Paterson Development & Management Corporation

Analysis

Paterson Development & Management Corporation is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in July 1996, 30 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Paterson Development & Management Corporation reported income of $93k and spending of $145k, spending 155% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income fell from $122k to $93k (-23%), an average of -6.4% a year. The sharpest change came in the year to March 2024, when income rose by 19%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Paterson Development & Management Corporation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 43rd percentile within NJ. Charities of a similar size with the same main cause include Neighborhood Builders Community Development Corporation ($93k), Ric Lincolnton Apartments Inc ($93k) and Partners in Action Inc ($93k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $1.8m against liabilities of $30k, net assets of $1.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.