Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1979.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
68 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
26 people listed on the 990; $796K paid to officers and key staff.
Adam Farrah’s $262K as President is at the 80th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Adam Farrah | $261,955 | $255,142 | $246,539 | $242,020 | $231,124 | $208,915 |
| Elizabeth Williams | $184,939 | $175,860 | $170,475 | $160,629 | $152,673 | $148,172 |
| Ellen McHenry | — | $143,173 | $176,180 | $144,638 | $134,386 | $134,825 |
| Erich Peter | $171,904 | $164,657 | $156,538 | $150,193 | $150,002 | $142,596 |
| Sanjay Malik | $161,905 | $157,867 | $141,563 | — | — | — |
| Greg Fabijanczuk Chief | — | — | — | $134,093 | — | — |
| Greg Fabijanczuk | — | — | — | — | $127,623 | $123,692 |
| Joseph Lamberti | $109,274 | $106,237 | $102,785 | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Fosters economic growth and development throughout New Jersey.
Questions for Union County Economic Development Corp
Your first name shows with your question. Union County Economic Development Corp answers here, for everyone.
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Financial Assistance Program
Ucedc's microloan program provides both start-up and existing businesses with an opportunity to borrow money for a variety of reasons, including purchasing equipment, fixtures or inventory; working capital; or making renovations on privately owned commercial real estate.
Technical Assistance Program
Ucedc offers a wide variety of educational programs designed to help small businesses to start, grow and thrive. Whether you're a business beginner, need a refresher in the basics, or are looking for a more intensive experience, we have the training sessions to fit your NEEDS.BUSINESS basics- these free two-hour workshops address a…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $7.8M | $9.9M |
| InvestmentsLn 11–13 | $10.2M | $11.3M |
| Land, buildings, equipmentLn 10c | $733K | $700K |
| Total assetsLn 16 | $19.2M | $23.9M |
| LiabilitiesLn 26 | $6.9M | $8.3M |
| Net assetsLn 32 | $12.3M | $15.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $2K | $2K | ||
| Pay of current officers, directors and key staffLn 5 | $766K | $564K | $202K | |
| Pay of disqualified personsLn 6 | $36K | $36K | ||
| Other salaries and wagesLn 7 | $1.1M | $882K | $211K | |
| Pension plan contributionsLn 8 | $34K | $21K | $13K | |
| Other employee benefitsLn 9 | $56K | $45K | $11K | |
| Payroll taxesLn 10 | $144K | $107K | $37K | |
| Legal feesLn 11b | $7K | $7K | ||
| Accounting feesLn 11c | $56K | $56K | ||
| Investment management feesLn 11f | $44K | $44K | ||
| Other fees for servicesLn 11g | $101K | $73K | $28K | |
| Advertising and promotionLn 12 | $24K | $10K | $13K | |
| Office expensesLn 13 | $94K | $66K | $27K | |
| Information technologyLn 14 | $50K | $39K | $11K | |
| OccupancyLn 16 | $55K | $41K | $15K | |
| TravelLn 17 | $8K | $2K | $6K | |
| Conferences, conventions and meetingsLn 19 | $6K | $6K | $192 | |
| InterestLn 20 | $41K | $12K | $30K | |
| Depreciation, depletion and amortizationLn 22 | $33K | $27K | $6K | |
| InsuranceLn 23 | $30K | $23K | $7K | |
| Other expenses (24a–d)Ln 24 | $250K | $22K | $228K | |
| All other expensesLn 24e | $4K | $4K | ||
| Total functional expensesLn 25 | $2.9M | $2.0M | $930K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $4.1M | $3.9M | $174K | $19.3M | 990 PDF |
| FY2024 | $4.2M | $4.2M | $70K | $18.5M | 990 PDF |
| FY2023 | $4.8M | $3.8M | $988K | $17.9M | 990 PDF |
| FY2022 | $5.3M | $3.5M | $1.9M | $16.2M | 990 PDF |
| FY2021 Viewing | $5.8M | $2.9M | $2.9M | $15.6M | 990 PDF |
| FY2020 | $3.6M | $2.6M | $957K | $12.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $5,814,485 revenue, 12 lines filed
Part VI · Governance 19 of 20 board members independent, no flags
Part VIII · Statement of revenue $5,814,485 across 8 lines filed
Part IX · Statement of functional expenses $2,933,056 across 22 lines filed
Part X · Balance sheet $23,859,327 assets, 17 lines filed
Part XI · Reconciliation of net assets $15,578,117 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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