Public Charity

EASTERN AMERICAN ECONOMIC DEVELOPMENT CORPORATION

EASTERN AMERICAN ECONOMIC DEVELOPMENT CORPORATION is a Public Charity headquartered in PALISADES PARK, NJ. Financial data from the 2025 filing: $351K revenue, $475K expenses, $890K total assets.

EIN: 204647454 PALISADES PARK, NJ Small Business Development NTEE: S43 Latest filing: 2025
Total Revenue$351K
Total Expenses$475K
Total Assets$890K
Grant Records0
Filing Years2021–2025

Mission

EAEDC PROMOTES ECONOMIC DEVELOPMENT BY PROVIDING AFFORDABLE FINANCING, TECHNICAL ASSISTANCE AND BUSINESS ADVISORY SERVICES TO UNDERSERVED ENTREPRENEURS AND SMALL BUSINESSES, WITH A FOCUS ON EXPANDING ACCESS TO CAPITAL AND CREATING SUSTAINABLE ECONOMIC OPPORTUNITIES.

Where $100 goes at Eastern American Economic Development Corporation

How Eastern American Economic Development Corporation divides every $100 it spends, from its own Form 990 filings, averaged across 9 years.

$63 Programs the work itself
$37 Management running the organization
$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $63 for programs

$27
Provided affordable microloans to underserved small businesses to support startup and expansion activities
43% of program spending
$18
Delivered business operation support (bos) including bookkeeping assistance, financial management, loan readiness, and business consulting
29% of program spending
$18
Assisted entrepreneurs in obtaining sba and other commercial financing through technical assistance and loan packaging services
28% of program spending
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Source: Form 990 filings with the IRS, latest fiscal year 2025. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Officers & Directors

DIRECTOR/SEC Alexander Kangseok Choi
DIRECTOR Ken Gilho Choi
PRESIDENT Kwon H Jung
DIRECTOR Soo Jin Jung

Officer compensation and complete director data available with membership.

Financial Trends

Year Revenue Expenses Assets
2025 $351K $475K $890K
2024 $407K $560K $1.1M
2023 $1.3M $828K $1.6M
2022 $2.1M $541K $1.9M
2021 $558K $541K $364K

Between 2021 and 2025, reported annual revenue declined from $558K to $351K (-37%), with total assets most recently reported at $890K.

Interactive year-over-year charts and full filing details available with membership.

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