Overview
What is Food Specialization Redevelopment Corporation?
The Food Specialization Redevelopment Corporation is a nonprofit organization situated in Millville, New Jersey. Its primary objective is to develop, construct, manage, lease, sell, or transfer a Food Industry Commercialization Center in Bridgeton, New Jersey. This center aims to foster the growth of the food industry. To accomplish this mission, the corporation collaborates with various nonprofit corporations, private entities, and governmental entities to secure and participate in federal and state of New Jersey investment tax credits, such as New Markets Tax Credits, and other necessary financing. The organization possesses the powers enlisted in the New Jersey Nonprofit Corporation Act, allowing it to fulfill its purpose effectively.
Is Food Specialization Redevelopment Corporation legitimate?
Food Specialization Redevelopment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Food Specialization Redevelopment 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.
Heare are some key statistics you may want to consider:
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What is the mission statement of Food Specialization Redevelopment Corporation?
The Food Specialization Redevelopment Corporation's mission is centered around developing, constructing, managing, leasing, selling, and transferring a commercialization center for the food industry. This center is intended to facilitate collaboration with various non-profit organizations, private entities, and governmental entities. The primary goal is to secure and participate in federal and New Jersey state investment tax credits, including New Markets Tax Credits, and other necessary financing. The corporation's purpose extends to exercising any powers permitted by the New Jersey Non-Profit Corporation Act, furthering its mission of developing and managing the food industry commercialization center.
Who is the CEO of Food Specialization Redevelopment Corporation?
Robert P Nedohon Jr is the Vice Preside of Food Specialization Redevelopment Corporation.
What is the revenue of Food Specialization Redevelopment Corporation?
Food Specialization Redevelopment Corporation's revenue in 2022 was $185,529.
Who are the executives of Food Specialization Redevelopment Corporation and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Food Specialization Redevelopment Corporation?
Food Specialization Redevelopment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Food Specialization Redevelopment Corporation
The Food Specialization Redevelopment Corporation's mission is centered around the development, construction, management, leasing, selling, and transfer of a Food Industry Commercialization Center. This organization aims to collaborate with various non-profit corporations, private entities, and governmental entities to secure and participate in federal and New Jersey state investment tax credits, including New Markets Tax Credits, and other necessary financing. The corporation's purpose is to establish the Food Industry Commercialization Center on an assigned property, utilizing all the powers enlisted in the New Jersey Non-Profit Corporation Act to further its objectives.
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Impact
October, 2024
The Food Specialization Redevelopment Corporation plays a crucial role in advancing the local economy and community development in Bridgeton, NJ. By focusing on the development, construction, and management of the Food Industry Commercialization Center, it fosters a robust environment for food-related businesses to thrive.
This initiative not only enhances local infrastructure but also attracts private sector investment and creates job opportunities, thereby boosting economic activity in the region. The corporation's strategy to collaborate with various stakeholders—such as other nonprofit organizations, private entities, and government bodies—enables it to leverage federal and state tax credits, including New Markets Tax Credits. This financial support is vital for the sustainability and growth of the food industry in Bridgeton.
Ultimately, the impact of the Food Specialization Redevelopment Corporation extends beyond just the food sector; it contributes significantly to the overall improvement of the community by encouraging entrepreneurship, enhancing local business capacity, and fostering a vibrant local economy.
This information is meant to be a general summary of Food Specialization Redevelopment 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 2022.
- Investment Income: $25
- Program Service Revenue: $185,504
- Gross Receipts: $185,529
Assets and Liabilities:
- Total Assets: $10,175,333
- Total Liabilities: $10,500,020
- Net Assets: -$324,687
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OPERATING FEE
Revenue
$185,504
Organization Details
Founding Year
2017
Phone
(856) 825-3700Principal Officer
Robert P Nedohon Jr
Main Address
745 LEBANON ROAD, MILLVILLE, NJ, 08332
NTEE Category
Code: S11 - Community improvement
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