New Brunswick Development Corporation
- Assets
- $185.9m
- Revenue
- $9.4m
- Investments
- $2.4m
- Employees
- 29
- Location
- New Brunswick, NJ
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 22-2104766
Organization Overview
New Brunswick Development Corporation is located in New Brunswick, NJ. The organization was established in 2019. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, New Brunswick Development Corporation employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Brunswick 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 12/2022, New Brunswick Development Corporation generated $9.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $6.0m during the year ending 12/2022. While expenses have increased by 4.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP THE CITY OF NEW BRUNSWICK AND THE STATE OF NJ INCLUDING THE DEVELOPMENT OF RESIDENTIAL AND COMMERCIAL REAL ESTATE IN A MANNER BENEFICIAL TO THE COMMUNITY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Paladino President | 0 | $603,375 | |
Ira S Novak ESQ Director | 0 | $0 | |
Gilbert H Blitz Director | 0 | $0 | |
Dennis Marco Director | 0 | $0 | |
Vito R Nardelli Vice Chairperson | 0 | $0 | |
William J Quinn Director | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Windels Marx Lane & Mittendorf | 12/30/22 | $183,321 |
Mediacutlet | 12/30/22 | $119,991 |
Conner Strong & Buckelew | 12/30/22 | $349,432 |
Kill The Headlights Llc | 12/30/22 | $257,500 |
Michael Sencindiver Esq | 12/30/22 | $90,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $495,419 |
| Interest on Savings | $165,183 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,745,040 |
| Total Revenue | $9,405,642 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,580,200 |
| Other employee salaries and wages | $1,159,723 |
| Pension plans, employee benefits | $655,853 |
| Interest | $0 |
| Taxes | $145,572 |
| Depreciation | $37,585 |
| Occupancy | $380,379 |
| Travel, conferences, and meetings | $128,615 |
| Printing and publications | $0 |
| Other expenses | $1,452,955 |
| Total operating and administrative expenses | $5,961,058 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $5,961,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,189,206 |
| Savings and temporary cash investments | $2,839,248 |
| Net Accounts receivable | $1,563,188 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $3,258,356 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48,108 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,364,078 |
| Net Land, buildings, and equipment | $110,320 |
| Other assets | $173,575,672 |
| Total assets | $185,948,176 |
| Accounts payable and accrued expenses | $49,174,942 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $115,715,248 |
| Other liabilities | $81,245 |
| Total liabilities | $164,971,435 |