Elizabeth Avenue Partnership Inc

Nonprofit profile at a glance

EIN
223698211
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Elizabeth, NJ, USA
Phone
9089650660
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$282,889
Expenses
$324,738
Assets
$319,738
Liabilities
$17,710

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • David H Strochak (Executive Director)

Highest reported compensation

  • David H Strochak (Executive Director): $93,961 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Revitalize and enhance all aspects of the Elizabeth Avenue shopping district.

What it reported doing in 2024

Organization functions to supplement the Citys services such as security, cleaning of streets, and promotion to improve business in Elizabeth, New Jersey.

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 71
  • Accountability: 79
  • Sustainability: 25
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.5%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 78.6%; rating input score 79; 0th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.8%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.98; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 28.9%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $294K in reported program spending
  • Leadership: top reported pay $94K · 9 people listed
  • Consistency: 21 of 24 current checks pass · 3 findings to review
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D revenue reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.