Vineland Development Corporation
- Assets
- $88.1m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Vineland, NJ
- Founding
- 09/2007
- Data as of
- 06/2024
- 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 06/2024, Vineland Development Corporation generated $5.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2024. 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
2024
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 |
|---|---|---|---|
Anthony Fanucci Trustee | Trustee | 1 | $0 |
Cosmo Giovinazzi Trustee | Trustee | 1 | $0 |
Paul Spinelli Trustee | Trustee | 1 | $0 |
Donata Dalesandro Trustee | Trustee | 1 | $0 |
Safee Chaudhri Trustee | Trustee | 1 | $0 |
Victor Villar 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 | $3,784,203 |
| Investment income | $855,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $210,810 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,209,328 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $89,419 |
| 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 | $134,581 |
| Fees for services: Accounting | $13,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,514 |
| Advertising and promotion | $136,541 |
| Office expenses | $18,546 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,641 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,972 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $949 |
| Insurance | $24,562 |
| All other expenses | $84,033 |
| Total functional expenses | $1,356,657 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,590,392 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,464 |
| Loans from Officers, Directors, or Controlling Persons | $360,355 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $60,059,565 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,633 |
| Net Land, buildings, and equipment | $11,923,794 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,000,000 |
| Intangible assets | $0 |
| Other assets | $129,459 |
| Total assets | $88,091,662 |
| Accounts payable and accrued expenses | $297,304 |
| Grants payable | $0 |
| Deferred revenue | $2,900,000 |
| 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 | $463,528 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,660,832 |
| Net assets without donor restrictions | $84,430,830 |
| 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 | $88,091,662 |
Grants Awarded
Over the last fiscal year, Vineland Development Corporation has awarded $627,878 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VINELAND DOWNTOWN IMPROVEMENT DISTRICT PURPOSE: marketing | $62,150 |
CITY OF VINELAND INDUSTRIAL COMMISSION PURPOSE: redevelopment | $5,891 |
CITY OF VINELAND PURPOSE: land acquisition | $559,837 |