Civic Intelligence

Special Improvement District Borough of Red Bank Inc Red Bank Rivercenter

990 • Fiscal year 2024 • EIN 22-3133371

Jan 01, 2024 to Dec 31, 2024 • Filed on Feb 07, 2026

Organization Profilewww.RedBank.org
46 English Plaza 6BRed Bank, NJ 07701

(732) 842-4244

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.64x

Higher debt load relative to assets than 83% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

76th percentile

0.66x

Higher debt load relative to revenue than 76% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Net Margin

24th percentile

-9.1%

Higher net margin than 24% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

48th percentile

$100,000

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

2024 filings • NTEE S • $1M-$5M nonprofits • Source year 2024

Asset Growth

13th percentile

-13%

Faster asset growth than 13% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

17th percentile

-16%

Faster revenue growth than 17% of similar nonprofits.

2024 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$916,730

Down $138,608 (-13%) from 2023

Net Assets

Down

$333,493

Down $80,349 (-19%) from 2023

Liabilities

Down

$583,237

Down $58,259 (-9.1%) from 2023

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin24th percentile

Revenue

Down

$883,294

Down $168,602 (-16%) from 2023

Expenses

Up

$963,643

Up $292,932 (+44%) from 2023

Net Income

Down

-$80,349

Down $461,534 (-121%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2011: $586,611Liabilities 2011: $300,919Net Assets 2011: $285,6922011Assets 2012: $595,198Liabilities 2012: $272,109Net Assets 2012: $323,0892012Assets 2013: $644,557Liabilities 2013: $252,837Net Assets 2013: $391,7202013Assets 2014: $659,589Liabilities 2014: $200,778Net Assets 2014: $458,8112014Assets 2015: $640,637Liabilities 2015: $182,970Net Assets 2015: $457,6672015Assets 2016: $550,819Liabilities 2016: $126,270Net Assets 2016: $424,5492016Assets 2017: $964,754Liabilities 2017: $561,690Net Assets 2017: $403,0642017Assets 2018: $869,983Liabilities 2018: $527,973Net Assets 2018: $342,0102018Assets 2019: $434,626Liabilities 2019: $560,741Net Assets 2019: -$126,1152019Assets 2020: $488,801Liabilities 2020: $716,406Net Assets 2020: -$227,6052020Assets 2021: $535,503Liabilities 2021: $617,911Net Assets 2021: -$82,4082021Assets 2022: $1,124,925Liabilities 2022: $1,101,815Net Assets 2022: $23,1102022Assets 2023: $1,055,338Liabilities 2023: $641,496Net Assets 2023: $413,8422023Assets 2024: $916,730Liabilities 2024: $583,237Net Assets 2024: $333,4932024

Highlighted filing

2024

Assets$916,730
Liabilities$583,237
Net Assets$333,493
Open 2024 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $646,585Expenses 2011: $604,840Net Income 2011: $41,7452011Revenue 2012: $775,709Expenses 2012: $738,312Net Income 2012: $37,3972012Revenue 2013: $798,963Expenses 2013: $730,332Net Income 2013: $68,6312013Revenue 2014: $762,160Expenses 2014: $695,069Net Income 2014: $67,0912014Revenue 2015: $666,425Expenses 2015: $667,569Net Income 2015: -$1,1442015Revenue 2016: $783,948Expenses 2016: $817,066Net Income 2016: -$33,1182016Revenue 2017: $692,195Expenses 2017: $713,680Net Income 2017: -$21,4852017Revenue 2018: $814,076Expenses 2018: $875,130Net Income 2018: -$61,0542018Revenue 2019: $843,245Expenses 2019: $1,311,370Net Income 2019: -$468,1252019Revenue 2020: $704,494Expenses 2020: $805,984Net Income 2020: -$101,4902020Revenue 2021: $734,645Expenses 2021: $589,448Net Income 2021: $145,1972021Revenue 2022: $646,196Expenses 2022: $544,553Net Income 2022: $101,6432022Revenue 2023: $1,051,896Expenses 2023: $670,711Net Income 2023: $381,1852023Revenue 2024: $883,294Expenses 2024: $963,643Net Income 2024: -$80,3492024

Highlighted filing

2024

Revenue$883,294
Expenses$963,643
Net Income-$80,349
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Feb 7, 2026
Return Version
2024v5.2
Gross Receipts
$1,001,434
Mission and Program Overview

Mission

RiverCenter's mission is to cultivate and promote a thriving economic environment in downtown Red Bank. RiverCenter employs programs in business recruitment, marketing and promotions, design, development management and capital improvement.

Red Bank RiverCenter is the management organization for the entire downtown business district. It manages business recruitment, promotional events and capital projects in addition to business assistance and work with the Borough of Red Bank.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$855,824$661,954▼ $193,870
Accounts Receivable$24,751$80,800▲ $56,049
Cash and Non-Interest-Bearing Accounts$36,135$51,148▲ $15,013
Prepaid Expenses and Deferred Charges$5,314$14,481▲ $9,167
Land, Buildings, and Equipment, Net$1,706$639▼ $1,067
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,055,338$916,730▼ $138,608
Other Assets Total$131,608$107,708▼ $23,900
Liabilities
Mortgage Notes Payable Secured by Investment Property$495,113$444,141▼ $50,972
Other Liabilities$131,608$107,708▼ $23,900
Accounts Payable and Accrued Expenses$14,775$31,388▲ $16,613
Total Liabilities$641,496$583,237▼ $58,259
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$413,842$333,493▼ $80,349
Total Net Assets Fund Balance$413,842$333,493▼ $80,349
Total Liabilities and Net Assets / Fund Balance$1,055,338$916,730▼ $138,608

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$75,000$75,000
Other Land Buildings$639$4,698$5,337
Other Assets Org$107,708--
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Robert ZuckermanExecutive DirectorFT$100,000$100,000
Mairin BellackExecutive DirectorFT$6,635$6,635

Board Members and Trustees

NameTitle
Adam RechnitzDirector
Angela CourtneyDirector
Beth McLooneDirector
Cassie MurphyDirector
Debbie EisensteinDirector
Ingeborg PerndorferDirector
Jared Patrick YuroDirector
Jason DanielsDirector
Jay HermanDirector
Jen ClarkeDirector
Jeremy SuarezDirector
Jim GantDirector
Jim ScavoneDirector
Kate TriggianoDirector
Louis AndrianosDirector
Marta QuinnDirector
Mary DeMontDirector
Samantha BowersDirector
Sheila HintzeDirector
Stephen RacitiDirector
Tim McLooneDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$150,000
Program Service Revenue
$656,589
Investment Income
$36,738
Other Revenue
$39,967
Change in Net Assets
$-80,349

Audited Revenue Reconciliation

Revenue per Audited Statements
$883,294
Revenue Not Reported on Form 990
$118,140
Total Revenue per Audited Statements
$1,001,434
Total Revenue per Form 990
$883,294
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$641,817
Salaries, Compensation, and Employee Benefits$321,826
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$86,999$80,363-$167,362
Current Officers, Directors, Trustees, and Key Employees$50,000$56,635-$106,635
Advertising$60,291$22,376-$82,667
All Other Expenses$43,383$9,451-$52,834
Occupancy$26,594$11,398-$37,992
Other Employee Benefits$9,040$15,478-$24,518
Payroll Taxes$11,687$11,624-$23,311
Office Expenses$11,097$7,398-$18,495
Other Expenses$1,369$17,111-$18,480
Insurance$2,251$3,370-$5,621
Interest-$1,594-$1,594
Depreciation Depletion-$1,067-$1,067
Total Functional Expenses$693,256$270,387$0$963,643

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,081,783
Expenses per Audited Statements$963,643
Total Expenses per Form 990$963,643
Expenses Not Reported on Form 990$118,140
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$158,107
Fundraising Direct Expenses$118,140
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
5K Run$86,450$86,450$57,252$29,198
Oktober Fest$64,401$64,401$21,344$43,057
Total Events$158,107$158,107$118,140$39,967
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease liability$107,708
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“Commercial property owners in the Special Improvement District elect their Board of Directors by a ballot that is mailed to them annually. Officers are then elected at the next board meeting.”

Form 990, Part VI, Section B, Line 11B

“The executive committee meets twice a month and the board meets quarterly. The form 990 is reviewed by the treasurer and then brought to the board for discussion and approval.”

Form 990, Part VI, Section B, Line 12C

“All board members have a copy of the Center's conflict of interest policies. Any issues are brought to the executive committee, then to the board. Issues are resolved at the board meetings.”

Form 990, Part VI, Section B, Line 15A

“The board compares information obtained from similar organizations in comparable size towns. The information is used by the executive committee when preparing the annual budget. The budget is approved by the board annually.”

Form 990, Part VI, Section C, Line 19

“Information is provided upon request.”

Filing and Contact Details

Filer

Filer Name
Special Improvement District Borough of
EIN
22-3133371
Phone
7328424244
Address
46 English Plaza 6B, Red Bank, NJ 07701

Signing Officer

Name
Mairin Bellack
Title
Executive Director
Signed
2026-02-07
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Legal Domicile
Nj
Voting Board Members
21
Independent Board Members
21
Employees
7

Preparer

Firm
Donna Foxman CPA
Address
105 Foxwood Terrace, Toms River, NJ 08755
Preparer
Donna Foxman CPA
Phone
7323497638
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Fundraising reported at gross $118140”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Fundraising costs netted with revenue $118140”

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IRS990/Form990PartVIISectionAGrp/PersonNm2Jason Daniels
IRS990/Form990PartVIISectionAGrp/PersonNm3Debbie Eisenstein
IRS990/Form990PartVIISectionAGrp/PersonNm4Jim Gant
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IRS990/Form990PartVIISectionAGrp/PersonNm15Kate Triggiano
IRS990/Form990PartVIISectionAGrp/PersonNm16Jen Clarke
IRS990/Form990PartVIISectionAGrp/PersonNm17Adam Rechnitz
IRS990/Form990PartVIISectionAGrp/PersonNm18Tim McLoone
IRS990/Form990PartVIISectionAGrp/PersonNm19Marta Quinn
IRS990/Form990PartVIISectionAGrp/PersonNm20Samantha Bowers
IRS990/Form990PartVIISectionAGrp/PersonNm21Jeremy Suarez
IRS990/Form990PartVIISectionAGrp/PersonNm22Beth McLoone
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IRS990/MissionDesc0RiverCenter's mission is to cultivate and promote a thriving economic environment in downtown Red Bank. RiverCenter employs programs in business recruitment, marketing and promotions, design, development management and capital improvement.
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IRS990/ProgramServiceRevenueGrp/Desc0Programs & events
IRS990/ProgramServiceRevenueGrp/Desc1Red Bank assessment
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IRS990/ProgSrvcAccomActy2Grp/Desc0Marketing & Promotions: We continued to market the downtown Red Bank business district to our own residents, neighboring communities and counties, and statewide.RiverCenter accomplished the following in 2024: - Grew the audience for our weekly digital newsletter, the Red Bank Beat,featuring new and existing businesses and special events taking place downtown, and continued our expansion of social media on Facebook and Instagram.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$916,730
Liabilities
$583,237
Net assets
$333,493
Revenue
$883,294
Expenses
$963,643
Net income
-$80,349
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.92$0.58$0.33$0.88$0.96$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.06$0.64$0.41$1.05$0.67$0.38
2022Detailed filing. Detailed filing data is available for this year.$1.12$1.10$0.02$0.65$0.54$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.54$0.62$0.08$0.73$0.59$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.49$0.72$0.23$0.70$0.81$0.10
2019Detailed filing. Detailed filing data is available for this year.$0.43$0.56$0.13$0.84$1.31$0.47
2018Detailed filing. Detailed filing data is available for this year.$0.87$0.53$0.34$0.81$0.88$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.96$0.56$0.40$0.69$0.71$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.55$0.13$0.42$0.78$0.82$0.03
2015Summary only. Only limited summary data is available for this year.$0.64$0.18$0.46$0.67$0.67$0.00
2014Summary only. Only limited summary data is available for this year.$0.66$0.20$0.46$0.76$0.70$0.07
2013Summary only. Only limited summary data is available for this year.$0.64$0.25$0.39$0.80$0.73$0.07
2012Summary only. Only limited summary data is available for this year.$0.60$0.27$0.32$0.78$0.74$0.04
2011Summary only. Only limited summary data is available for this year.$0.59$0.30$0.29$0.65$0.60$0.04
Peer Organizations

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