Special Improvement District Borough Of Redbank Inc is located in Red Bank, NJ. The organization was established in 1993. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Special Improvement District Borough Of Redbank Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Special Improvement District Borough Of Redbank Inc 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, Special Improvement District Borough Of Redbank Inc generated $734.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $589.4k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RED BANK RIVERCENTER IS THE MANAGEMENT ORGANIZATION FOR THE ENTIRE DOWNTOWN BUSINESS DISTRICT. IT MANAGES BUSINESS RECRUITMENT, PROMOTIONAL EVENTS AND CAPITAL PROJECTS IN ADDITION TO BUSINESS ASSISTANCE AND WORK WITH THE BOROUGH OF RED BANK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS RECRUITMENT AND RETENTION:IN ADDITION TO ADVERTISING IN PRINT AND ON LINE, RIVERCENTER SPENT COUNTLESS HOURS CONNECTING POTENTIAL RED BANK BUSINESSES WITH OUR LOCAL REALTORS, BUILDING OWNERS, BUSINESS OWNERS AND OTHER MOVERS AND SHAKERS IN TOWN. DESPITE THE IMPACT OF THE PANDEMIC AND A NUMBER OF VACANCIES IT BROUGHT, OTHERS SAW 2021 AS AN OPPORTUNITY TO START UP IN A VIBRANT TOWN AND WE HELPED SMOOTH THEIR WAY. WE PROVIDED TIMELY INFORMATION ABOUT RAPIDLY CHANGING RESTRICTIONS ON THEIR OPERATIONS AS WELL AS AVAILABLE AID. FINALLY, AS IN 2020, WE WORKED WITH LOCAL AUTHORITIES TO ENABLE RESTAURANTS AND RETAILERS TO EXPAND THEIR BUSINESSES OUTDOORS, MAXIMIZING THEIR TRADE WHILE STILL OBSERVING ALL SAFETY REGULATIONS. SEE MORE DETAILS IN SCHEDULE O.
CAPITAL IMPROVEMENTS, DESIGN AND INFRASTRUCTURE: IN 2021 RIVERCENTER FOCUSED ON DESIGN ELEMENTS THAT HELPED BUSINESSES IN OUR DOWNTOWN TO CONTINUE TO SERVE THEIR CUSTOMERS IN COMPLIANCE WITH SOCIAL DISTANCING RESTRICTIONS DUE TO THE ONGOING COVID-19 PANDEMIC. WE PROVIDED ATTRACTIVE SIGNAGE TO CREATE TO CREATE SPECIAL CURBSIDE PICKUP ZONES WHEN NEEDED,LIGHTING FOR OUTDOOR DINING PAVILIONS IN OUR DOWNTOWN STREETS, AND RAN OUR SUMMER HORTICULTURE PROGRAM, WHICH FILLS THE TOWN WITH COLORFUL POTTED PLANTS AND HANGING BASKETS. DURING THE WINTER WE FESTOONED THE TOWN WITH HOLIDAY LIGHTS AND SECURED A 40 FOOT TREE FROM A LOCAL DONOR AND PLACED IT IN RIVERSIDE GARDENS PARK. MORE DETAILS CAN BE FOUND IN SCHEDULE O.
MARKETING AND PROMOTIONS: THE ONGOING PANDEMIC REQUIRED US TO REINVENT THE WAY WE PROMOTED OUR BUSINESSES. DURING THE FIRST QUARTER, BEFORE VACCINES WERE WIDELY AVAILABLE AND BUSINESSES COULD SERVE ONLY LIMITED CUSTOMERS INDOORS, WE FOCUSED ON REMINDING OR USUAL PATRONS THAT WE WERE STILL HERE AND THAT OUR MANY RESTAURANTS WERE OFFERING ONLINE ORDERS AND CONTACTLESS, CURBSIDE PICKUP. WE REPEATED OUR SUCCESSFUL "DATE NIGHT IN" PROGRAM THAT OFFERED CURATED PACKAGES OF FOOD, FLOWERS, CANDLES AND OTHER AMENITIES ON FRIDAY NIGHTS. THIS ENABLED "NON-ESSENTIAL" BUSINESSES TO SELL THEIR WARES ALONG WITH TAKEOUT MEALS OFFERED BY RESTAURANTS WHO WERE PERMITTED TO BE OPEN. LATER IN THE YEAR, WHEN THINGS OPENED UP A BIT, WE BEGAN TO PROMOTE RED BANK AS A GREAT PLACE FOR A DAY TRIP TO ENJOY A MEAL OUTDOORS IN A SAFE ENVIRONMENT. THE MESSAGE WAS SHOP LOCAL, SHOP SMALL.MORE DETAILS CAN BE FOUND IN SCHEDULE O.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Laura Kirkpatrick Exec. Director | 40 | $34,226 | |
Glenn Carter Executive Director | 40 | $31,392 | |
Mary Demont Secretary | OfficerTrustee | 2 | $0 |
Samantha Bowers-Crader Chairman | OfficerTrustee | 2 | $0 |
Lauren Dezzi Treasurer | OfficerTrustee | 2 | $0 |
Adam Phillipson Vice Chair | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $39,974 |
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 | $39,974 |
Total Program Service Revenue | $643,529 |
Investment income | $420 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $50,722 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $734,645 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $65,618 |
Compensation of current officers, directors, key employees. | $32,809 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $126,016 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $13,199 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $4,900 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $72,666 |
Office expenses | $11,632 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $36,000 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $2,272 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,635 |
Insurance | $10,274 |
All other expenses | $61,812 |
Total functional expenses | $589,448 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $253,340 |
Savings and temporary cash investments | $257,620 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,870 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $17,832 |
Net Land, buildings, and equipment | $3,841 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $535,503 |
Accounts payable and accrued expenses | $21,539 |
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 | $596,372 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $617,911 |
Net assets without donor restrictions | -$82,408 |
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 | $535,503 |
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