Vineland Development Corporation
- Assets
- $77.4m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Vineland, NJ
- Founding
- 09/2007
- Data as of
- 06/2022
- EIN
- 20-5188780
Organization Overview
Vineland Development Corporation is located in Vineland, NJ. The organization was established in 2007. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vineland Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Vineland Development Corporation generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST IN THE REVITALIZATION AND REDEVELOPMENT OF THE CITY OF VINELAND, ENCOURAGE PRIVATE INVESTMENT, AND ASSIST IN ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LOANS AND OTHER INCENTIVES FOR ECONOMIC GROWTH AND DEVELOPMENT IN THE CITY OF VINELAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Fiocchi Trustee | Trustee | 1 | $0 |
Cosmo Giovinazzi Trustee | Trustee | 1 | $0 |
Antony Thomas Trustee | Trustee | 1 | $0 |
Safee Chaudhri Trustee | Trustee | 1 | $0 |
Anthony Fanucci Trustee | Trustee | 1 | $0 |
Paul Spinelli Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,973,597 |
| Investment income | $83,936 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $252,075 |
| Net Gain/Loss on Asset Sales | $289,025 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,743,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $627,878 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $158,493 |
| Advertising and promotion | $169,440 |
| Office expenses | $95,029 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,046 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,216 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $126,699 |
| Insurance | $21,414 |
| All other expenses | $8,505 |
| Total functional expenses | $1,816,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,452,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,022 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $55,640,476 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,644 |
| Net Land, buildings, and equipment | $10,207,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $108,633 |
| Total assets | $77,427,016 |
| Accounts payable and accrued expenses | $285,504 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $513,077 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $798,581 |
| Net assets without donor restrictions | $76,628,435 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $77,427,016 |
Grants Awarded
Over the last fiscal year, Vineland Development Corporation has awarded $627,878 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF VINELAND PURPOSE: land acquisition | $559,837 |
Vineland, NJ PURPOSE: marketing | $62,150 |
CITY OF VINELAND INDUSTRIAL COMMISSION PURPOSE: redevelopment | $5,891 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vineland Development Corporation has recieved totaling $155,373.
| Awarding Organization | Amount |
|---|---|
Enterprise Zone Development Corp Of Vineland And Millville Vineland, NJ PURPOSE: econ dev | $155,373 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Opportunity Council Of Suffolk Inc Patchogue, NY | $6,210,341 | $18,971,000 |
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Integrated Community Alternatives Network Inc Utica, NY | $14,279,832 | $19,265,883 |
Northern Manhattan Improvement Corp New York, NY | $8,451,430 | $18,004,122 |
Pennreach Allentown, NJ | $5,187,786 | $15,924,501 |
Chautauqua Opportunities Inc Dunkirk, NY | $6,065,142 | $15,802,051 |
Commission On Economic Opportunity For The Rensselaer County Area Inc Troy, NY | $18,234,515 | $14,616,169 |
Phipps Neighborhoods Inc New York, NY | $46,342,034 | $30,198,997 |
Delaware Opportunities Inc Hamden, NY | $6,012,612 | $14,102,184 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Painters District Council No 4 S U B Fund Cheektowaga, NY | $33,742,384 | $15,066,465 |
Economic Opportunity Commission Of Nassau County Inc Hempstead, NY | $10,306,992 | $13,197,438 |