Englewood Economic Development Corp

Nonprofit profile at a glance

EIN
222358090
IRS 990 coverage
2009–2016
Forms available
Form 990 2016
Location
Englewood, NJ, USA
Phone
2018716664
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$55,840
Expenses
$522,799
Assets
$220,129
Liabilities
$32,161

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

15 people listed

People named in this filing

  • STEPHANIE GRECO (TREASURER)
  • PHIL MEISNER (SECRETARY)
  • MICHAEL PIETROWICZ (VICE CHAIRPERSON)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The englewood economic development corporation, ("eedc"), an independent not-for-profit corporation, was incorporated on september 21, 1978, for the purpose of promoting and assisting the industrial, commercial, and economic development of the city of englewood (the "city"), New Jersey, with a focus on the downtown area of the city. Among its tasks, eedc is the district management corporation for the englewood special improvement district ("s.i.d."), which was established by ordinance of the englewood city council on may 20, 1985, to promote the economic health of the downtown area. Its budget is re-authorized annually.

Operating model

Revenue model
Grant-funded. 72% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: 85
  • Transparency & Controls: 83
  • Accountability: 82
  • Sustainability: 16
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.9%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -836.2%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 38.9% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -15.8% per year; rating input score 0; 30th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 48th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $459K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2009 to 2016
  • Contacts: How to reach this organization
  • 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: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.