New Brunswick Development Corporation

Is New Brunswick Development Corporation Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

New Brunswick Development Corporation directs 20% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.

About New Brunswick Development Corporation

New Brunswick Development Corporation (EIN: 222104766) is a nonprofit organization based in New Brunswick, NJ, classified under NTEE code P20. The organization reported total revenue of $10.1M and total assets of $994.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Brunswick Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates New Brunswick Development Corporation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 50%
• programs: 20%
• fundraising: 30%

According to IRS 990 filings, New Brunswick Development Corporation allocates its expenses as follows: admin: 50%, programs: 20%, fundraising: 30%. Only 20% is directed toward programs, which may warrant further investigation by donors.

Executive Compensation Analysis

Executive compensation is reported as 0% in all available filings, suggesting it is either not directly compensated or is embedded within other operational expenses, making a direct assessment difficult without further detail.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of New Brunswick Development Corporation's IRS 990 filings:

• Despite substantial assets, program spending appears to be a relatively small portion of overall expenditures.
• The 0% compensation reported across multiple years raises questions about how executive salaries are accounted for.
• Significant increase in assets (from $185M to $964M in one year) without a proportional increase in reported revenue or program spending warrants further investigation.

Strengths

The following positive indicators were identified for New Brunswick Development Corporation:

• The organization demonstrates substantial asset growth, indicating strong financial backing or investment activity.
• Consistent revenue generation over several years, with a notable increase in 2023 to $12,094,567.

Frequently Asked Questions about New Brunswick Development Corporation

Filing History

IRS 990 filing history for New Brunswick Development Corporation showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2011–2023), New Brunswick Development Corporation's revenue has grown by 151%, moving from $4.8M to $12.1M. Total assets increased by 1275.8% over the same period, from $70.1M to $965.0M. Total functional expenses rose by 127.6%, from $2.9M to $6.7M. In its most recent filing year (2023), New Brunswick Development Corporation reported a surplus of $5.4M, with revenue exceeding expenses. The organization holds $938.6M in liabilities against $965.0M in assets (debt-to-asset ratio: 97.3%), resulting in net assets of $26.4M.

Year-by-Year Financial Summary

• 2023: Revenue of $12.1M, expenses of $6.7M, and assets of $965.0M (revenue +28.6% year-over-year).
• 2022: Revenue of $9.4M, expenses of $6.0M, and assets of $185.9M (revenue +31.0% year-over-year).
• 2021: Revenue of $7.2M, expenses of $5.0M, and assets of $160.7M (revenue +292.6% year-over-year).
• 2020: Revenue of $1.8M, expenses of $7.9M, and assets of $103.1M (revenue -55.2% year-over-year).
• 2019: Revenue of $4.1M, expenses of $4.6M, and assets of $311.5M (revenue +1.6% year-over-year).
• 2017: Revenue of $4.0M, expenses of $4.9M, and assets of $318.7M (revenue -23.1% year-over-year).
• 2016: Revenue of $5.2M, expenses of $4.8M, and assets of $345.3M (revenue -22.9% year-over-year).
• 2015: Revenue of $6.8M, expenses of $4.9M, and assets of $376.9M (revenue +37.6% year-over-year).
• 2014: Revenue of $4.9M, expenses of $4.6M, and assets of $358.0M (revenue -63.1% year-over-year).
• 2013: Revenue of $13.4M, expenses of $11.8M, and assets of $279.6M (revenue +207.3% year-over-year).
• 2012: Revenue of $4.3M, expenses of $3.2M, and assets of $73.0M (revenue -9.8% year-over-year).
• 2011: Revenue of $4.8M, expenses of $2.9M, and assets of $70.1M.

Data Sources and Methodology

This transparency report for New Brunswick Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.