Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2008.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
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Who runs it and what they're paid
3 people listed on the 990.
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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 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Empowers Paterson residents through education and community development programs.
Questions for 75 Spruce Street Development INC
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Funds to support educational programming at the community charter school of paterson to benefit 900 paterson students.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $811K | $910K |
| Land, buildings, equipmentLn 10c | $7.0M | $6.9M |
| Total assetsLn 16 | $7.8M | $8.0M |
| LiabilitiesLn 26 | $6.0M | $5.8M |
| Net assetsLn 32 | $1.9M | $2.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Management feesLn 11a | $60K | $60K | ||
| Accounting feesLn 11c | $15K | $15K | ||
| Other fees for servicesLn 11g | $180K | $180K | ||
| OccupancyLn 16 | $9K | $9K | ||
| InterestLn 20 | $235K | $235K | ||
| Depreciation, depletion and amortizationLn 22 | $145K | $145K | ||
| InsuranceLn 23 | $30K | $30K | ||
| Other expenses (24a–d)Ln 24 | $32K | $32K | ||
| All other expensesLn 24e | $243 | $243 | ||
| Total functional expensesLn 25 | $705K | $705K | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $1.5M | $1.2M | $300K | $3.2M | 990 PDF |
| FY2024 | $1.4M | $1.2M | $230K | $2.9M | 990 PDF |
| FY2023 | $1.5M | $1.3M | $191K | $2.6M | 990 PDF |
| FY2022 | $1.4M | $1.1M | $291K | $2.4M | 990 PDF |
| FY2021 Viewing | $976K | $705K | $271K | $2.2M | 990 PDF |
| FY2020 | $968K | $689K | $279K | $1.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $976,140 revenue, 12 lines filed
Part VI · Governance 0 of 3 board members independent, 2 to look at
Part VIII · Statement of revenue $976,140 across 2 lines filed
Part IX · Statement of functional expenses $704,833 across 9 lines filed
Part X · Balance sheet $7,957,026 assets, 12 lines filed
Part XI · Reconciliation of net assets $2,152,626 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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