOLAS CAVALUZZISecretary
Trustee or director
0$0
JEFF JUSTICE WILLIAMSTrustee
Trustee or director
0$0
BRENDAN SOMERVILLEVice-Chair.
Trustee or director
0$0
KIA DEADWYLERAsst.Secretary
Trustee or director
0$0
OSMAN GANITrustee
Trustee or director
0$0
SURAJ KAUFMANTreasurer
Trustee or director
0$0
PHILIP MCGOVERNTrustee
Trustee or director
0$0
RICHARD CAMPISANO ESQTrustee/Counsel
Trustee or director
0$0

Address and contacts

Address (IRS master file)
342 MARTIN LUTHER KING JR DRIVE, JERSEY CITY, NJ 07305-0000
Signed the 990
FLORENCE BARON, Development Dir
Phone
(201) 333-7797
Return prepared by
Donohue Gironda & Doria

Mission

TO PROMOTE, ENCOURAGE AND ASSIST IN THE INDUSTRIAL, COMMERCIAL AND ECONOMIC DEVELOPMENT OF THE CITY OF JERSEY CITY, THEREBY INCREASING THE COMMERCIAL/TRADE OF THE CITY CREATING GREATER EMPLOYMENT OPPORTUNITIES AND BROADENING THE TAX BASE.

990 for the year ended June 30, 2024

Program accomplishments

  • NEW JERSEY DIVISION OF TOURISIM-DEVELOPMENT OF MARKETING AND ADVERTISING SERVICES TO PROMOTE AND ENHANCE THE TOURISM BUSINESS IN THE CITY OF JERSEY CITY.
    Expenses $3,600,685 · revenue $2,385

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 yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025Not on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
22-2304615
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
1982
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$7,526,087
Income (IRS master file)
$3,794,753

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2024$3,794,753$4,088,672$7,526,087XML
990June 2023$1,875,777$2,301,668$2,043,984XML
990June 2022$2,488,701$2,480,555$2,457,867IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS
990June 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 22-2304615).

Questions about JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION

What is the EIN of JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION?
The employer identification number (EIN) of JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION is 22-2304615.
Is JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
Are donations to JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION 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 JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION 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 JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2024.
Who are the officers and directors of JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended June 30, 2024 lists 14 people; 4 received compensation from the organization, the highest $99,225 (FLORENCE BARON, Development Dir).
How much revenue does JERSEY CITY ECONOMIC DEVELOPMENT CORPORATION have?
On its 990 for the year ended June 30, 2024 it reported revenue of $3,794,753, expenses of $4,088,672 and total assets of $7,526,087 at year end.

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