Paterson Restoration Corporation
Paterson Restoration Corporation: Declining Revenue and High Administrative Costs Raise Concerns
EIN: 222188180 · Paterson, NJ · NTEE: S310 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $343K |
| Total Expenses | $125K |
| Program Spending | 30% |
| Net Assets | $19.2M |
| Transparency Score | 65/100 |
Is Paterson Restoration Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Paterson Restoration Corporation directs 30% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Paterson Restoration Corporation
Paterson Restoration Corporation (EIN: 222188180) is a nonprofit organization based in Paterson, NJ, classified under NTEE code S310. The organization reported total revenue of $343K and total assets of $11.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Paterson Restoration Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Paterson Restoration Corporation is a small nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -14.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $166K |
| Total Expenses | $125K |
| Surplus / Deficit | +$41K |
| Total Assets | $19.9M |
| Total Liabilities | $660K |
| Net Assets | $19.2M |
| Operating Margin | 24.5% |
| Debt-to-Asset Ratio | 3.3% |
| Months of Reserves | 1905.0 months |
Financial Health Grade: A
In 2023, Paterson Restoration Corporation reported a surplus of $41K with revenue exceeding expenses, holds 1905.0 months of operating reserves (strong position), has a debt-to-asset ratio of 3.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Paterson Restoration Corporation's revenue has declined at a compound annual growth rate (CAGR) of -14.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +64.2% | +20.5% | +-0.0% |
| 2022 | -79.2% | -65.2% | -1.1% |
| 2021 | -11.9% | -1.5% | -0.3% |
| 2020 | -23.6% | -45.6% | -0.8% |
| 2019 | -48.8% | -46.4% | -0.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1978 |
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 Paterson Restoration Corporation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 50%
- programs: 30%
- fundraising: 20%
According to IRS 990 filings, Paterson Restoration Corporation allocates its expenses as follows: admin: 50%, programs: 30%, fundraising: 20%. Only 30% is directed toward programs, which may warrant further investigation by donors.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $41K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.3%.
Executive Compensation Analysis
Executive compensation cannot be assessed without specific salary data for key personnel, which is not included in the provided financial summaries.
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 Paterson Restoration Corporation's IRS 990 filings:
- Revenue has significantly declined from $2,203,941 in 2016 to $165,732 in 2023, indicating a substantial reduction in operational scale or funding.
- Expenses consistently exceed revenue in recent years (e.g., 2023: $125,148 expenses vs. $165,732 revenue; 2022: $103,863 expenses vs. $100,919 revenue), suggesting potential financial unsustainability.
- The organization's assets have remained relatively stable around $20 million despite declining revenue, raising questions about asset utilization or investment strategies.
- Liabilities have decreased from $2,464,264 in 2016 to $659,806 in 2023, which could be a positive sign but needs to be contextualized with the revenue decline.
Strengths
The following positive indicators were identified for Paterson Restoration Corporation:
- The organization has maintained a substantial asset base of over $11 million, providing a foundation for potential future activities.
- Consistent reporting of 0% compensation from related parties suggests good governance in that specific area.
Frequently Asked Questions about Paterson Restoration Corporation
Is Paterson Restoration Corporation a legitimate charity?
Paterson Restoration Corporation (EIN: 222188180) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $343K. 4 red flags identified. 2 strengths noted. Financial health grade: A.
How does Paterson Restoration Corporation spend its money?
Paterson Restoration Corporation directs 30% of its spending to programs and services. Fundraising costs 20%. This falls below the 65% benchmark.
Are donations to Paterson Restoration Corporation tax-deductible?
Paterson Restoration Corporation is registered as a tax-exempt nonprofit (EIN: 222188180). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Paterson Restoration Corporation's spending goes to programs?
Paterson Restoration Corporation directs 30% to programs, 20% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
How does Paterson Restoration Corporation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Paterson Restoration Corporation is above average for NTEE category S310 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Paterson Restoration Corporation located?
Paterson Restoration Corporation is headquartered in Paterson, New Jersey and files with the IRS under EIN 222188180. It is classified under NTEE code S310.
How many years of IRS 990 filings does Paterson Restoration Corporation have?
Paterson Restoration Corporation 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 $343K in total revenue.
What does Paterson Restoration Corporation do?
Paterson Restoration Corporation is a nonprofit organization in the Community Improvement sector, located in Paterson, New Jersey. It is classified under NTEE code S310.
How much revenue does Paterson Restoration Corporation have?
Paterson Restoration Corporation reported total revenue of $343,348. Based on 13 IRS 990 filings on record.
What are Paterson Restoration Corporation's total assets?
Paterson Restoration Corporation holds total assets of $11,284,806 as reported in IRS 990 filings.
Where is Paterson Restoration Corporation located?
Paterson Restoration Corporation is based in Paterson, New Jersey.
What is Paterson Restoration Corporation's EIN?
Paterson Restoration Corporation's Employer Identification Number (EIN) is 222188180. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Paterson Restoration Corporation?
Paterson Restoration Corporation is classified under NTEE code S310 (Community Improvement).
Is Paterson Restoration Corporation a registered 501(c)(3)?
Yes, Paterson Restoration Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222188180.
Does Paterson Restoration Corporation file IRS Form 990?
Yes, Paterson Restoration Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202305.
What was Paterson Restoration Corporation's revenue in 2023?
In the 202305 filing period, Paterson Restoration Corporation reported total revenue of $165,732, total expenses of $125,148, and net assets of $19,867,630.
Is Paterson Restoration Corporation's revenue growing or declining?
Paterson Restoration Corporation's revenue is growing. Revenue went from $100,919 (202205) to $165,732 (202305), a +64.2% change. Based on 13 filings on record.
What is Paterson Restoration Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Paterson Restoration Corporation covers tax period 202305. It shows revenue of $165,732, expenses of $125,148, total assets of $19,867,630, and liabilities of $659,806.
How much does Paterson Restoration Corporation spend on programs vs administration?
Based on IRS 990 analysis, Paterson Restoration Corporation allocates approximately 30% of expenses to program services, 50% to administrative costs, and 20% to fundraising. Overhead costs appear high relative to program spending.
Is Paterson Restoration Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Paterson Restoration Corporation shows mixed signals. Mission Score: 65/100 (Good). 4 red flags identified. 2 strengths noted.
What are the red flags for Paterson Restoration Corporation?
The following concerns were identified: Revenue has significantly declined from $2,203,941 in 2016 to $165,732 in 2023, indicating a substantial reduction in operational scale or funding.. Expenses consistently exceed revenue in recent years (e.g., 2023: $125,148 expenses vs. $165,732 revenue; 2022: $103,863 expenses vs. $100,919 revenue), suggesting potential financial unsustainability.. The organization's assets have remained relatively stable around $20 million despite declining revenue, raising questions about asset utilization or investment strategies.. Liabilities have decreased from $2,464,264 in 2016 to $659,806 in 2023, which could be a positive sign but needs to be contextualized with the revenue decline.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Paterson Restoration Corporation's strengths?
Positive indicators for Paterson Restoration Corporation include: The organization has maintained a substantial asset base of over $11 million, providing a foundation for potential future activities.. Consistent reporting of 0% compensation from related parties suggests good governance in that specific area.. These findings are derived from AI analysis of the organization's financial filings.
How does Paterson Restoration Corporation compensate executives?
Executive compensation cannot be assessed without specific salary data for key personnel, which is not included in the provided financial summaries. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the drastic decline in revenue from over $2 million to under $200,000, what specific strategic changes or operational shifts has Paterson Restoration Corporation implemented to adapt to this reduced funding environment?
The provided data does not detail strategic changes. The consistent decline in revenue and the fact that expenses often exceed revenue in recent years suggest a struggle to adapt or a significant change in operational focus not reflected in the summary figures.
With assets consistently around $20 million while revenue has plummeted, how are these significant assets being utilized or managed to support the organization's mission, and what is the long-term plan for their deployment?
The data does not specify asset utilization. The stability of assets despite revenue decline could indicate a reliance on endowments, investments, or a shift towards asset-based programs, but further details are needed to understand their strategic role.
Filing History
IRS 990 filing history for Paterson Restoration Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Paterson Restoration Corporation's revenue has declined by 85.1%, moving from $1.1M to $166K. Total assets decreased by 8.6% over the same period, from $21.7M to $19.9M. Total functional expenses fell by 50.7%, from $254K to $125K. In its most recent filing year (2023), Paterson Restoration Corporation reported a surplus of $41K, with revenue exceeding expenses. The organization holds $660K in liabilities against $19.9M in assets (debt-to-asset ratio: 3.3%), resulting in net assets of $19.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $166K | $125K | $19.9M | $660K | — | View 990 |
| 2022 | $101K | $104K | $19.9M | $707K | — | View 990 |
| 2021 | $485K | $298K | $20.1M | $913K | — | View 990 |
| 2020 | $550K | $303K | $20.2M | $1.2M | — | View 990 |
| 2019 | $721K | $557K | $20.3M | $1.6M | — | View 990 |
| 2018 | $1.4M | $1.0M | $20.4M | $1.9M | — | View 990 |
| 2017 | $1.1M | $1.7M | $20.6M | $2.5M | — | View 990 |
| 2016 | $2.2M | $1.9M | $21.2M | $2.5M | — | View 990 |
| 2015 | $1.0M | $585K | $22.0M | $3.6M | — | View 990 |
| 2014 | $1.6M | $856K | $22.3M | $4.4M | — | View 990 |
| 2013 | $4.5M | $4.1M | $22.9M | $5.8M | — | View 990 |
| 2012 | $3.4M | $2.0M | $26.8M | $10.0M | — | View 990 |
| 2011 | $1.1M | $254K | $21.7M | $6.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $166K, expenses of $125K, and assets of $19.9M (revenue +64.2% year-over-year).
- 2022: Revenue of $101K, expenses of $104K, and assets of $19.9M (revenue -79.2% year-over-year).
- 2021: Revenue of $485K, expenses of $298K, and assets of $20.1M (revenue -11.9% year-over-year).
- 2020: Revenue of $550K, expenses of $303K, and assets of $20.2M (revenue -23.6% year-over-year).
- 2019: Revenue of $721K, expenses of $557K, and assets of $20.3M (revenue -48.8% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.0M, and assets of $20.4M (revenue +29.6% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.7M, and assets of $20.6M (revenue -50.8% year-over-year).
- 2016: Revenue of $2.2M, expenses of $1.9M, and assets of $21.2M (revenue +116.4% year-over-year).
- 2015: Revenue of $1.0M, expenses of $585K, and assets of $22.0M (revenue -36.9% year-over-year).
- 2014: Revenue of $1.6M, expenses of $856K, and assets of $22.3M (revenue -64.3% year-over-year).
- 2013: Revenue of $4.5M, expenses of $4.1M, and assets of $22.9M (revenue +31.6% year-over-year).
- 2012: Revenue of $3.4M, expenses of $2.0M, and assets of $26.8M (revenue +207.8% year-over-year).
- 2011: Revenue of $1.1M, expenses of $254K, and assets of $21.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Paterson Restoration Corporation:
Data Sources and Methodology
This transparency report for Paterson Restoration Corporation 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.