Civic Intelligence

Visions Economic Development Inc.

EIN 87-0753394 • 501(c)3 • Newark, NJ

Pub. 78 Eligible990-N CoverageNTEE S20

Profile

Vision Economic Development, Inc. is not for profit real estate holding business that is organized to develop and manage properties in the Newark and surrounding communities.Vision will assist in community advancement, entrepreneurship/business start-up support, educational opportunities, financial/economic literacy and/or outreach efforts.

588 Dr Martin Luther King BlvdNewark, NJ 07102
Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

$22,950

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Net Assets

$22,950

No earlier filing loaded for comparison.

Operations

Revenue

$58,532

No earlier filing loaded for comparison.

Expenses

$35,582

No earlier filing loaded for comparison.

Net Income

$22,950

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

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

$30K$20K$10K$0Assets 2022: $22,950Liabilities 2022: $0Net Assets 2022: $22,9502022

Highlighted filing

2022

Assets$22,950
Liabilities$0
Net Assets$22,950
Open 2022 Filing

Operations Trend

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

$60K$40K$20K$0Revenue 2022: $58,532Expenses 2022: $35,582Net Income 2022: $22,9502022

Highlighted filing

2022

Revenue$58,532
Expenses$35,582
Net Income$22,950
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,950
Liabilities
$0
Net assets
$22,950
Revenue
$58,532
Expenses
$35,582
Net income
$22,950
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$23.0$0.00$23.0$58.5$35.6$23.0
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 17, 2024
Return Version
2022v5.0
Gross Receipts
$58,532
Mission and Program Overview

Mission

Vision Economic Development, Inc. is not for profit real estate holding business that is organized to develop and manage properties in the Newark and surrounding communities.Vision will assist in community advancement, entrepreneurship/business start-up support, educational opportunities, financial/economic literacy and/or outreach efforts.

Vision Economic Development, Inc. is not for profit real estate holding business that is organized to develop and manage properties in the Newark and surrounding communities.Vision will assist in community advancemen

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$22,950-
Rtn Earn Endowment Incm Other Fnds-$22,950-
Total Assets$0$22,950▲ $22,950
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$22,950▲ $22,950
Total Liabilities and Net Assets / Fund Balance$0$22,950▲ $22,950
Compensation and Service Providers

Board Members and Trustees

NameTitle
Garvey InceChairman
Brian TalmadgeBoard Member
Sam SneadBoard member
William ParrishBoard Member
Carl PetermanSecretary
Carolyn WhighamTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$58,532
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$22,950
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,582
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
Other Expenses$1,500--$1,500
Total Functional Expenses$35,582$0$0$35,582
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Visions Economic Development Inc
EIN
87-0753394
In Care Of
% Garvey Ince
Phone
2015721985
Address
588 DR MARTIN LUTHER KING BLVD, Newark, NJ 07102

Signing Officer

Name
Garvey Ince
Title
CEO
Phone
2015721985
Signed
2024-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Garvey Ince
Formed
2014
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
Tumasang J Awundaga & Associates CPA
Address
312 Northfield Avenue, West Orange, NJ 07052
Preparer
Tumasang J Awundaga
Phone
9735181595
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Section 1V, Line 19

“Upon request government documents, conflict of interest policies and financial records are available to the public”

Form 990, Part V, Line 12C

“The organization monitors conflict of interest policies”

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