NEW BRUNSWICK DEVELOPMENT CORPORATION: Form 990PF, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- NEW BRUNSWICK DEVELOPMENT CORPORATION (EIN 22-2104766)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-14
- IRS object ID
- 202213189349105241
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Schedule B
- Accounting Fees Schedule
- Depreciation Schedule
- Investments Other Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Liabilities Schedule
- Other Notes Loans Rcvbl Long Sch
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-11-14T15:16:44-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WithumSmithBrown PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE TOWER CENTER BLVD 14TH FL | AddressLine1Txt |
| City | EAST BRUNSWICK | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08816 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 222104766 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | New Brunswick Development Corporation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % GLEN SOFO | InCareOfNm |
| Business Name Control | NEWB | BusinessNameControlTxt |
| Phone | 7322492220 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 Albany Street 7th Floor | AddressLine1Txt |
| City | New Brunswick | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08901 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Christopher J Paladino | PersonNm |
| Person Title | President | PersonTitleTxt |
| Phone | 7322492220 | PhoneNum |
| Signature | 2022-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Christopher J | PersonFirstNm |
| Person Last | Paladino | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | James Decker | PreparerPersonNm |
| PTIN | P00039958 | PTIN |
| Phone | 7328281614 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $160,695,032 | FMVAssetsEOYAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rcvd Rev And Expnss | $935,467 | ContriRcvdRevAndExpnssAmt |
| Interest On Sav Rev And Expnss | $142,360 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $142,360 | InterestOnSavNetInvstIncmAmt |
| Interest On Savings Adj Net Incm | $142,360 | InterestOnSavingsAdjNetIncmAmt |
| Other Income Rev And Expnss | $6,100,129 | OtherIncomeRevAndExpnssAmt |
| Other Income Adj Net Incm | $6,100,129 | OtherIncomeAdjNetIncmAmt |
| Total Rev And Expnss | $7,177,956 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $142,360 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $6,242,489 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $1,625,339 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Adj Net Incm | $1,625,339 | CompOfcrDirTrstAdjNetIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $1,625,339 | CompOfcrDirTrstDsbrsChrtblAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $811,033 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Adj Net Incm | $811,033 | OthEmplSlrsWgsAdjNetIncmAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $811,033 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $482,564 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Adj Net Incm | $482,564 | PensionEmplBnftAdjNetIncmAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $482,564 | PensionEmplBnftDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $77,184 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $0 | LegalFeesNetInvstIncmAmt |
| Legal Fees Adj Net Incm | $77,184 | LegalFeesAdjNetIncmAmt |
| Legal Fees Dsbrs Chrtbl | $40,688 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $72,253 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $0 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Adj Net Incm | $72,253 | AccountingFeesAdjNetIncmAmt |
| Accounting Fees Chrtbl Prps | $72,253 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $292,891 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Adj Net Incm | $292,891 | OtherProfFeesAdjNetIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $292,891 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $115,722 | TaxesRevAndExpnssAmt |
| Taxes Adj Net Incm | $115,722 | TaxesAdjNetIncmAmt |
| Taxes Dsbrs Chrtbl | $115,722 | TaxesDsbrsChrtblAmt |
| Deprec And Dpltn Rev And Expnss | $32,373 | DeprecAndDpltnRevAndExpnssAmt |
| Deprec And Dpltn Adj Net Incm | $32,373 | DeprecAndDpltnAdjNetIncmAmt |
| Occupancy Rev And Expnss | $336,563 | OccupancyRevAndExpnssAmt |
| Occupancy Adj Net Incm | $336,563 | OccupancyAdjNetIncmAmt |
| Occupancy Dsbrs Chrtbl | $348,086 | OccupancyDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $72,780 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Adj Net Incm | $72,780 | TravConfMeetingAdjNetIncmAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $72,780 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $1,102,215 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $142,360 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Adj Net Incm | $959,855 | OtherExpensesAdjNetIncmAmt |
| Other Expenses Dsbrs Chrtbl | $1,103,315 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $5,020,917 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $142,360 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $4,878,557 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $4,964,671 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $0 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $0 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $5,020,917 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $142,360 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $4,878,557 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $4,964,671 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $2,157,039 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $0 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $1,363,932 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $1,577,380 | CashBOYAmt |
| Cash EOY | $1,733,960 | CashEOYAmt |
| Cash EOYFMV | $1,733,960 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $1,869,674 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $2,540,581 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $2,540,581 | SavAndTempCashInvstEOYFMVAmt |
| Acct Rcvbl | $348,915 | AcctRcvblAmt |
| Acct Rcvbl BOY | $229,958 | AcctRcvblBOYAmt |
| Acct Rcvbl EOY | $348,915 | AcctRcvblEOYAmt |
| Acct Rcvbl EOYFMV | $348,915 | AcctRcvblEOYFMVAmt |
| Other Nts And Loans Rcvbl | $3,258,356 | OtherNtsAndLoansRcvblAmt |
| Other Nts And Loans Rcvbl BOY | $3,258,356 | OtherNtsAndLoansRcvblBOYAmt |
| Other Nts And Loans Rcvbl EOY | $3,258,356 | OtherNtsAndLoansRcvblEOYAmt |
| Other Nts And Loans Rcvbl EOYFMV | $3,258,356 | OtherNtsAndLoansRcvblEOYFMVAmt |
| Prepaid Expenses BOY | $73,194 | PrepaidExpensesBOYAmt |
| Prepaid Expenses EOY | $52,393 | PrepaidExpensesEOYAmt |
| Prepaid Expenses EOYFMV | $52,393 | PrepaidExpensesEOYFMVAmt |
| Other Investments BOY | $1,841,748 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $1,845,473 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $1,845,473 | OtherInvestmentsEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $300,012 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $235,294 | LandBldgEquipAccumDeprecAmt |
| Land BOY | $46,173 | LandBOYAmt |
| Land EOY | $64,718 | LandEOYAmt |
| Land EOYFMV | $64,718 | LandEOYFMVAmt |
| Other Assets BOY | $94,219,171 | OtherAssetsBOYAmt |
| Other Assets EOY | $150,850,636 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $150,850,636 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $103,115,654 | TotalAssetsBOYAmt |
| Total Assets EOY | $160,695,032 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $160,695,032 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $12,249,244 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $19,874,169 | AccountsPayableEOYAmt |
| Mortgages And Notes Payable BOY | $75,419,674 | MortgagesAndNotesPayableBOYAmt |
| Mortgages And Notes Payable EOY | $123,207,461 | MortgagesAndNotesPayableEOYAmt |
| Other Liabilities BOY | $71,618 | OtherLiabilitiesBOYAmt |
| Other Liabilities EOY | $81,245 | OtherLiabilitiesEOYAmt |
| Total Liabilities BOY | $87,740,536 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $143,162,875 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $15,375,118 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $17,532,157 | NoDonorRstrNetAssestsEOYAmt |
| Donor Rstr Net Assets BOY | $0 | DonorRstrNetAssetsBOYAmt |
| Donor Rstr Net Assets EOY | $0 | DonorRstrNetAssetsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $15,375,118 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $17,532,157 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $103,115,654 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $160,695,032 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $15,375,118 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $2,157,039 | ExcessRevenueOverExpensesAmt |
| Subtotal | $17,532,157 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $17,532,157 | TotNetAstOrFundBalancesEOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cap Gains Loss Tx Invst Incm Detail | CapGainsLossTxInvstIncmDetail |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $0 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $0 | SubtotalAmt |
| Tax Based On Investment Income | $0 | TaxBasedOnInvestmentIncomeAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Total Payments And Credits | $0 | TotalPaymentsAndCreditsAmt |
| Tax Due | $0 | TaxDueAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | NJ | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | Yes (true) | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | www.devco.org | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GLEN SOFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7322492220 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 ALBANY ST 7TH FLR | AddressLine1Txt |
| City | New Brunswick | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (14 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| CHRISTOPHER J PALADINO | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | PRESIDENT | 0 | $596,283 | $128,185 | $0 |
| IRA S NOVAK esq | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | DIRECTOR | 0 | $0 | $0 | $0 |
| GILBERT H BLITZ | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | DIRECTOR | 0 | $0 | $0 | $0 |
| DENNIS MARCO | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | DIRECTOR | 0 | $0 | $0 | $0 |
| VITO R NARDELLI | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | VICE CHAIRPERSON | 0 | $0 | $0 | $0 |
| WILLIAM j QUINN | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | DIRECTOR | 0 | $0 | $0 | $0 |
| DAVID G SCIARRA ESQ | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | DIRECTOR | 0 | $0 | $0 | $0 |
| GEORGE R ZOFFINGER | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | CHAIRMAN | 0 | $0 | $0 | $0 |
| AMY MANSUE | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | director | 0 | $0 | $0 | $0 |
| SERGIO IACOVITTI | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | DIRECTOR | 0 | $0 | $0 | $0 |
| Merissa A Buczny | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | VICE PRESIDENT | 0 | $389,543 | $55,133 | $0 |
| Sarah F Clarke | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | Executive Vice President | 0 | $421,387 | $62,701 | $0 |
| STAN KOSIEROWSKI | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | DIRECTOR | 0 | $0 | $0 | $0 |
| GLEN SOFO | ||||||||
| 120 Albany Street 7th Floor | New Brunswick | NJ | 08901 | TREASURER | 0 | $218,126 | $31,668 | $0 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee BenefitsEmployeeBenefitsAmt |
|---|---|---|---|---|---|---|---|
| ROBERT MCCULLEY | |||||||
| 120 ALBANY STREET | NEW BRUNSWICK | NJ | 08901 | SR. PROJECT MANAGER | 40.0 | $173,927 | $0 |
| GARRETT BLITZ | |||||||
| 120 ALBANY STREET | NEW BRUNSWICK | NJ | 08901 | SR. PROJECT MANAGER | 40.0 | $122,964 | $27,074 |
| JEAN HOLTZ | |||||||
| 120 ALBANY STREET | NEW BRUNSWICK | NJ | 08901 | DEVELOPMENT ASSOC. | 40.0 | $92,660 | $33,648 |
| DALE SCHWEBEL | |||||||
| 120 ALBANY STREET | NEW BRUNSWICK | NJ | 08901 | DEVELOPMENT ASSOC. | 40.0 | $64,334 | $0 |
| ROBIN IANTOSCA | |||||||
| 120 ALBANY STREET | NEW BRUNSWICK | NJ | 08901 | DEVELOPMENT ASSOC. | 40.0 | $72,594 | $30,317 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (5 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| WINDELS MARX LANE & MITTENDORF | |||||
| 120 ALBANY STREET TOWER 1 SUITE 6 | NEW BRUNSWICK | NJ | 08901 | LEGAL | $136,452 |
| MEDIACUTLET | |||||
| 3 WHITE STREET SUITE 1 | RED BANK | NJ | 07701 | PUBLIC RELATIONS | $164,284 |
| CENTRAL JERSEY CONTRACTING | |||||
| 1008 LOVELL PLACE | NEW BRUNSWICK | NJ | 08902 | MAINTENANCE | $57,973 |
| Withum Smith Brown | |||||
| PO Box 5340 | PRINCETON | NJ | 08543 | accounting | $72,253 |
| MICHAEL SENCINDIVER ESQ | |||||
| 717 MAIN STREET | RIVERTON | NJ | 08077 | CONSULTING | $90,000 |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | 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. | Description1Txt |
| Expenses1 | $4,964,671 | Expenses1Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sum Of Program Related Invst | SumOfProgramRelatedInvstGrp |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $0 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $2,938,618 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $2,938,618 | TotalFMVOfUnusedAssetsAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $2,938,618 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $44,079 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $2,894,539 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $144,727 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sect4942j3j5 Fndtn And Frgn Org | Yes (X) | Sect4942j3j5FndtnAndFrgnOrgInd |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $4,964,671 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Charitable Assets Acquis Paid | $0 | CharitableAssetsAcquisPaidAmt |
| Set Aside Suitability Test | $0 | SetAsideSuitabilityTestAmt |
| Set Aside Cash Distri Test | $0 | SetAsideCashDistriTestAmt |
| Qualifying Distributions | $4,964,671 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $0 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $0 | UndistributedIncomePYAmt |
| Prior Year1 | 2019 | PriorYear1Yr |
| Prior Year2 | 2018 | PriorYear2Yr |
| Prior Year3 | 2017 | PriorYear3Yr |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Excess Distribution Cyov Yr3 | $4,518,776 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $5,053,987 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $4,899,210 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $14,471,973 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $4,964,671 | QualifyingDistributionsAmt |
| Applied To Year1 | $0 | AppliedToYear1Amt |
| Remaining Distri From Corpus | $4,964,671 | RemainingDistriFromCorpusAmt |
| Total Corpus | $19,436,644 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov To Next Yr | $19,436,644 | ExcessDistriCyovToNextYrAmt |
| Excess From Year3 | $4,518,776 | ExcessFromYear3Amt |
| Excess From Year2 | $5,053,987 | ExcessFromYear2Amt |
| Excess From Year1 | $4,899,210 | ExcessFromYear1Amt |
| Excess From Current Year | $4,964,671 | ExcessFromCurrentYearAmt |
Private Operating Foundations PrivateOperatingFoundationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Section4942j3 | Yes (X) | Section4942j3Ind |
Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $0 | CurrentYearAmt |
| Year1 | $0 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $0 | TotalAmt |
Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $0 | CurrentYearAmt |
| Year1 | $0 | Year1Amt |
| Year2 | $0 | Year2Amt |
| Year3 | $0 | Year3Amt |
| Total | $0 | TotalAmt |
Qualifying Distributions QualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $4,964,671 | CurrentYearAmt |
| Year1 | $4,899,210 | Year1Amt |
| Year2 | $5,053,987 | Year2Amt |
| Year3 | $4,518,776 | Year3Amt |
| Total | $19,436,644 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Qualifying Distri Not Used Drt | QualifyingDistriNotUsedDrtGrp |
Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $4,964,671 | CurrentYearAmt |
| Year1 | $4,899,210 | Year1Amt |
| Year2 | $5,053,987 | Year2Amt |
| Year3 | $4,518,776 | Year3Amt |
| Total | $19,436,644 | TotalAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $160,695,032 | CurrentYearAmt |
| Year1 | $103,115,654 | Year1Amt |
| Year2 | $302,960,190 | Year2Amt |
| Year3 | $311,545,195 | Year3Amt |
| Total | $878,316,071 | TotalAmt |
Total Assets Sect4942j3 Bi TotalAssetsSect4942j3BiGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $160,695,032 | CurrentYearAmt |
| Year1 | $103,115,654 | Year1Amt |
| Year2 | $302,960,190 | Year2Amt |
| Year3 | $311,545,195 | Year3Amt |
| Total | $878,316,071 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Two Thirds Minimum Invst Ret | TwoThirdsMinimumInvstRetGrp |
Total Support TotalSupportGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Public Support Type PublicSupportType
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Largest Support From EO LargestSupportFromEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Gross Investment Income GrossInvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | NA | ContributingManagerNm |
| Shareholder Manager | NA | ShareholderManagerNm |
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Program Service Revenue Dtl ProgramServiceRevenueDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MANAGEMENT & DEV. FEES | Desc |
| Business | 531110 | BusinessCd |
| Related Or Exempt Function Incm | $6,100,129 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees Contracts From Govt Ag | FeesContractsFromGovtAgGrp | |
| Membership Dues And Assmnt | MembershipDuesAndAssmntGrp |
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $142,360 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Dividends And Interest From Sec Dtl | DividendsAndInterestFromSecDtl | |
| Net Rntl Incm Re Debt Fincd Prop | NetRntlIncmReDebtFincdPropGrp | |
| Net Rntl Incm Re Not Debt Fincd Prop | NetRntlIncmReNotDebtFincdProp | |
| Net Rental Income Personal Prop | NetRentalIncomePersonalPropGrp | |
| Other Investment Income | OtherInvestmentIncomeGrp | |
| Gain Sales Ast Oth Than Invntry | GainSalesAstOthThanInvntryGrp | |
| Net Income Loss From Special Evt | NetIncomeLossFromSpecialEvtGrp | |
| Gross Profit Loss Sls Of Invntry | GrossProfitLossSlsOfInvntryGrp |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $142,360 | ExclusionAmt |
| Related Or Exempt Function Incm | $6,100,129 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $6,242,489 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Schedule B IRS990ScheduleB
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c | Yes (X) | Organization501cInd |
| General Rule | Yes (X) | GeneralRuleInd |
Contributor Information ContributorInformationGrp (2 entries)
| ContributorContributorNum | Address Line1ContributorUSAddress/AddressLine1Txt | CityContributorUSAddress/CityNm | State AbbreviationContributorUSAddress/StateAbbreviationCd | ZIPContributorUSAddress/ZIPCd | Total ContributionsTotalContributionsAmt | Person ContributionPersonContributionInd |
|---|---|---|---|---|---|---|
| ROBERT WOOD JOHNSON FOUNDATION | ||||||
| 1 | COLLEGE ROAD AND ROUTE 1 PO BOX | Princeton | NJ | 08543 | $498,230 | Yes (X) |
| us small business administration | ||||||
| 2 | 409 3rd st sw | washington | DC | 20416 | $437,237 | Yes (X) |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ACCOUNTING/AUDIT FEES | CategoryTxt |
| Amt | $72,253 | Amt |
| Adjusted Net Income | $72,253 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $72,253 | DisbursementsCharitablePrpsAmt |
Depreciation Schedule DepreciationSchedule
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (19 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| INVESTMENT IN CS II | AT COST | $100 | $100 |
| INVESMENT IN CS III | AT COST | $100 | $100 |
| INVESTMENT IN CS IV | AT COST | $100 | $100 |
| INVESTMENT IN LOWER GEORGE ST | AT COST | $100 | $100 |
| INVESTMENT IN CHILD HEALTH INS | AT COST | $100 | $100 |
| INVEST IN STUDENT HOUSING DEVE | AT COST | $100 | $100 |
| INVEST IN UNIVERSITY HOUSING | AT COST | $100 | $100 |
| INVESTMENT IN TRANSIT VILLAGE | AT COST | $1,843,961 | $1,843,961 |
| FERREN URBAN RENEWAL ASSOC. | AT COST | $100 | $100 |
| SOMERSET ST. URBAN RENEWAL | AT COST | $100 | $100 |
| UNIVERSITY DEVELOPMENT ASSOC | AT COST | $100 | $100 |
| SOMERSET ST ASSOC. 2 | AT COST | $100 | $100 |
| FERREN LEVERAGE LENDER | AT COST | $100 | $100 |
| THE VUE CONDOMINIUM ASSOC | AT COST | $100 | $100 |
| WASHINGTON ST. UNIV. HOUSING | AT COST | $100 | $100 |
| ISLAND CAMPUS REDEV. ASSOC. | AT COST | $1 | $1 |
| ATLANTIC AVENUE URBAN RENEWAL | AT COST | $1 | $1 |
| CULTURAL CENTER REDEV. ASSOC. | AT COST | $100 | $100 |
| DOWNTOWN HUB ASSOC. | AT COST | $10 | $10 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEES | CategoryTxt |
| Legal Fees | $77,184 | LegalFeesAmt |
| Adjusted Net Income | $77,184 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $40,688 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp (7 entries)
| DescDesc | BOY Book ValueBOYBookValueAmt | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| REDEVELOPMENT COSTS | $16,064,345 | $8,017,771 | $8,017,771 |
| INTEREST RECEIVABLE | $965,075 | $1,047,308 | $1,047,308 |
| OTHER ASSETS | $22,200 | $22,200 | $22,200 |
| CAPITAL LEASE RECEIVABLE | $75,419,674 | $68,207,461 | $68,207,461 |
| DEFERRED DEVELOPER FEE | $1,100,000 | $1,100,000 | $1,100,000 |
| ESCROW DEPOSITS | $647,877 | $51,222,561 | $51,222,561 |
| REDEVELOPMENT PROJECT COSTS | $0 | $21,233,335 | $21,233,335 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (5 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| ADVERTISING | $376,787 | $0 | $376,787 | $377,887 |
| OFFICE EXPENSE | $119,758 | $0 | $119,758 | $119,758 |
| CONFERENCES AND MEETINGS | $46,463 | $0 | $46,463 | $46,463 |
| INSURANCE | $171,166 | $0 | $171,166 | $171,166 |
| DIRECT REDEVELOPMENT PROJECT | $388,041 | $142,360 | $245,681 | $388,041 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MANAGEMENT & DEVELOPMENT FEES | Desc |
| Revenue And Expenses Per Books | $6,100,129 | RevenueAndExpensesPerBooksAmt |
| Adjusted Net Income | $6,100,129 | AdjustedNetIncomeAmt |
Other Liabilities Schedule OtherLiabilitiesSchedule
Other Liabilities Detail OtherLiabilitiesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SECURITY DEPOSITS | Desc |
| BOY Book Value | $71,618 | BOYBookValueAmt |
| EOY Book Value | $81,245 | EOYBookValueAmt |
Other Notes Loans Rcvbl Long Sch OtherNotesLoansRcvblLongSch
Other Notes Loans Rcvbl Long OtherNotesLoansRcvblLongGrp
Borrower Name BorrowerNameGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MIDDLESEX COUNTY IMPROVEMENT AUTHORITY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Balance Due | $3,258,356 | BalanceDueAmt |
| Note | 2005-04 | NoteDt |
| Loan Maturity | 2037-01 | LoanMaturityDt |
| Interest | 6. | InterestRt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | PAYROLL TAXES | CategoryTxt |
| Amt | $115,722 | Amt |
| Adjusted Net Income | $115,722 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $115,722 | DisbursementsCharitablePrpsAmt |