New Brunswick Development Corporation
- Assets
- $160.7m
- Revenue
- $7.2m
- Investments
- $1.8m
- Employees
- 29
- Location
- New Brunswick, NJ
- Founding
- 07/2019
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, New Brunswick Development Corporation generated $7.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $5.0m during the year ending 12/2021. While expenses have increased by 0.6% per year over the past 6 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
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Paladino President | 0 | $596,283 | |
Sarah F Clarke Executive Vice President | 0 | $421,387 | |
Merissa A Buczny Vice President | 0 | $389,543 | |
Glen Sofo Treasurer | 0 | $218,126 | |
Robert Mcculley Sr. Project Manager | 40 | $173,927 | |
Garrett Blitz Sr. Project Manager | 40 | $122,964 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Windels Marx Lane & Mittendorf | 12/30/21 | $136,452 |
Mediacutlet | 12/30/21 | $164,284 |
Central Jersey Contracting | 12/30/21 | $57,973 |
Michael Sencindiver Esq | 12/30/21 | $90,000 |
Withum Smith Brown | 12/30/21 | $72,253 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $935,467 |
| Interest on Savings | $142,360 |
| 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 | $6,100,129 |
| Total Revenue | $7,177,956 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,625,339 |
| Other employee salaries and wages | $811,033 |
| Pension plans, employee benefits | $482,564 |
| Interest | $0 |
| Taxes | $115,722 |
| Depreciation | $32,373 |
| Occupancy | $336,563 |
| Travel, conferences, and meetings | $72,780 |
| Printing and publications | $0 |
| Other expenses | $1,102,215 |
| Total operating and administrative expenses | $5,020,917 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $5,020,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,733,960 |
| Savings and temporary cash investments | $2,540,581 |
| Net Accounts receivable | $348,915 |
| 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 | $52,393 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,845,473 |
| Net Land, buildings, and equipment | $64,718 |
| Other assets | $150,850,636 |
| Total assets | $160,695,032 |
| Accounts payable and accrued expenses | $19,874,169 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $123,207,461 |
| Other liabilities | $81,245 |
| Total liabilities | $143,162,875 |
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|---|---|---|
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Ahavat Yisroel Humanity Inc Brooklyn, NY | $8,284,254 | $21,769,721 |
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Dr Gertrude A Barber In Home Services Inc Erie, PA | $4,360,447 | $17,320,654 |
Ao North America Inc Wayne, PA | $10,460,064 | $15,724,733 |
Pro Action Of Steuben And Yates Inc Bath, NY | $5,623,306 | $16,689,499 |
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Fayette County Community Action Agency Inc Uniontown, PA | $17,552,329 | $15,219,318 |