Union County Economic Development Corp

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Union County Economic Development Corp Form 990, Revenue, CEO Pay, and IRS Filing Signals

Union County Economic Development Corp is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Union County Economic Development Corp in one place.

Is Union County Economic Development Corp Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Union County Economic Development Corp shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Keep the Investigation Moving

Union County Economic Development Corp directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

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.

Organization Overview

Union County Economic Development Corp is a mid-size nonprofit that has been operating for 47 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.6%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Union County Economic Development Corp reported a surplus of $988K with revenue exceeding expenses, holds 83.8 months of operating reserves (strong position), has a debt-to-asset ratio of 32.8% (moderate leverage).

Financial Trends

Over 13 years of filings (2011–2023), Union County Economic Development Corp's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.

IRS Tax-Exempt Classification

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 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.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $988K, with revenue exceeding expenses.
• Debt-to-asset ratio: 32.8%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Union County Economic Development Corp:

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.