Hudson County Economic Development Corp
Nonprofit profile at a glance
- EIN
- 223307613
- IRS 990 coverage
- 2012–2025
- Forms available
- Form 990 2025
- Location
- Jersey City, NJ, USA
- Phone
- 2013694370
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community Coalitions
Reported finances
- Revenue
- $783,964
- Expenses
- $770,766
- Assets
- $1,775,773
- Liabilities
- $44,798
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- KEVIN O'CONNOR (President)
- ALAN LAMBIASE (Vice President)
People named in this filing
- KEVIN O'CONNOR (President)
- KENNETH O'NEILL (ASST. TREASURER)
- RICHARD DWYER (Treasurer)
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 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The hudson county economic development corporation (hcedc) is a not-for-profit corporation whose mission is to serve hudson county's diverse communities by providing comprehensive financial access, information, professional training and affordable housing. The hcedc's vision is to build a healthy local economy through collaborative partnerships for business organizations and individuals.
What it reported doing in 2025
Education (training) program - under the education program the hcedc provides a wide range of training programs that are offered to help local business owners and their employees sharpen skills.
Operating model
- Revenue model
- Grant-funded. 80% 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
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 63
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 52
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 71%; rating input score 71
- Program expense ratio: 72.2%; rating input score 72
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 7 of 7 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: 1.7%; rating input score 36; 36th percentile among comparable filings
- Total-asset coverage ratio: 2.3; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 51; 51st percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings
Growth
- Program expense growth: 5.7% per year; rating input score 100; 40th percentile among comparable filings
- Revenue growth: 6.6% per year; rating input score 100; 46th percentile among comparable filings
- Asset growth: 1.3% per year; rating input score 100; 20th percentile among comparable filings
Details
- Where the money goes: 71% of revenue deployed · 72.2% of spending went to programs
- Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $557K in reported program spending
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 14 filing years from 2012 to 2025
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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.
- Moderate — Sustainability: Operating margin scored 36/100.
- Review — Sustainability: Liabilities to assets ratio scored 51/100.