Essex Properties Urban Renewal Associates Inc

About Essex Properties Urban Renewal Associates Inc

Essex Properties Urban Renewal Associates Inc (EIN: 223095974) is a nonprofit organization based in East Hanover, NJ, classified under NTEE code L200. The organization reported total revenue of $846K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Essex Properties Urban Renewal Associates Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Essex Properties Urban Renewal Associates Inc with a Mission Score of 35 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 98%
• programs: 0%
• fundraising: 2%

According to IRS 990 filings, Essex Properties Urban Renewal Associates Inc allocates its expenses as follows: admin: 98%, programs: 0%, fundraising: 2%.

Executive Compensation Analysis

Executive compensation is not explicitly detailed in the provided data, with 'c0%' consistently reported, making it impossible to assess specific compensation figures.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Essex Properties Urban Renewal Associates Inc's IRS 990 filings:

• Revenue has been declining from $796,007 in 2017 to $846,187 in 2023, while expenses have remained high, leading to net losses in several years.
• The spending breakdown indicates 0% on programs, 98% on administration, and 2% on fundraising, which is highly unusual for a nonprofit and suggests a lack of direct charitable activity.
• The organization consistently reports 'c0%' for compensation, which could indicate a lack of transparency regarding personnel costs or an unusual operational model.
• Total liabilities have increased significantly from $51,789 in 2017 to $98,785 in 2023, while assets have decreased from $1,669,411 to $1,342,535 over the same period.

Strengths

The following positive indicators were identified for Essex Properties Urban Renewal Associates Inc:

• The organization has maintained a consistent presence since at least 2016, indicating longevity.
• Despite declining revenue, the organization has managed to maintain a substantial asset base, with $1,342,535 in assets as of 2023.

Frequently Asked Questions about Essex Properties Urban Renewal Associates Inc

Filing History

IRS 990 filing history for Essex Properties Urban Renewal Associates Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Essex Properties Urban Renewal Associates Inc's revenue has grown by 30.2%, moving from $726K to $945K. Total assets decreased by 42.4% over the same period, from $2.4M to $1.4M. Total functional expenses rose by 18.6%, from $682K to $808K. In its most recent filing year (2023), Essex Properties Urban Renewal Associates Inc reported a surplus of $137K, with revenue exceeding expenses. The organization holds $99K in liabilities against $1.4M in assets (debt-to-asset ratio: 7.2%), resulting in net assets of $1.3M.

Year-by-Year Financial Summary

• 2023: Revenue of $945K, expenses of $808K, and assets of $1.4M (revenue +24.6% year-over-year).
• 2022: Revenue of $759K, expenses of $858K, and assets of $1.4M (revenue +4.6% year-over-year).
• 2021: Revenue of $725K, expenses of $848K, and assets of $1.4M (revenue -2.4% year-over-year).
• 2020: Revenue of $742K, expenses of $846K, and assets of $1.5M (revenue -0.4% year-over-year).
• 2019: Revenue of $745K, expenses of $889K, and assets of $1.6M (revenue -0.4% year-over-year).
• 2018: Revenue of $748K, expenses of $688K, and assets of $1.8M (revenue -6.0% year-over-year).
• 2017: Revenue of $796K, expenses of $1.7M, and assets of $1.7M (revenue +9.3% year-over-year).
• 2016: Revenue of $729K, expenses of $722K, and assets of $2.7M (revenue +1.2% year-over-year).
• 2015: Revenue of $720K, expenses of $687K, and assets of $2.5M (revenue -0.2% year-over-year).
• 2014: Revenue of $721K, expenses of $689K, and assets of $2.5M (revenue -0.5% year-over-year).
• 2013: Revenue of $725K, expenses of $657K, and assets of $2.5M (revenue -1.0% year-over-year).
• 2012: Revenue of $733K, expenses of $647K, and assets of $2.4M (revenue +0.9% year-over-year).
• 2011: Revenue of $726K, expenses of $682K, and assets of $2.4M.

Data Sources and Methodology

This transparency report for Essex Properties Urban Renewal Associates Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.