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Nonprofiteer
← NEDC RIVERFRONT CORP

Form 990 for tax year 2022

Filed by NEDC RIVERFRONT CORP.

Totals

Total revenue
$821,531
Total expenses
$521,777
Contributions and grants received
$832,966
Grants paid
$0
Program service revenue
$0
Investment income
$72,503
Other revenue
-$83,938
Total assets, end of year
$1,600,505
Total liabilities, end of year
$1,927,324
Net assets or fund balances, end of year
-$326,819
Program services expenses (Part IX)
$383,047
Management and general expenses
$138,730
Fundraising expenses
$0
Program service expenses (Part III)
$383,047

Program services were 73.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $832,966

  • 3 · Investment income

    total $62,503 · excluded $62,503

  • 6a · Gross rents

    real property $93,260

  • 6b · Less rental expenses

    real property $177,198

  • 6c · Rental income or loss

    real property -$83,938

  • 6d · Net rental income or loss

    total -$83,938 · related or exempt -$83,938

  • 7a · Gross sales of assets other than inventory

    other assets $10,000

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $10,000

  • 7d · Net gain or loss

    total $10,000 · excluded $10,000

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $251,428 · program services $213,714 · management and general $37,714

  • 10 · Payroll taxes

    total $14,333 · management and general $14,333

  • 11b · Fees: legal

    total $16,659 · program services $16,659

  • 11c · Fees: accounting

    total $25,280 · management and general $25,280

  • 11g · Fees: other

    total $133,590 · program services $116,001 · management and general $17,589

  • 13 · Office expenses

    total $6,879 · management and general $6,879

  • 14 · Information technology

    total $4,720 · management and general $4,720

  • 17 · Travel

    total $32,908 · program services $27,972 · management and general $4,936

  • 22 · Depreciation, depletion and amortization

    total $5,990 · management and general $5,990

  • 23 · Insurance

    total $16,330 · management and general $16,330

  • 24a · Other expenses: SATELLITE COSTS

    total $8,701 · program services $8,701

  • 24b · Other expenses: FILING FEES

    total $2,990 · management and general $2,990

  • 24c · Other expenses: MISCELLANEOUS

    total $998 · management and general $998

  • 24d · Other expenses: BANK AND CREDIT CARD FE

    total $971 · management and general $971

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $51,224 · end of year $79,903

  • 4 · Accounts receivable

    beginning of year $992,400 · end of year $957,487

  • 10a · Land, buildings and equipment: cost or other basis

    $990,777

  • 10b · Land, buildings and equipment: accumulated depreciation

    $427,662

  • 10c · Land, buildings and equipment, net

    beginning of year $492,974 · end of year $563,115

  • 24 · Unsecured notes and loans payable

    beginning of year $273,156 · end of year $273,156

  • 25 · Other liabilities

    beginning of year $1,890,015 · end of year $1,654,168

  • 27 · Net assets without donor restrictions

    beginning of year -$626,573 · end of year -$326,819

Mission and programs · 2022

Mission

ORGANIZED TO MANAGE VARIOUS REDEVELOPMENT PROJECTS IN NJ.

Activities or mission (Part I)

ORGANIZED TO MANAGE VARIOUS REDEVELOPMENT PROJECTS IN THE STATE OF NJ.

  • REDEVELOPMENT PROJECTS IN NJ.

    Expenses $383,047

As filed on the 2022 return.

Listed in Part VII

  • Alfred Faiella

    PRESIDENT

    Total calculated
    $211,427
    From this org
    $178,000
    From related orgs
    $0
    Other
    $33,427
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $178,000
    Bonus
    $0
    Other
    $0
    Deferred
    $21,833
    Nontaxable benefits
    $11,594
    Filer's total
    $211,427

  • William Eaton

    V.PRESIDENT

    Total calculated
    $18,168
    From this org
    $18,168
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Warren J King Jr

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
27 March 2024
IRS schema version
2022v5.0
Source object
202441249349302064

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