Union County Economic Development Corp
Union County Economic Development Corp: Strong Assets, Consistent Revenue, and Low Liabilities
EIN: 222155884 · Cranford, NJ · NTEE: S310 · Updated: 2026-04-04
About Union County Economic Development Corp
Union County Economic Development Corp (EIN: 222155884) is a nonprofit organization based in Cranford, NJ, classified under NTEE code S310. The organization reported total revenue of $6.0M and total assets of $26.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Union County Economic Development Corp'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 Union County Economic Development Corp with a Mission Score of 75 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Union County Economic Development Corp allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, which is unusual for an organization of this size and revenue, suggesting either a volunteer-led executive team or compensation being reported under different categories.
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 Union County Economic Development Corp's IRS 990 filings:
- Consistent reporting of 0% compensation for key employees across all years could be a red flag for transparency regarding executive or key personnel remuneration, or it may indicate a unique operational model.
Strengths
The following positive indicators were identified for Union County Economic Development Corp:
- Significant growth in total assets from $15.7M in 2018 to $26.7M in 2023 demonstrates strong financial stewardship and capacity.
- Revenue has remained robust, with 2023 reporting $4,807,989, indicating consistent funding and operational stability.
- Low and stable liabilities relative to assets suggest a financially secure organization with minimal debt risk.
- The organization has consistently maintained a positive net asset position, growing its financial base over time.
Frequently Asked Questions about Union County Economic Development Corp
What does Union County Economic Development Corp do?
Union County Economic Development Corp is a nonprofit organization in the Community Improvement sector, located in Cranford, New Jersey. It is classified under NTEE code S310.
How much revenue does Union County Economic Development Corp have?
Union County Economic Development Corp reported total revenue of $5,994,974. Based on 13 IRS 990 filings on record.
What are Union County Economic Development Corp's total assets?
Union County Economic Development Corp holds total assets of $26,838,573 as reported in IRS 990 filings.
Where is Union County Economic Development Corp located?
Union County Economic Development Corp is based in Cranford, New Jersey.
What is Union County Economic Development Corp's EIN?
Union County Economic Development Corp's Employer Identification Number (EIN) is 222155884. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Union County Economic Development Corp?
Union County Economic Development Corp is classified under NTEE code S310 (Community Improvement).
Is Union County Economic Development Corp a registered 501(c)(3)?
Yes, Union County Economic Development Corp is recognized as a tax-exempt organization by the IRS. EIN: 222155884.
Does Union County Economic Development Corp file IRS Form 990?
Yes, Union County Economic Development Corp has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Union County Economic Development Corp's revenue in 2023?
In the 202312 filing period, Union County Economic Development Corp reported total revenue of $4,807,989, total expenses of $3,819,951, and net assets of $26,668,895.
Is Union County Economic Development Corp's revenue growing or declining?
Union County Economic Development Corp's revenue is declining. Revenue went from $5,346,138 (202212) to $4,807,989 (202312), a -10.1% change. Based on 13 filings on record.
What is Union County Economic Development Corp's most recent 990 filing?
The most recent IRS Form 990 filing for Union County Economic Development Corp covers tax period 202312. It shows revenue of $4,807,989, expenses of $3,819,951, total assets of $26,668,895, and liabilities of $8,754,469.
How much does Union County Economic Development Corp spend on programs vs administration?
Based on IRS 990 analysis, Union County Economic Development Corp allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Union County Economic Development Corp a trustworthy charity?
Based on AI analysis of IRS 990 data, Union County Economic Development Corp appears trustworthy. Mission Score: 75/100 (Good). 1 red flag identified. 4 strengths noted.
What are the red flags for Union County Economic Development Corp?
The following concerns were identified: Consistent reporting of 0% compensation for key employees across all years could be a red flag for transparency regarding executive or key personnel remuneration, or it may indicate a unique operational model.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Union County Economic Development Corp's strengths?
Positive indicators for Union County Economic Development Corp include: Significant growth in total assets from $15.7M in 2018 to $26.7M in 2023 demonstrates strong financial stewardship and capacity.. Revenue has remained robust, with 2023 reporting $4,807,989, indicating consistent funding and operational stability.. Low and stable liabilities relative to assets suggest a financially secure organization with minimal debt risk.. The organization has consistently maintained a positive net asset position, growing its financial base over time.. These findings are derived from AI analysis of the organization's financial filings.
How does Union County Economic Development Corp compensate executives?
Executive compensation is consistently reported as $0 across all available filings, which is unusual for an organization of this size and revenue, suggesting either a volunteer-led executive team or compensation being reported under different categories. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for key employee compensation, how does Union County Economic Development Corp attract and retain leadership, and where are these costs, if any, reflected in their financial statements?
The filings consistently show $0 for key employee compensation. This could imply that executive functions are performed by volunteers, or that compensation is structured in a way that it's not reported under 'key employee compensation' but perhaps as part of program expenses or administrative overhead, which would require further investigation into their detailed expense breakdowns.
Filing History
IRS 990 filing history for Union County Economic Development Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Union County Economic Development Corp's revenue has grown by 114.8%, moving from $2.2M to $4.8M. Total assets increased by 270.4% over the same period, from $7.2M to $26.7M. Total functional expenses rose by 112.2%, from $1.8M to $3.8M. In its most recent filing year (2023), Union County Economic Development Corp reported a surplus of $988K, with revenue exceeding expenses. The organization holds $8.8M in liabilities against $26.7M in assets (debt-to-asset ratio: 32.8%), resulting in net assets of $17.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $4.8M | $3.8M | $26.7M | $8.8M | — | — |
| 2022 | $5.3M | $3.5M | $24.4M | $8.2M | — | — |
| 2021 | $5.8M | $2.9M | $23.9M | $8.3M | — | View 990 |
| 2020 | $3.6M | $2.6M | $19.2M | $6.9M | — | — |
| 2019 | $3.3M | $2.8M | $16.5M | $5.9M | — | View 990 |
| 2018 | $4.3M | $2.5M | $15.7M | $6.3M | — | View 990 |
| 2017 | $3.8M | $2.5M | $16.4M | $8.4M | — | View 990 |
| 2016 | $3.5M | $2.3M | $15.6M | $9.0M | — | View 990 |
| 2015 | $2.8M | $2.0M | $13.5M | $8.3M | — | View 990 |
| 2014 | $2.6M | $2.1M | $10.9M | $6.2M | — | View 990 |
| 2013 | $2.4M | $1.9M | $9.1M | $5.0M | — | View 990 |
| 2012 | $2.1M | $1.9M | $7.9M | $4.4M | — | View 990 |
| 2011 | $2.2M | $1.8M | $7.2M | $3.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.8M, expenses of $3.8M, and assets of $26.7M (revenue -10.1% year-over-year).
- 2022: Revenue of $5.3M, expenses of $3.5M, and assets of $24.4M (revenue -8.1% year-over-year).
- 2021: Revenue of $5.8M, expenses of $2.9M, and assets of $23.9M (revenue +62.1% year-over-year).
- 2020: Revenue of $3.6M, expenses of $2.6M, and assets of $19.2M (revenue +8.3% year-over-year).
- 2019: Revenue of $3.3M, expenses of $2.8M, and assets of $16.5M (revenue -22.7% year-over-year).
- 2018: Revenue of $4.3M, expenses of $2.5M, and assets of $15.7M (revenue +12.6% year-over-year).
- 2017: Revenue of $3.8M, expenses of $2.5M, and assets of $16.4M (revenue +7.5% year-over-year).
- 2016: Revenue of $3.5M, expenses of $2.3M, and assets of $15.6M (revenue +25.7% year-over-year).
- 2015: Revenue of $2.8M, expenses of $2.0M, and assets of $13.5M (revenue +10.0% year-over-year).
- 2014: Revenue of $2.6M, expenses of $2.1M, and assets of $10.9M (revenue +8.1% year-over-year).
- 2013: Revenue of $2.4M, expenses of $1.9M, and assets of $9.1M (revenue +15.1% year-over-year).
- 2012: Revenue of $2.1M, expenses of $1.9M, and assets of $7.9M (revenue -8.2% year-over-year).
- 2011: Revenue of $2.2M, expenses of $1.8M, and assets of $7.2M.
Data Sources and Methodology
This transparency report for Union County Economic Development Corp 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.