Civic Intelligence

Food Specialization Redevelopment Corporation

990 • Fiscal year 2019 • EIN 82-2457148

Jan 01, 2019 to Dec 31, 2019 • Filed on Feb 06, 2020

Organization ProfileN/A
745 Lebanon RoadMillville, NJ 08332

(856) 825-3700

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.02x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

100th percentile

112.85x

Higher debt load relative to revenue than 100% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

2nd percentile

-136%

Higher net margin than 2% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

7th percentile

-11%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

100th percentile

21439%

Faster revenue growth than 100% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$10,255,380

Down $1,267,751 (-11%) from 2018

Net Assets

Down

-$244,717

Down $126,242 (-107%) from 2018

Liabilities

Down

$10,500,097

Down $1,141,509 (-9.8%) from 2018

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin2nd percentile

Revenue

Up

$93,048

Up $92,616 (+21439%) from 2018

Expenses

Up

$219,290

Up $100,383 (+84%) from 2018

Net Income

Down

-$126,242

Down $7,767 (-6.6%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$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

2019

Assets$10,255,380
Liabilities$10,500,097
Net Assets-$244,717
Open 2019 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$93,048
Expenses$219,290
Net Income-$126,242
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Feb 6, 2020
Return Version
2019v5.0
Gross Receipts
$93,048
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
Intangible Assets$311,971$301,335▼ $10,636
Savings and Temporary Cash Investments$92,182$69,478▼ $22,704
Cash and Non-Interest-Bearing Accounts$1,234,508$97▼ $1,234,411
Loans From Officers Directors$516,606$97▼ $516,509
Total Assets$11,523,131$10,255,380▼ $1,267,751
Other Assets Total$9,884,470$9,884,470→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,500,000$10,500,000→ $0
Accounts Payable and Accrued Expenses$625,000--
Total Liabilities$11,641,606$10,500,097▼ $1,141,509
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-118,475$-244,717▼ $126,242
Total Net Assets Fund Balance$-118,475$-244,717▼ $126,242
Total Liabilities and Net Assets / Fund Balance$11,523,131$10,255,380▼ $1,267,751

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$9,884,470--
Compensation and Service Providers
Top Officer Pay13th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$92,752
Investment Income
$296
Other Revenue
$0
Change in Net Assets
$-126,242
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$219,290
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
Interest$185,504--$185,504
Depreciation Depletion$10,636--$10,636
Other Expenses$150--$150
Total Functional Expenses$219,290$0$0$219,290
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$516,606$97▼ $516,509
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
Jeannine Macdonald
Title
Executive Director
Phone
8568253700
Signed
2020-02-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert P Nedohon Jr
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
John R Martini CPA
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.”

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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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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0LOAN FOR BUILDING
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt09884470
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0LESSOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt097
IRS990/ScheduleORequiredInd0true
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/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011523131
IRS990/TotalAssetsEOYAmt010255380
IRS990/TotalAssetsGrp/BOYAmt011523131
IRS990/TotalAssetsGrp/EOYAmt010255380
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0219290
IRS990/TotalFunctionalExpensesGrp/TotalAmt0219290
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011641606
IRS990/TotalLiabilitiesEOYAmt010500097
IRS990/TotalLiabilitiesGrp/BOYAmt011641606
IRS990/TotalLiabilitiesGrp/EOYAmt010500097
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-118475
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-244717
IRS990/TotalProgramServiceExpensesAmt0219290
IRS990/TotalProgramServiceRevenueAmt092752
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt093048
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt093048
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011523131
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010255380
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt016 STERLING PLACE
IRS990/USAddress/CityNm0MILLVILLE
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd008332
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEANNINE MACDONALD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08568253700
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-06
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0A2765C90B9A4C3BF5298F99FEEBFEB835EEBB70D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A2765C90B9A4C3BF5298F99FEEBFEB835EEBB70D
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0108.24.40.49
ReturnHeader/FilingSecurityInformation/IPDt02020-03-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:56:25
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/PreparationDt02020-02-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN R MARTINI CPA
ReturnHeader/ReturnTs02020-03-06T13:56:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,255,380
Liabilities
$10,500,097
Net assets
-$244,717
Revenue
$93,048
Expenses
$219,290
Net income
-$126,242
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