Nonprofit · EIN 81-3606443
GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · PATERSON, NJ 07509
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $438,635 | $0 | $438,635 | $5,503,339 | $5,053,772 | $449,567 |
| June 30, 2024 | 990 | $11,320 | $388 | $10,932 | $5,502,495 | $5,491,563 | $10,932 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $438,635
- of which government grants
- $438,635
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
Balance sheet and other
- Total assets, start of year
- $5,502,495
- Total assets, end of year
- $5,503,339
- Total liabilities, end of year
- $5,053,772
- Net assets, end of year
- $449,567
- Land, buildings and equipment
- $449,955
- Net assets without donor restrictions
- $449,567
- Gross receipts
- $438,635
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2016
- 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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ROBERT GUARASCI | PRESIDENT Trustee or director, Officer | 1 | $0 | $274,440 | $12,681 |
| KATHIE MENDEZ | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $171,801 | $29,074 |
| MICHAEL DEBLASIO | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $148,349 | $361 |
990 for the year ended June 30, 2024: 3 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ROBERT GUARASCI | CHAIR/PRESIDENT Trustee or director, Officer | 1 | $0 | $257,151 | $12,422 |
| KATHIE MENDEZ | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $165,241 | $28,424 |
| MICHAEL DEBLASIO | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $139,791 | $361 |
Address and contacts
- Address (IRS master file)
- PO BOX 6976, PATERSON, NJ 07509-6976
- In care of
- % ROBERT GUARASCI
- Mailing address (990-N for 2022)
- PO Box 6976, Paterson NJ 07509
- Principal officer (990 for 2024)
- ROBERT GUARASCI, PO BOX 6976, PATERSON, NJ 075096976
- Principal officer (990-N for 2022)
- Robert Guarasci, PO Box 6976, Paterson NJ 07509
- Signed the 990
- ROBERT GUARASCI, PRESIDENT
- Phone
- (973) 413-1600
- Return prepared by
- SAX ADVISORS LLC
Mission
THE PRIMARY MISSION OF GFEDC IS TO PROMOTE ARTS AND CULTURAL ENRICHMENT FOR RESIDENTS OF PATERSON AND THE STATE OF NEW JERSEY IN THE AREA SURROUNDING PATERSON'S GREAT FALLS NATIONAL PARK THROUGH A VARIETY OF APPROACHES, INCLUDING ARTISTIC, EDUCATIONAL AND YOUTH-RELATED ACTIVITIES AND PROGRAMMING.
Program accomplishments
- THE PRIMARY MISSION OF GFEDC IS TO PROMOTE ARTS AND CULTURAL ENRICHMENT FOR RESIDENTS OF PATERSON AND THE STATE OF NEW JERSEY IN THE AREA SURROUNDING PATERSON'S GREAT FALLS NATIONAL PARK THROUGH A VARIETY OF APPROACHES, INCLUDING ARTISTIC, EDUCATIONAL AND YOUTH-RELATED ACTIVITIES AND PROGRAMMING.
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
- 81-3606443
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2018
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $5,503,339
- Income (IRS master file)
- $438,635
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $438,635 | $0 | $5,503,339 | IRS |
| 990 | June 2024 | $11,320 | $388 | $5,502,495 | IRS |
| 990-N for 2022 Officer: Robert Guarasci | June 30, 2023 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2020 Officer: ROBERT GUARASCI | June 30, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2019 Officer: ROBERT GUARASCI | June 30, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2018 Officer: ROBERT GUARASCI | June 30, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
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 81-3606443).
Questions about GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION is 81-3606443.
- Is GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GREAT FALLS 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 GREAT FALLS 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 GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION 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 GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names ROBERT GUARASCI.
- Who are the officers and directors of GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 3 people; 0 received compensation from the organization.
- How much revenue does GREAT FALLS ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $438,635, expenses of $0 and total assets of $5,503,339 at year end.
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