Greater Paterson Chamber Of Commerce
Greater Paterson Chamber Of Commerce: Declining Revenue, High Liabilities, and Questionable Program Spending
EIN: 221187770 · Paterson, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $248K |
| Total Expenses | $131K |
| Program Spending | 72% |
| Net Assets | $-5,091 |
| Transparency Score | 35/100 |
Is Greater Paterson Chamber Of Commerce Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Greater Paterson Chamber Of Commerce directs 72% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Greater Paterson Chamber Of Commerce
Greater Paterson Chamber Of Commerce (EIN: 221187770) is a nonprofit organization based in Paterson, NJ. The organization reported total revenue of $248K and total assets of $56K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Paterson Chamber Of Commerce's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Greater Paterson Chamber Of Commerce is a small nonprofit that has been operating for 85 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $182K |
| Total Expenses | $131K |
| Surplus / Deficit | +$51K |
| Total Assets | $56K |
| Total Liabilities | $61K |
| Net Assets | $-5,091 |
| Operating Margin | 28.1% |
| Debt-to-Asset Ratio | 109.1% |
| Months of Reserves | 5.1 months |
Financial Health Grade: A
In 2023, Greater Paterson Chamber Of Commerce reported a surplus of $51K with revenue exceeding expenses, holds 5.1 months of operating reserves (adequate), has a debt-to-asset ratio of 109.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Greater Paterson Chamber Of Commerce's revenue has declined at a compound annual growth rate (CAGR) of -0.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -46.5% | -23.0% | +43.9% |
| 2022 | +216.2% | +57.2% | +63.4% |
| 2021 | +0.5% | +8.1% | -14.0% |
| 2020 | -40.3% | -39.9% | -12.7% |
| 2019 | +1.0% | -10.3% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1941 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Greater Paterson Chamber Of Commerce 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: 18%
- programs: 72%
- fundraising: 10%
According to IRS 990 filings, Greater Paterson Chamber Of Commerce allocates its expenses as follows: admin: 18%, programs: 72%, fundraising: 10%. Approximately 72% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $51K, with revenue exceeding expenses.
- Debt-to-asset ratio: 109.1%.
Executive Compensation Analysis
Executive compensation is not disclosed in the provided data, preventing a comprehensive assessment.
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 Greater Paterson Chamber Of Commerce's IRS 990 filings:
- Consistent net deficit: Liabilities ($61,006 in 2023) exceed assets ($55,915 in 2023), indicating financial instability.
- Significant revenue decline: Revenue dropped by nearly 50% from $340,107 in 2022 to $182,072 in 2023.
- Lack of detailed program reporting: The provided data does not offer specifics on program activities or their effectiveness.
- High administrative and fundraising costs relative to declining revenue.
Strengths
The following positive indicators were identified for Greater Paterson Chamber Of Commerce:
- Long-standing presence in the community (implied by historical filings).
Frequently Asked Questions about Greater Paterson Chamber Of Commerce
Is Greater Paterson Chamber Of Commerce a legitimate charity?
Greater Paterson Chamber Of Commerce (EIN: 221187770) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 35/100. It has 13 years of IRS 990 filings on record. Total revenue: $248K. 4 red flags identified. 1 strength noted. Financial health grade: A.
How does Greater Paterson Chamber Of Commerce spend its money?
Greater Paterson Chamber Of Commerce directs 72% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Greater Paterson Chamber Of Commerce tax-deductible?
Greater Paterson Chamber Of Commerce is registered as a tax-exempt nonprofit (EIN: 221187770). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Greater Paterson Chamber Of Commerce's spending goes to programs?
Greater Paterson Chamber Of Commerce directs 72% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Greater Paterson Chamber Of Commerce located?
Greater Paterson Chamber Of Commerce is headquartered in Paterson, New Jersey and files with the IRS under EIN 221187770.
How many years of IRS 990 filings does Greater Paterson Chamber Of Commerce have?
Greater Paterson Chamber Of Commerce has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $248K in total revenue.
What does Greater Paterson Chamber Of Commerce do?
Greater Paterson Chamber Of Commerce is a nonprofit organization in the Unknown sector, located in Paterson, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Greater Paterson Chamber Of Commerce have?
Greater Paterson Chamber Of Commerce reported total revenue of $248,489. Based on 13 IRS 990 filings on record.
What are Greater Paterson Chamber Of Commerce's total assets?
Greater Paterson Chamber Of Commerce holds total assets of $55,915 as reported in IRS 990 filings.
Where is Greater Paterson Chamber Of Commerce located?
Greater Paterson Chamber Of Commerce is based in Paterson, New Jersey.
What is Greater Paterson Chamber Of Commerce's EIN?
Greater Paterson Chamber Of Commerce's Employer Identification Number (EIN) is 221187770. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Greater Paterson Chamber Of Commerce?
Greater Paterson Chamber Of Commerce is classified under NTEE code Unknown (Unknown).
Is Greater Paterson Chamber Of Commerce a registered 501(c)(3)?
Greater Paterson Chamber Of Commerce appears in IRS records (EIN: 221187770). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Greater Paterson Chamber Of Commerce file IRS Form 990?
Yes, Greater Paterson Chamber Of Commerce has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Greater Paterson Chamber Of Commerce's revenue in 2023?
In the 202312 filing period, Greater Paterson Chamber Of Commerce reported total revenue of $182,072, total expenses of $130,842, and net assets of $55,915.
Is Greater Paterson Chamber Of Commerce's revenue growing or declining?
Greater Paterson Chamber Of Commerce's revenue is declining. Revenue went from $340,107 (202212) to $182,072 (202312), a -46.5% change. Based on 13 filings on record.
What is Greater Paterson Chamber Of Commerce's most recent 990 filing?
The most recent IRS Form 990 filing for Greater Paterson Chamber Of Commerce covers tax period 202312. It shows revenue of $182,072, expenses of $130,842, total assets of $55,915, and liabilities of $61,006.
How much does Greater Paterson Chamber Of Commerce spend on programs vs administration?
Based on IRS 990 analysis, Greater Paterson Chamber Of Commerce allocates approximately 72% of expenses to program services, 18% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Greater Paterson Chamber Of Commerce a trustworthy charity?
Based on AI analysis of IRS 990 data, Greater Paterson Chamber Of Commerce has notable concerns. Mission Score: 35/100 (Poor). 4 red flags identified. 1 strength noted.
What are the red flags for Greater Paterson Chamber Of Commerce?
The following concerns were identified: Consistent net deficit: Liabilities ($61,006 in 2023) exceed assets ($55,915 in 2023), indicating financial instability.. Significant revenue decline: Revenue dropped by nearly 50% from $340,107 in 2022 to $182,072 in 2023.. Lack of detailed program reporting: The provided data does not offer specifics on program activities or their effectiveness.. High administrative and fundraising costs relative to declining revenue.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Greater Paterson Chamber Of Commerce's strengths?
Positive indicators for Greater Paterson Chamber Of Commerce include: Long-standing presence in the community (implied by historical filings).. These findings are derived from AI analysis of the organization's financial filings.
How does Greater Paterson Chamber Of Commerce compensate executives?
Executive compensation is not disclosed in the provided data, preventing a comprehensive assessment. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Greater Paterson Chamber Of Commerce?
- The organization's liabilities consistently exceed its assets, with liabilities of $61,006 against assets of $55,915 in 2023. - Revenue has significantly declined from $340,107 in 2022 to $182,072 in 2023. - Program expenses are not clearly detailed, making it difficult to assess impact. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent decline in revenue and the high ratio of liabilities to assets, what is the long-term financial viability strategy for the Greater Paterson Chamber of Commerce?
The organization needs to address its declining revenue and increasing liabilities to ensure long-term sustainability. A detailed financial recovery plan, including revenue diversification and cost reduction strategies, is crucial.
How does the Chamber justify its program spending when its overall financial health appears to be deteriorating?
Without specific program details, it's challenging to assess the effectiveness of program spending. The Chamber should provide a clear breakdown of how its program expenses contribute to its mission and demonstrate tangible outcomes.
Filing History
IRS 990 filing history for Greater Paterson Chamber Of Commerce showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Greater Paterson Chamber Of Commerce's revenue has declined by 5%, moving from $192K to $182K. Total assets increased by 9.4% over the same period, from $51K to $56K. Total functional expenses fell by 22.3%, from $168K to $131K. In its most recent filing year (2023), Greater Paterson Chamber Of Commerce reported a surplus of $51K, with revenue exceeding expenses. The organization holds $61K in liabilities against $56K in assets (debt-to-asset ratio: 109.1%), resulting in net assets of $-5,091.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $182K | $131K | $56K | $61K | — | — |
| 2022 | $340K | $170K | $39K | $95K | — | View 990 |
| 2021 | $108K | $108K | $24K | $251K | — | View 990 |
| 2020 | $107K | $100K | $28K | $255K | — | — |
| 2019 | $179K | $166K | $32K | $266K | — | View 990 |
| 2018 | $177K | $186K | $33K | $280K | — | View 990 |
| 2017 | $205K | $190K | $49K | $288K | — | View 990 |
| 2016 | $193K | $181K | $42K | $290K | — | View 990 |
| 2015 | $233K | $216K | $61K | $321K | — | View 990 |
| 2014 | $200K | $200K | $21K | $298K | — | View 990 |
| 2013 | $172K | $196K | $33K | $311K | — | View 990 |
| 2012 | $208K | $213K | $21K | $275K | — | View 990 |
| 2011 | $192K | $168K | $51K | $300K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $182K, expenses of $131K, and assets of $56K (revenue -46.5% year-over-year).
- 2022: Revenue of $340K, expenses of $170K, and assets of $39K (revenue +216.2% year-over-year).
- 2021: Revenue of $108K, expenses of $108K, and assets of $24K (revenue +0.5% year-over-year).
- 2020: Revenue of $107K, expenses of $100K, and assets of $28K (revenue -40.3% year-over-year).
- 2019: Revenue of $179K, expenses of $166K, and assets of $32K (revenue +1.0% year-over-year).
- 2018: Revenue of $177K, expenses of $186K, and assets of $33K (revenue -13.5% year-over-year).
- 2017: Revenue of $205K, expenses of $190K, and assets of $49K (revenue +6.2% year-over-year).
- 2016: Revenue of $193K, expenses of $181K, and assets of $42K (revenue -17.2% year-over-year).
- 2015: Revenue of $233K, expenses of $216K, and assets of $61K (revenue +16.5% year-over-year).
- 2014: Revenue of $200K, expenses of $200K, and assets of $21K (revenue +16.1% year-over-year).
- 2013: Revenue of $172K, expenses of $196K, and assets of $33K (revenue -17.2% year-over-year).
- 2012: Revenue of $208K, expenses of $213K, and assets of $21K (revenue +8.6% year-over-year).
- 2011: Revenue of $192K, expenses of $168K, and assets of $51K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Greater Paterson Chamber Of Commerce:
Data Sources and Methodology
This transparency report for Greater Paterson Chamber Of Commerce 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.