Civic Intelligence

Food Specialization Redevelopment Corporation

990 • Fiscal year 2020 • EIN 82-2457148

Jan 01, 2020 to Dec 31, 2020 • Filed on Jan 30, 2021

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

1.03x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

56.55x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

17th percentile

-12%

Higher net margin than 17% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

26th percentile

-0.2%

Faster asset growth than 26% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

94th percentile

100%

Faster revenue growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$10,233,330

Down $22,050 (-0.2%) from 2019

Net Assets

Down

-$266,765

Down $22,048 (-9.0%) from 2019

Liabilities

Down

$10,500,095

Down $2 (-0.0%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin17th percentile

Revenue

Up

$185,666

Up $92,618 (+100%) from 2019

Expenses

Down

$207,714

Down $11,576 (-5.3%) from 2019

Net Income

Up

-$22,048

Up $104,194 (+83%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2020

Assets$10,233,330
Liabilities$10,500,095
Net Assets-$266,765
Open 2020 Filing

Operations Trend

Revenue Growth94th 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

2020

Revenue$185,666
Expenses$207,714
Net Income-$22,048
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jan 30, 2021
Return Version
2020v4.0
Gross Receipts
$185,666
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$301,335$290,700▼ $10,635
Savings and Temporary Cash Investments$69,478$58,139▼ $11,339
Loans From Officers Directors$97$95▼ $2
Cash and Non-Interest-Bearing Accounts$97$21▼ $76
Total Assets$10,255,380$10,233,330▼ $22,050
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
Total Liabilities$10,500,097$10,500,095▼ $2
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-244,717$-266,765▼ $22,048
Total Net Assets Fund Balance$-244,717$-266,765▼ $22,048
Total Liabilities and Net Assets / Fund Balance$10,255,380$10,233,330▼ $22,050

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$9,884,470--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$185,504
Investment Income
$162
Other Revenue
$0
Change in Net Assets
$-22,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$207,714
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$10,635--$10,635
Other Expenses$75--$75
Total Functional Expenses$207,714$0$0$207,714
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$97$95▼ $2
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
2021-01-30
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/OriginalPrincipalAmt09884470
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0LESSOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt095
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010255380
IRS990/TotalAssetsEOYAmt010233330
IRS990/TotalAssetsGrp/BOYAmt010255380
IRS990/TotalAssetsGrp/EOYAmt010233330
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0207714
IRS990/TotalFunctionalExpensesGrp/TotalAmt0207714
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010500097
IRS990/TotalLiabilitiesEOYAmt010500095
IRS990/TotalLiabilitiesGrp/BOYAmt010500097
IRS990/TotalLiabilitiesGrp/EOYAmt010500095
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-244717
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-266765
IRS990/TotalProgramServiceExpensesAmt0207714
IRS990/TotalProgramServiceRevenueAmt0185504
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0185666
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0185666
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010255380
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010233330
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEANNINE MACDONALD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08568253700
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-30
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/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/PreparationDt02021-02-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN R MARTINI CPA
ReturnHeader/ReturnTs02021-02-11T13:27:41-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JEANNINE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MACDONALD
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,233,330
Liabilities
$10,500,095
Net assets
-$266,765
Revenue
$185,666
Expenses
$207,714
Net income
-$22,048
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