Food Specialization Redevelopment Corporation

Analysis

Food Specialization Redevelopment Corporation is a registered charity in United States, based in Millville, NJ. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Food Specialization Redevelopment Corporation reported income of $186k and spending of $473k, spending 255% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $93k to $186k (+99%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 100%. Over the whole period it spent 159% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Food Specialization Redevelopment Corporation sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 59th percentile within NJ. Charities of a similar size with the same main cause include Uptown Jackson Revitalization Organization Inc ($185k), Junior League of Roanoke Va Inc ($186k) and The Arc of Laramie County ($185k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $9.5m against liabilities of $10.5m, net assets of -$992k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.