Nedc Riverfront Corporation

Nonprofit profile at a glance

EIN
222595743
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9736435844
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$861,037
Expenses
$443,981
Assets
$1,725,152
Liabilities
$1,455,766

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • ALFRED FAIELLA (PRESIDENT)
  • WILLIAM EATON (V.PRESIDENT)

Highest reported compensation

  • ALFRED FAIELLA (PRESIDENT): $207,514 total reported compensation
  • WILLIAM EATON (V.PRESIDENT): $18,169 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organized to manage various redevelopment projects in nj.

What it reported doing in 2024

Redevelopment projects in nj.

Operating model

Revenue model
Affiliate-supported. 92% of the money available for current operations came from contributions from related organizations.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 74
  • Accountability: 40
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.4%; rating input score 37
  • Program expense ratio: 66.2%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 48.4%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 3.89; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.84; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 50.8%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 37.4% of revenue deployed · 66.2% of spending went to programs
  • Governance: 1 of 3 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $294K in reported program spending
  • Leadership: top reported pay $208K · 3 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.