Civic Intelligence

Atlantic City Development Corporation

EIN 36-4808322 • 501(c)3 • Atlantic City, NJ

PO Box 8200Atlantic City, NJ 08404
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

45th percentile

0.14x

Higher debt load relative to assets than 45% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

83rd percentile

1.24x

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

6th percentile

-52%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

64th percentile

$0

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

26th percentile

-1.5%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Revenue Growth

24th percentile

-5.7%

Faster revenue growth than 24% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2024

Assets

Down

$10,271,431

Down $318,978 (-3.0%) from 2022

Liabilities

Up

$1,434,032

Up $826,495 (+136%) from 2022

Net Assets

Down

$8,837,399

Down $1,145,473 (-11%) from 2022

Revenue

Down

$1,160,125

Down $143,365 (-11%) from 2022

Expenses

Up

$1,764,034

Up $301,297 (+21%) from 2022

Net Income

Down

-$603,909

Down $444,662 (-279%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2016: $8,407,443Liabilities 2016: $1,655,724Net Assets 2016: $6,751,7192016Assets 2017: $8,226,159Liabilities 2017: $177,581Net Assets 2017: $8,048,5782017Assets 2018: $9,426,930Liabilities 2018: $167,255Net Assets 2018: $9,259,6752018Assets 2019: $9,084,511Liabilities 2019: $326,670Net Assets 2019: $8,757,8412019Assets 2020: $9,939,274Liabilities 2020: $1,708,551Net Assets 2020: $8,230,7232020Assets 2022: $10,590,409Liabilities 2022: $607,537Net Assets 2022: $9,982,8722022Assets 2024: $10,271,431Liabilities 2024: $1,434,032Net Assets 2024: $8,837,3992024

Highlighted filing

2024

Assets$10,271,431
Liabilities$1,434,032
Net Assets$8,837,399

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2016: $7,810,694Expenses 2016: $882,870Net Income 2016: $6,927,8242016Revenue 2017: $1,845,640Expenses 2017: $664,351Net Income 2017: $1,181,2892017Revenue 2018: $1,950,138Expenses 2018: $739,041Net Income 2018: $1,211,0972018Revenue 2019: $267,000Expenses 2019: $653,264Net Income 2019: -$386,2642019Revenue 2020: $309,800Expenses 2020: $836,918Net Income 2020: -$527,1182020Revenue 2022: $1,303,490Expenses 2022: $1,462,737Net Income 2022: -$159,2472022Revenue 2024: $1,160,125Expenses 2024: $1,764,034Net Income 2024: -$603,9092024

Highlighted filing

2024

Revenue$1,160,125
Expenses$1,764,034
Net Income-$603,909

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Mission and Program Overview

Mission

To further the development of the city of atlantic city and its environs, including the development of residential and commercial real estate in a manner beneficial to the community.

Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
JON F HANSONChairman - Trustee-$0--
FRANCIS X WENTWORTH JRVice Chairman - Trustee-$0--
ROBERT HOLMESSecretary - Trustee-$0--
CHRISTOPHER J PALADINOPresident - Trustee-$0--
Monica Padovano CasielloTreasurer - Trustee-$0--
Filing and Contact Details

Filer

Filer Name
Atlantic City Development Corporation
EIN
36-4808322
In Care Of
% GLEN SOFO
Phone
7322492220
Address
PO BOX 8200, Atlantic City, NJ 08404

Signing Officer

Name
Christopher Paladino
Title
President
Phone
6099945110
Signed
2023-11-15
Discuss with paid preparer
Yes

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Phone
7328281614
Raw XML Appendix371 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
AccountingFeesSchedule/AccountingFeesDetail/AdjustedNetIncomeAmt0108982
AccountingFeesSchedule/AccountingFeesDetail/Amt0108982
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AccountingFeesSchedule/AccountingFeesDetail/DisbursementsCharitablePrpsAmt0108982
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt0100
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt1100
InvestmentsOtherSchedule2/InvestmentsOtherGrp/BookValueAmt2100
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt0INVESTMENT IN ISLAND CAMPUS
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt1INVESTMENT IN ATLANTIC AVE
InvestmentsOtherSchedule2/InvestmentsOtherGrp/CategoryOrItemTxt2INVEST IN UNIV HOUSING
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IRS990PF/AnalysisIncomeProducingActyGrp/OtherRevenueDescribedGrp/Desc1MAN., OVERHEAD FEES
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IRS990PF/AnalysisOfRevenueAndExpenses/TotalRevAndExpnssAmt01303490
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm0JON F HANSON
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm1FRANCIS X WENTWORTH JR
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm2ROBERT HOLMES
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm3CHRISTOPHER J PALADINO
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm4Monica Padovano Casiello
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt0CHAIRMAN - TRUSTEE
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt1Vice chairman - TRUSTEE
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt2SECRETARY - TRUSTEE
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt3PRESIDENT - TRUSTEE
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/TitleTxt4treasurer - Trustee
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt0PO BOX 8200
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt1PO BOX 8200
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt2PO BOX 8200
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt3PO BOX 8200
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IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt0ATLANTIC CITY DEVELOPMENT CORPORATION IS A NOT-FOR-PROFIT ENTITY THAT WAS ORGANIZED TO FURTHER THE DEVELOPMENT OF THE CITY OF ATLANTIC CITY AND ITS ENVIRONS, INCLUDING THE DEVELOPMENT OF RESIDENTIAL AND COMMERCIAL REAL ESTATE IN A MANNER BENEFI CIAL TO THE COMMUNITY. THE COMPANY UNDERTAKES COMMUNITY DEVELOPMENT ACTIVITIES AND PROJECTS ON A SCALE AS MAY BE NECESSARY, APPROPRIATE, OR DESIRABLE TO IMPROVE THE SOCIAL, CULTURAL, INSTITUTIONAL, AND PHYSICAL ENVIRONMENT OF THE CITY OF ATLANTIC CITY.
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt1ATLANTIC CITY DEVELOPMENT CORPORATION IS A NOT-FOR-PROFIT ENTITY THAT WAS ORGANIZED TO FURTHER THE DEVELOPMENT OF THE CITY OF ATLANTIC CITY AND ITS ENVIRONS, INCLUDING THE DEVELOPMENT OF RESIDENTIAL AND COMMERCIAL REAL ESTATE IN A MANNER BENEFICIAL TO THE COMMUNITY. THE COMPANY UNDERTAKES COMMUNITY DEVELOPMENT ACTIVITIES AND PROJECTS ON A SCALE AS MAY BE NECESSARY, APPROPRIATE, OR DESIRABLE TO IMPROVE THE SOCIAL, CULTURAL, INSTITUTIONAL, AND PHYSICAL ENVIRONMENT OF THE CITY OF ATLANTIC CITY.
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LegalFeesSchedule/LegalFeesGrp/LegalFeesAmt09306
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OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc0DUE FROM RELATED ENTITIES
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OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc0MARKETING
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc1OFFICE EXPENSE
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc2INSURANCE
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc3DIRECT PROJECT EXPENSES
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt076307
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt123994
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt265986
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt31294466
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt076307
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt123994
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt265986
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt31158691
OtherIncomeSchedule2/OtherIncomeDetail/AdjustedNetIncomeAmt015000
OtherIncomeSchedule2/OtherIncomeDetail/AdjustedNetIncomeAmt142000
OtherIncomeSchedule2/OtherIncomeDetail/AdjustedNetIncomeAmt2648648
OtherIncomeSchedule2/OtherIncomeDetail/Desc0parking lot revenue
OtherIncomeSchedule2/OtherIncomeDetail/Desc1Interest income - note receivable
OtherIncomeSchedule2/OtherIncomeDetail/Desc2Man., Overhead Fees
OtherIncomeSchedule2/OtherIncomeDetail/NetInvestmentIncomeAmt015000
OtherIncomeSchedule2/OtherIncomeDetail/NetInvestmentIncomeAmt142000
OtherIncomeSchedule2/OtherIncomeDetail/NetInvestmentIncomeAmt20
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OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt142000
OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt2648648
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/BOYBookValueAmt0194424
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/Desc0DUE TO RELATED PARTIES
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/EOYBookValueAmt0229795
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTOPHER PALADINO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06099945110
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Atlantic City Development Corporation
ReturnHeader/Filer/BusinessNameControlTxt0ATLA
ReturnHeader/Filer/EIN0364808322
ReturnHeader/Filer/InCareOfNm0% GLEN SOFO
ReturnHeader/Filer/PhoneNum07322492220
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 8200
ReturnHeader/Filer/USAddress/CityNm0Atlantic City
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd008404
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WithumSmithBrown PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE TOWER CENTER BLVD 14TH FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EAST BRUNSWICK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008816
ReturnHeader/PreparerPersonGrp/PhoneNum07328281614
ReturnHeader/ReturnTs02023-11-14T12:48:25-06:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHRISTOPHER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PALADINO
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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