ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY

ELIZABETH, NJ | Union County
Economic Development

Overview

ELIZABETH DEVELOPMENT COMPANY OF NEW JERSEY
22-2164287
205 1ST ST
ELIZABETH, NJ 07206
Union County

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Economic Development
Nonprofit location info
  • LMI Census Tract
  • Majority Minority Census Tract
Awards & Certifications info
  • This nonprofit has not received any CRA awards or certifications.
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
S30

S - Community Improvement, Capacity Building

Economic Development

Organizations whose primary purpose is to stimulate the economy, expand employment opportunities, encourage the establishment and growth of commerce and industry and otherwise enhance the economic development of the community.

IRS Activity Codes info
429
Other inner city or community benefit activities
400
Area development, redevelopment of renewal
-
Not reported
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$2.7M
Revenue
$2.7M
Assets
$20.2M

IRS Business Master File Details info

As of Oct 2023
Exempt Ruling Date info
1987-02
Deductibility Status info
Deductible
Last Tax Filing info
2022
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

IRS Publication 78 Details info

As of Nov 2023
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through August 2023
Tax period ending in
2022-06
Tax period ending in
2021-06
Tax period ending in
2020-06
Tax period ending in
2019-06
Tax period ending in
2018-06
Tax period ending in
2017-06
Tax period ending in
2016-06

Nonprofit Location

Physical Address info
205 1ST ST
ELIZABETH, NJ 07206
Union County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
35084
MSA/MD info
34
State info
039
County info
0304.00
Tract info
Low
Income Level info
Core-Based Statistical Area info
35620 - New York-Newark-Jersey City, NY-NJ-PA
Combined Statistical Area info
408 - New York-Newark, NY-NJ-CT-PA
Metropolitan Division info
35084 - Newark, NJ-PA
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 95.24%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
0304.00 Union County
Population
Total Population 6,854 571,963
Total Households 1,700 198,506
Income
Median Family Income (Census*) $40,786 $87,369
Median Family Income (2022 FFIEC est.) $116,900 $116,900
Tract Income Percentage 37.99% N/A
Below Poverty Level 23.3% 8.6%
Unemployment Level 7.5% 6.3%
Housing
Total Housing Units 1,854 208,961
Total Owner-Occupied Units 20.0% 58.2%
Total Renter-Occupied Units 71.7% 41.8%
Total Vacant Units 8.3% 4.4%
* Census tract income based on 2020 Census estimated data; County income based on 2021 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

17
Total Voting Members
in Governing Body
info
17
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
William O'Dea
(908) 289-0262
Principal Officer info
William O'Dea
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2022-06.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.