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Silk City Education Alliance Inc

EIN 99-0808010 · Paterson, NJ

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak38 out of 100GovernanceGood81 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO BE ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, OR TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF PATERSON CHARTER SCHOOL FOR SCIENCE AND TECHNOLOGY, AND IN PARTICULAR, TO RECEIVE, ADMINISTER AND EXPEND FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES IN CONNECTION WITH: (I) THE OWNING, DEVELOPING, CONSTRUCTING, RENOVATING, LEASING, EQUIPPING, MANAGING, AND OPERATING AFFORDABLE SCHOOL FACILITIES FOR AND ON BEHALF OF THE SCHOOL, (II) SUPPORTING THE OPERATIONS AND PROGRAMS OF THE SCHOOL, INCLUDING BY FUNDRAISING AND GRANTS AND (III) TO ENGAGE IN ANY AND ALL LAWFUL ACTIVITIES PERMITTED UNDER THE LAWS OF THE UNITED STATES AND THE STATE OF NEW JERSEY AND SHALL HAVE ALL OF THE POWERS ENUMERATED IN THE NEW JERSEY NONPROFIT CORPORATION ACT, N.J.S.A. 15A:3-1 ET SEQ., AS SUPPLEMENTED AND AMENDED.

Income
$978,160
Spending
$572,825
Spent on programs
100%
Reserves
-554.5 months of spending
Largest source of income
fees for its services, 100%
Employees
0
Volunteers
3

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 38 out of 100. Higher than 8% of charities in its peer group (education, $250k to $1m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    2 of 20

    It owes 99% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 41% of income.

  • Spending floor

    15 of 15

    100% of spending went to programs.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 81 out of 100. Higher than 68% of charities in its peer group (education, $250k to $1m).

  • Independent board

    18 of 25

    3 of 3 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    12 of 15

    Its accounts were reviewed or compiled by an independent accountant, but not audited.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $572,414 spent. DURING FISCAL YEAR 2025, SILK CITY EDUCATION ALLIANCE, INC. SECURED BOND FINANCING TO PURCHASE REAL PROPERTY LOCATED ON WABASH, BUFFALO, LEHIGH, AND W. RAILWAY AVENUES IN PATERSON, NEW JERSEY. THE PROPERTY IS LEASED TO PATERSON CHARTER SCHOOL FOR SCIENCE AND TECHNOLOGY.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.