Totals
- Total revenue
- $659,628
- Total expenses
- $696,129
- Contributions and grants received
- $461,873
- Grants paid
- $36,900
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $197,755
- Total assets, end of year
- $1,015,859
- Total liabilities, end of year
- $151,963
- Net assets or fund balances, end of year
- $863,896
- Program services expenses (Part IX)
- $555,997
- Management and general expenses
- $128,971
- Fundraising expenses
- $11,161
- Program service expenses (Part III)
- $555,997
Program services were 79.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$461,873
-
1g · Noncash contributions included above
$1,873
-
8a · Fundraising events: gross income
$122,710
-
8b · Fundraising events: direct expenses
$21,201
-
8c · Net income from fundraising events
total $101,509 · excluded $101,509
-
11a · Other revenue: OTHER INCOME
total $96,246 · related or exempt $96,246
-
11e · Other revenue, total
$96,246
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $36,900 · program services $36,900
-
7 · Other salaries and wages
total $414,534 · program services $338,668 · management and general $68,013 · fundraising $7,853
-
8 · Pension plan contributions
total $22,993 · program services $18,854 · management and general $3,679 · fundraising $460
-
9 · Other employee benefits
total $58,877 · program services $47,949 · management and general $9,867 · fundraising $1,061
-
10 · Payroll taxes
total $27,998 · program services $22,958 · management and general $4,480 · fundraising $560
-
12 · Advertising and promotion
total $9,068 · program services $9,068
-
13 · Office expenses
total $25,827 · program services $21,101 · management and general $4,237 · fundraising $489
-
17 · Travel
total $3,929 · program services $3,210 · management and general $645 · fundraising $74
-
22 · Depreciation, depletion and amortization
total $11,434 · program services $9,341 · management and general $1,876 · fundraising $217
-
23 · Insurance
total $10,065 · program services $8,223 · management and general $1,651 · fundraising $191
-
24a · Other expenses: CONSULTING EXPENSE
total $30,640 · program services $5,500 · management and general $25,140
-
24b · Other expenses: BAD DEBT EXPENSE
total $23,175 · program services $23,175 · management and general $0
-
24c · Other expenses: TELEPHONE
total $8,125 · program services $6,638 · management and general $1,333 · fundraising $154
-
24d · Other expenses: AUTO EXPENSES
total $5,400 · program services $4,412 · management and general $886 · fundraising $102
-
24e · All other expenses
total $7,164 · management and general $7,164
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $621,701 · end of year $544,043
-
3 · Pledges and grants receivable
beginning of year $48,100 · end of year $98,100
-
4 · Accounts receivable
beginning of year $68,053 · end of year $41,041
-
7 · Other notes and loans receivable
beginning of year $98,040 · end of year $45,454
-
9 · Prepaid expenses and deferred charges
beginning of year $5,727 · end of year $6,610
-
10a · Land, buildings and equipment: cost or other basis
$339,013
-
10b · Land, buildings and equipment: accumulated depreciation
$58,402
-
10c · Land, buildings and equipment, net
beginning of year $284,340 · end of year $280,611
-
17 · Accounts payable and accrued expenses
beginning of year $114,164 · end of year $93,863
-
19 · Deferred revenue
beginning of year $85,000 · end of year $0
-
25 · Other liabilities
beginning of year $26,400 · end of year $58,100
-
27 · Net assets without donor restrictions
beginning of year $833,609 · end of year $747,108
-
28 · Net assets with donor restrictions
beginning of year $66,788 · end of year $116,788
Mission and programs · 2024
Mission
BROKER, FOSTER, AND LEVERAGE PRIVATE, PUBLIC, AND COMMUNITY RESOURCES TO ENHANCE AND PROMOTE REDEVELOPMENT INITIATIVES THAT WILL REVITALIZE THE CITY OF TRENTON, NEW JERSEY WITH A PARTICULAR EMPHASIS ON THE DOWNTOWN.
-
BROKER, FOSTER, AND LEVERAGE PRIVATE, PUBLIC, AND COMMUNITY RESOURCES TO ENHANCE AND PROMOTE REDEVELOPMENT INITIATIVES THAT WILL REVITALIZE THE CITY OF TRENTON, NEW JERSEY WITH A PARTICULAR EMPHASIS ON THE DOWNTOWN.
Expenses $555,997 · Grants $36,900
As filed on the 2024 return.
Listed in Part VII
-
Kevin CummingsKEVIN CUMMINGS
BOARD CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Peg ForrestelPEG FORRESTEL
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Suzanne BorgosSUZANNE BORGOS
CORPORATE SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Nakia White BarrNAKIA WHITE BARR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Skip CiminoSKIP CIMINO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Bernie FlynnBERNIE FLYNN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Dr Merodie HancockDR MERODIE HANCOCK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Dan KennedyDAN KENNEDY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Mitch LivingstonMITCH LIVINGSTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Frank LucchesiFRANK LUCCHESI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Wes MathewsWES MATHEWS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Dr Deborah E PrestonDR DEBORAH E PRESTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Wanda SaezWANDA SAEZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Michael Van WagnerMICHAEL VAN WAGNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
Dr Joseph YoungbloodDR JOSEPH YOUNGBLOOD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
George D SowaGEORGE D SOWA
CEO
- Total calculated
- $324,285
- From this org
- $270,000
- From related orgs
- $0
- Other
- $54,285
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $225,000
- Bonus
- $45,000
- Other
- $0
- Deferred
- $16,200
- Nontaxable benefits
- $38,085
- Filer's total
- $324,285
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY
$36,900
ASSISTANCE RELATED TO ASSET ACTIVATION PLANNING, EXPLORING THE FEASIBILITY OF THE ORGANIZATION'S RESTORE, LOAN TO OWN PILOT PROGRAM
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 6 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202522799349300727
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