Overview
What is Vineland Development Corporation?
Vineland Development Corporation, based in Vineland, New Jersey, is a nonprofit organization with a mission to stimulate economic growth and development within the city. Their primary function involves providing loans and incentives, acting as a catalyst for the revitalization and redevelopment of Vineland. By encouraging private investment, they aim to foster a thriving economic landscape. The corporation's activities are geared towards assisting in the city's transformation and promoting sustainable development.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94%
Vineland Development Corporation has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, reflecting a high level of accountability and financial management. With a score of 94% in Accountability & Finance, the organization demonstrates strong governance practices, indicating it effectively uses its resources to fulfill its mission.
The evaluation highlights several strengths, including having a fully independent board and a robust conflict of interest policy. The organization has also shown excellent financial health, with a low liabilities-to-assets ratio and a high percentage of program expenses, signifying that a significant portion of its expenditures directly supports its programs and initiatives.
No major limitations were noted in the data, emphasizing the organization’s transparency and sound financial practices. This strong rating positions Vineland Development Corporation as a trustworthy option for those looking to support a nonprofit with proven accountability and effective use of funds.
This AI summary has been generated from information found on Charity Navigator.
Is Vineland Development Corporation legitimate?
Vineland Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vineland Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Vineland Development Corporation?
The Vineland Development Corporation's mission is centered around facilitating the revitalization and redevelopment of a city, encouraging private investment, and supporting economic development. They accomplish this by offering financial aid and incentives, aiming to foster economic growth and development within the designated city. Their primary objective is to stimulate investment and development, ultimately contributing to the city's overall economic prosperity.
Who is the CEO of Vineland Development Corporation?
Sandra Forosisky is the Trustee of Vineland Development Corporation.
What is the revenue of Vineland Development Corporation?
Vineland Development Corporation's revenue in 2023 was $5,230,999.
Who are the executives of Vineland Development Corporation and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Vineland Development Corporation?
Vineland Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Vineland Development Corporation
Vineland Development Corporation, as a nonprofit organization, is dedicated to aiding in the revitalization and redevelopment of urban spaces. Its primary mission is to stimulate private investment and contribute to economic development within the community. By providing various financial incentives and loans, this organization plays a crucial role in fostering growth and development in the City of Vineland. This commitment to economic progress is a testament to Vineland Development Corporation's dedication to improving the overall well-being and prosperity of the community it serves.
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Impact
October, 2024
Vineland Development Corporation plays a pivotal role in the revitalization and redevelopment of Vineland, NJ, by actively encouraging private investment and promoting economic development within the city. Through the provision of loans and various incentives, the organization supports local businesses and facilitates initiatives that drive economic growth. This commitment to community improvement not only enhances the local economy but also fosters a vibrant living environment, ultimately transforming Vineland into a more attractive place for residents and investors alike.
This information is meant to be a general summary of Vineland Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $238,326
- Program Service Revenue: $3,172,401
- Gross Receipts: $7,183,900
Assets and Liabilities:
- Total Assets: $81,251,438
- Total Liabilities: $673,279
- Net Assets: $80,578,159
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan Service Fees
Revenue
$43,675
Loan Interest Income
Revenue
$2,554,871
Bad Debt Recovery on Loans
Revenue
$573,855
Organization Details
Founding Year
2006
Phone
(856) 794-4000Principal Officer
Sandra Forosisky
Main Address
640 East Wood Street, Vineland, NJ, 08360
NTEE Category
Code: S20 - Community improvement
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