Civic Intelligence

Food Specialization Redevelopment

EIN 82-2457148 • 501(c)3 • Millville, NJ

Profile

To develop, construct, manage, lease sell and/or transfer the food industry commercialization center on the property located in bridegeton nj, and to contract with other non profit corporations, private entities and governmental entities as necessary to secure and participate in federal and state of nj investment tax credits including new markets tax credits, and other necessary financing. In furtherance of the aforesaid purpose, the corporation may excercise any and all powers enumerated in the new jersey non profit corportion act.

745 Lebanon RoadMillville, NJ 08332

n/A

Siviq Scores

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

Liabilities / Assets

95th percentile

1.14x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

56.60x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

2nd percentile

-155%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

23rd percentile

-3.0%

Faster asset growth than 23% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

-0.0%

Faster revenue growth than 34% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$9,220,166

Down $287,921 (-3.0%) from 2023

Liabilities

Flat

$10,500,020

Flat from 2023

Net Assets

Down

-$1,279,854

Down $287,921 (-29%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Down

$185,517

Down $5 (-0.0%) from 2023

Expenses

Down

$473,438

Down $15 (-0.0%) from 2023

Net Income

Up

-$287,921

Up $10 (+0.0%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth23rd percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2017: $1Liabilities 2017: $02017Assets 2018: $11,523,131Liabilities 2018: $11,641,606Net Assets 2018: -$118,4752018Assets 2019: $10,255,380Liabilities 2019: $10,500,097Net Assets 2019: -$244,7172019Assets 2020: $10,233,330Liabilities 2020: $10,500,095Net Assets 2020: -$266,7652020Assets 2021: $10,222,750Liabilities 2021: $10,500,095Net Assets 2021: -$277,3452021Assets 2022: $10,175,333Liabilities 2022: $10,500,020Net Assets 2022: -$324,6872022Assets 2023: $9,508,087Liabilities 2023: $10,500,020Net Assets 2023: -$991,9332023Assets 2024: $9,220,166Liabilities 2024: $10,500,020Net Assets 2024: -$1,279,8542024

Highlighted filing

2024

Assets$9,220,166
Liabilities$10,500,020
Net Assets-$1,279,854
Open 2024 Filing

Operations Trend

Revenue Growth34th percentile

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

$600K$400K$200K$0-$200K-$400KRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $432Expenses 2018: $118,907Net Income 2018: -$118,4752018Revenue 2019: $93,048Expenses 2019: $219,290Net Income 2019: -$126,2422019Revenue 2020: $185,666Expenses 2020: $207,714Net Income 2020: -$22,0482020Revenue 2021: $185,560Expenses 2021: $196,140Net Income 2021: -$10,5802021Revenue 2022: $185,529Expenses 2022: $232,871Net Income 2022: -$47,3422022Revenue 2023: $185,522Expenses 2023: $473,453Net Income 2023: -$287,9312023Revenue 2024: $185,517Expenses 2024: $473,438Net Income 2024: -$287,9212024

Highlighted filing

2024

Revenue$185,517
Expenses$473,438
Net Income-$287,921
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$9,220,166
Liabilities
$10,500,020
Net assets
-$1,279,854
Revenue
$185,517
Expenses
$473,438
Net income
-$287,921
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.22$10.5$1.28$0.19$0.47$0.29
2023Detailed filing. Detailed filing data is available for this year.$9.51$10.5$0.99$0.19$0.47$0.29
2022Detailed filing. Detailed filing data is available for this year.$10.2$10.5$0.32$0.19$0.23$0.05
2021Detailed filing. Detailed filing data is available for this year.$10.2$10.5$0.28$0.19$0.20$0.01
2020Detailed filing. Detailed filing data is available for this year.$10.2$10.5$0.27$0.19$0.21$0.02
2019Detailed filing. Detailed filing data is available for this year.$10.3$10.5$0.24$0.09$0.22$0.13
2018Detailed filing. Detailed filing data is available for this year.$11.5$11.6$0.12$0.00$0.12$0.12
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 31, 2025
Return Version
2024v5.0
Gross Receipts
$185,517
Mission and Program Overview

Mission

To develop, construct, manage, lease sell and/or transfer the food industry commercialization center on the property located in bridegeton nj, and to contract with other non profit corporations, private entities and governmental entities as necessary to secure and participate in federal and state of nj investment tax credits including new markets tax credits, and other necessary financing. In furtherance of the aforesaid purpose, the corporation may excercise any and all powers enumerated in the new jersey non profit corportion act.

To develop, construct, manage, lease, sell and/or transfer the food industry commercialization center in the city of bridgeton, nj and to contract with other non profit corporations, private entities and governmental entities as necessary to secure and participate in federal and state of nj tax credits, including new markets tax credits, and other necessary financing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,853,804$6,614,237▼ $239,567
Intangible Assets$258,795$248,160▼ $10,635
Savings and Temporary Cash Investments$34,238$21,751▼ $12,487
Loans From Officers Directors$20$20→ $0
Cash and Non-Interest-Bearing Accounts$6$7▲ $1
Total Assets$9,508,087$9,220,166▼ $287,921
Other Assets Total$2,361,244$2,336,011▼ $25,233
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,500,000$10,500,000→ $0
Total Liabilities$10,500,020$10,500,020→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-991,933$-1,279,854▼ $287,921
Total Net Assets Fund Balance$-991,933$-1,279,854▼ $287,921
Total Liabilities and Net Assets / Fund Balance$9,508,087$9,220,166▼ $287,921

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,992,987$589,699$6,582,686
Equipment$481,250$268,750$750,000
Land$140,000-$140,000
Other Assets Org$2,336,011--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Robert P Nedohon JrPresident
Kevin RabagoTrustee
Dante RietiSecretary
Dale JonesTreasurer
Edward BetheaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$185,504
Investment Income
$13
Other Revenue
$0
Change in Net Assets
$-287,921
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$473,438
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$239,567-$239,567
Interest$196,139--$196,139
Fees for Services Other$25,232$12,500-$37,732
Total Functional Expenses$221,371$252,067$0$473,438
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Loans from Officers, Directors, Trustees, and Key Employees$20$20→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“The organization maintains a board of directors, which includes 5 members. 2 members are employed by the cumberland county improvement authority (40%), 2 members are employed by cumberland empowerment zone corporation (40%), and 1 indepedent member (20%). These members all have voting power to elect or appoint one or more members of the governing body.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed and approved by the executive director and shared with members of the governing body.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Food Specialization Redevelopment
EIN
82-2457148
Phone
8568253700
Address
745 LEBANON ROAD, MILLVILLE, NJ 08332

Signing Officer

Name
Dale Jones
Title
Treasurer
Phone
8568253700
Signed
2025-03-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dale Jones
Formed
2017
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
1
Employees
0

Preparer

Firm
Martini & Martini CPA P a
Address
1135 E CHESTNUT AVE, VINELAND, NJ 08360
Preparer
Dominick Merighi
Phone
8566918934
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To develop, construct, manage, lease sell and/or transfer the food industry commercialization center on the property located in bridegeton nj, and to contract with other non profit corporations, private entities and governmental entities as necessary to secure and participate in federal and state of nj investment tax credits including new markets tax credits, and other necessary financing. In furtherance of the aforesaid purpose, the corporation may excercise any and all powers enumerated in the new jersey non profit corportion act.”

Raw XML Appendix338 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.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CUMBERLAND COUNTY IMPROVEMENT AUTHORITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1CUMBERLAND EMPOWERMENT ZONE CORPORATION
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0CUMBERLAND COUNTY IMPROVEMENT AUTHORITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt1CUMBERLAND EMPOWERMENT ZONE CORPORATION
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt05992987
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0589699
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06582686
IRS990ScheduleD/EquipmentGrp/BookValueAmt0481250
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0268750
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0750000
IRS990ScheduleD/LandGrp/BookValueAmt0140000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0140000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02336011
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OPERATING LEASES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06614237
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02336011
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt020
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine2Txt0CAPITAL LEASE OBLIGATION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0LOAN FOR BUILDING
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt09884470
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0LESSOR
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IRS990ScheduleL/TotalBalanceDueAmt020
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO DEVELOP, CONSTRUCT, MANAGE, LEASE SELL AND/OR TRANSFER THE FOOD INDUSTRY COMMERCIALIZATION CENTER ON THE PROPERTY LOCATED IN BRIDEGETON NJ, AND TO CONTRACT WITH OTHER NON PROFIT CORPORATIONS, PRIVATE ENTITIES AND GOVERNMENTAL ENTITIES AS NECESSARY TO SECURE AND PARTICIPATE IN FEDERAL AND STATE OF NJ INVESTMENT TAX CREDITS INCLUDING NEW MARKETS TAX CREDITS, AND OTHER NECESSARY FINANCING. IN FURTHERANCE OF THE AFORESAID PURPOSE, THE CORPORATION MAY EXCERCISE ANY AND ALL POWERS ENUMERATED IN THE NEW JERSEY NON PROFIT CORPORTION ACT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAINTAINS A BOARD OF DIRECTORS, WHICH INCLUDES 5 MEMBERS. 2 MEMBERS ARE EMPLOYED BY THE CUMBERLAND COUNTY IMPROVEMENT AUTHORITY (40%), 2 MEMBERS ARE EMPLOYED BY CUMBERLAND EMPOWERMENT ZONE CORPORATION (40%), AND 1 INDEPEDENT MEMBER (20%). THESE MEMBERS ALL HAVE VOTING POWER TO ELECT OR APPOINT ONE OR MORE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND SHARED WITH MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt09508087
IRS990/TotalAssetsEOYAmt09220166
IRS990/TotalAssetsGrp/BOYAmt09508087
IRS990/TotalAssetsGrp/EOYAmt09220166
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0252067
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0221371
IRS990/TotalFunctionalExpensesGrp/TotalAmt0473438
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010500020
IRS990/TotalLiabilitiesEOYAmt010500020
IRS990/TotalLiabilitiesGrp/BOYAmt010500020
IRS990/TotalLiabilitiesGrp/EOYAmt010500020
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-991933
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1279854
IRS990/TotalProgramServiceExpensesAmt0221371
IRS990/TotalProgramServiceRevenueAmt0185504
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0185517
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0185517
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09508087
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09220166
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0434 E WALNUT RD
IRS990/USAddress/CityNm0VINELAND
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd008360
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DALE JONES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08568253700
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOOD SPECIALIZATION REDEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0FOOD
ReturnHeader/Filer/EIN0822457148
ReturnHeader/Filer/PhoneNum08568253700
ReturnHeader/Filer/USAddress/AddressLine1Txt0745 LEBANON ROAD
ReturnHeader/Filer/USAddress/CityNm0MILLVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd008332
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0222417800
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARTINI & MARTINI CPA P A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01135 E CHESTNUT AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0VINELAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008360
ReturnHeader/PreparerPersonGrp/PhoneNum08566918934
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOMINICK MERIGHI
ReturnHeader/ReturnTs02025-04-28T10:28:57-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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