2024-06-11T08:16:35-04:00 2023-12-31 222417800 MARTINI & MARTINI CPA P A 1135 E CHESTNUT AVE VINELAND NJ 08360 990 2023-01-01 223116666 VINELAND DOWNTOWN IMPROVEMENT DISTRICT MANAGEMENT CORPORATION VINE 8567948653 603 EAST LANDIS AVENUE VINELAND NJ 08360 RUSSELL SWANSON EXECUTIVE DIRECTOR 8567948653 2024-06-10 true RUSSELL SWANSON 999009999 true DAVID J MACALINO P02187395 8566918934 2024-06-10 2023 2023-04-26 12:10:37Z RUSSELL SWANSON 603 EAST LANDIS AVENUE VINELAND NJ 08360 369010 false X WWW.THEAVE.BIZ X 2009 NJ THE ORGANIZATION ASSISTS THE CITY OF VINELAND, NJ IN PROMOTING, ENHANCING AND REVITALIZING THE ECONOMIC GROWTH OF THE DOWNTOWN DISTRICT AS A THRIVING COMMERCIAL DISTRICT AND COMMUNITY GATHERING PLACE FOR SHOPPERS, RESIDENTS AND VISITORS. 9 9 0 30 0 258582 287361 0 73 548 39348 55875 298003 343784 16900 63000 0 129503 0 23224 250634 150558 267534 343061 30469 723 683998 718190 448446 564336 235552 153854 X THE ORGANIZATION ASSISTS THE CITY OF VINELAND, NJ IN PROMOTING, ENHANCING AND REVITALIZING THE ECONOMIC GROWTH OF THE DOWNTOWN DISTRICT AS A THRIVING COMMERCIAL DISTRICT AND COMMUNITY GATHERING PLACE FOR SHOPPERS, RESIDENTS AND VISITORS. false false 283751 63000 THE ORGANIZATION ASSISTS THE CITY OF VINELAND, NJ IN PROMOTING, ENHANCING AND REVITALIZING THE ECONOMIC GROWTH OF THE DOWNTOWN DISTRICT AS A THRIVING COMMERCIAL DISTRICT AND COMMUNITY GATHERING PLACE FOR SHOPPERS, RESIDENTS AND VISITORS. 283751 true true false false false false false false true false true false false false true false true false false false false false false false true false false true true false false false false false true true false true false false false false false false false false false true 19 0 0 false false false false false false false false X 9 9 false false false false true true true true true false false true true true true true true true true false NJ X RUSSELL SWANSON 8567948653 603 EAST LANDIS AVENUE VINELAND NJ 08360 BRIAN LANKIN CHAIRMAN 5.00 X X 0 0 0 DENNIS INGRALDI VICE CHAIRMA 5.00 X X 0 0 0 LIZZY KENNEDY TREASURER/SE 5.00 X X 0 0 0 PAUL SPINELLI COUNCIL LIAI 5.00 X X 0 0 0 ROBIN ADAMS TRUSTEE AT L 5.00 X 0 0 0 VANESSA SOSA TRUSTEE AT L 5.00 X 0 0 0 JUSTIN WHITE TRUSTEE AT L 5.00 X 0 0 0 MCCLEOD CARRE TRUSTEE AT L 5.00 X 0 0 0 RICHARD DIXON TRUSTEE AT L 5.00 X 0 0 0 RUSSELL SWANSON EXECUTIVE DI 25.00 X 0 0 80937 80937 false false false 21100 266261 287361 548 548 24600 24600 24600 24600 41753 21100 25226 16527 GAIN ON FORGIVENESS OF DEBT 531110 14748 14748 14748 343784 39896 12000 12000 51000 51000 116843 93473 11685 11685 3627 2901 363 363 9033 7227 903 903 12000 9600 2400 33250 25125 8125 25383 22566 2817 22822 12340 5643 4839 26070 22415 3086 569 2648 2267 381 16672 13338 1667 1667 10555 9499 1056 BAD DEBT EXPENSE 1048 1048 MISCELLANEOUS 110 110 343061 283751 36086 23224 118067 217336 110504 53551 19490 22361 7382 7825 675658 258541 428555 417117 683998 718190 3210 23694 7500 30000 1950 1950 435786 508692 448446 564336 X 235552 153854 235552 153854 683998 718190 723 -82421 X false true X true X 234001 173270 208998 258582 343864 1218715 234001 173270 208998 258582 343864 1218715 157342 1061373 27175 24625 22706 24673 25148 124327 1343042 81649 0.79030 0.90070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false 104949 104949 473173 170740 302433 86023 76288 9735 11513 11513 417117 CONTINGENT VRLF, LLC NOTE 01-01 361000 CONTINGENT VRLF, LLC NOTE 02-03 87655 FORGIVABLE VRLF, LLC NOTE 03-01 32400 FORGIVABLE VRLF, LLC NOTE 02-02 27637 508692 343784 343784 343784 343061 343061 343061 TASTE OF VINELA 17318 5500 11818 210 2100 1000 500 FOOD TRUCK FEST 14914 8100 6814 3570 101 1000 7 30621 7500 23121 1000 9205 6540 62853 21100 41753 1000 210 14875 1101 8040 25226 16527 true SUMMIT INVESTMENT PROPERTIES LLC 629 EAST WOOD STREET SUITE 100 VINELAND NJ 08360 12000 1 FACADE IMPROVEMENTS 5 51000 SCHEDULE I, PAGE 1, PART I, LINE 2 THE ORGANIZATION HAS A GRANT APPLICATION PROCESS IN PLACE THAT DETAILS ELIGIBLE USE OF FUNDS, QUALIFICATIONS FOR THE PROGRAM AND ELIGIBLE TYPES OF IMPROVEMENTS. THERE IS A PRELIMINARY APPLICATION DEADLINE, A PROJECT APPLICATION DEADLIND, START OF PROJECT DEADLINE, CONTINUATION OF PROJECT DEADLINE AND PROJECT COMPLETION DEADLINE THAT MUST BE PROVIDED TO THE ORGANIZATION IN ORDER FOR THEM TO APPROVE THE APPLICANT FOR PASS THROUGH MSNJ TRANSFORMATION GRANT FUNDS. THE ORGANIZATION ADDITIONALLY OBTAINS ALL RECEIPTS AND PAPERWORK RELATED TO THE APPLICANT'S PROJECT FOR COMPLIANCE PURPOSES. RUSSELL SWANSON-SUMMIT INVESTMENTS EXECUTIVE DIRECTOR 12000 MSNJ GRANT FACADE IMPROVEMENTS ROBERT SCARPA-PRETTY ON PURPOSE PREV ASSOC. DIRECTOR 8000 MSNJ GRANT FACADE IMPROVEMENTS BRIAN LANKIN-AL'S SHOES CHAIRMAN 1400 EVENT SPONSORSHIPS false DENNIS INGRALDI-VINELAND REALTY VICE CHAIRMAN 100 EVENT SPONSORSHIPS false LIZZY KENNEDY-MEMBERS FIRST OF NJ TREASURER 4060 EVENT SPONSORSHIPS false JUSTIN WHITE-TESTA HECK TESTA WHITE TRUSTEE 1000 EVENT SPONSORSHIPS false RICHARD DIXON TRUSTEE 400 EVENT SPONSORSHIPS false ROBIN ADAMS TRUSTEE 50 EVENT SPONSORSHIPS false RUSSELL SWANSON EXEC. DIRECTOR 379 EXP. REIMBURSEMENTS false ROBERT SCARPA PREV. ASSOC DIR 29 EXP. REIMBURSEMENTS false DONATA DALESANDRO ORG. TEAM CHAIR 377 EXP. REIMBURSEMENTS false FORM 990 - ORGANIZATION'S MISSION THE ORGANIZATION ASSISTS THE CITY OF VINELAND, NJ IN PROMOTING, ENHANCING AND REVITALIZING THE ECONOMIC GROWTH OF THE DOWNTOWN DISTRICT AS A THRIVING COMMERCIAL DISTRICT AND COMMUNITY GATHERING PLACE FOR SHOPPERS, RESIDENTS AND VISITORS. FORM 990, PAGE 1, PART I, LINE 6 VOLUNTEERS ASSISTED VDID WITH VARIOUS VDID MEETINGS & SPECIAL EVENTS. FORM 990, PAGE 6, PART VI, LINE 6 VINELAND DOWNTOWN IMPROVEMENT DISTRICT MANAGEMENT CORPORATION HAS NO MEMBERS OR STOCKHOLDERS AND IS MANAGED BY THE BOARD OF TRUSTEES CONSISTING OF 9 MEMBERS. THE BOARD OF TRUSTEES HAVE FULL AUTHORITY AND LEGAL RESPONSBILITY FOR THE MANAGEMENT, OPERATION AND FINANCIAL VIABILITY OF THE ORGANIZATION. THE REVIEW AND MONITORING OF THE PROGRAM'S FINANCIAL MANAGEMENT IS DELEGATED TO THE BOARD OF TRUSTEES. FORM 990, PAGE 6, PART VI, LINE 7A THE INITIAL BOARD OF TRUSTEES CONSISTED OF THOSE TRUSTEES NAMED IN THE ARTICLES OF INCORPORATION. A TRUSTEE ELECTED BY THE BOARD SHALL HOLD OFFICE FOR A PERIOD OF ONE CALENDAR YEAR, AND THE ELECTION OF ALL OFFICERS OF THE BOARD SHALL BE BY MAJOIRTY VOTE AT THE ANNUAL REORGANIZATION MEETING. FORM 990, PAGE 6, PART VI, LINE 7B AT ALL MEETINGS OF THE BOARD, A MAJOIRTY OF THE APPOINTED TRUSTEES THEREOF SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS. WHERE A QUORUM IS PRESENT, THE ACTS OF A MAJORITY OF THE TRUSTEES PRESENT AT THE MEETING SHALL BE SUFFICIENT TO CONDUCT AND APPROVE THE BUSINESS OF THE ORGANIZATION EXCEPT THAT APPROVAL AND EXECUTION OF ANY AGREEMENT INVOLVING EXPENDITURES OF FUNDS INCLUDING CONTRACTS WITH ANY PERSON, FIRM, CORPORATION, GOVERNMENTAL AGENCY OR OTHER ENTITY SHALL ONLY TAKE PLACE UPON AFFIRMATIVE VOTE OF THE MAJORITY OF THE BOARD OF TRUSTEES AND FOLLOWING SHALL ONLY TAKE PLACE UPON THE AFFIRMATIVE VOTE OF A TWO-THIRDS (2/3) MAJORITY OF THE BOARD OF TRUSTEES: (A) THE BORROWING OF FUNDS FROM PRIVATE LENDERS OR FROM GOVERNMENTAL ENTITIES, (B) THE PURCHASE, SALE, LEASE OR CONTRACT OR MANAGEMENT OF REALTY OR (C) AMENDMENT PURSUANT TO ARICLE 15 OF THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B AT THE END OF THE YEAR, AN OUTSIDE CPA PREPARES THE ANNUAL FORM 990: RETURN FOR THE ORGANIZATION'S EXEMPTION FROM INCOME TAX. THE FORM 990 RETURN IS THEN PRESENTED TO THE EXECUTIVE DIRECTOR AND BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL. THE CPA WILL THEN FILE THE RETURN WITH THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION HOLDS AND ENFORCES A CONFLICT OF INTEREST AND DISCLOSURE POLICY, WHICH IS DISTRIBUTED TO EACH TRUSTEE, OFFICER, EMPLOYEE, CONSULTANT AND/OR AGENT AND SHALL CERTIFY IN WRITING THAT HE OR SHE HAS REVIEWED AND COMPLIED WITH SUCH POLICY. THE PURPOSE OF THE POLICY IS TO PREVENT CONFLICTS OF INTERESTS INTEFERING WITH THE ORGANIZATION'S DECISION MAKING PROCESS SUCH THAT IT IS NO LONGER REPRESENTATIVE OF OR IN THE BEST INTEREST OF THE ORGANIZATION, OR IN ACCORDANCE WITH THE ORGANIZATION'S BYLAWS. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF TRUSTEES IS RESPONSIBLE FOR DETERMINATION OF COMPENSATION FOR THE EXECUTIVE DIRECTOR. ANY SALARY RECEIVED BY THE EXECUTIVE DIRECTOR SHALL BE REASONABLE, GIVEN IN RETURN FOR SERVICES ACTUALLY RENDERED TO OR FOR THE CORPORATION AND CONSISTENT WITH APPLICABLE LAW GOVERNING TAX-EXEMPT ORGANIZATIONS AND APPLICABLE CORPORATE POLICIES, INCLUDING ANY CONFLICT OF INTEREST POLICY. FORM 990, PAGE 6, PART VI, LINE 15B NO OFFICER OR TRUSTEE BY VIRTUE OF HIS OR HER OFFICE SHALL BE ENTITLED TO RECEIVE ANY SALARY OR COMPENSATION OTHER THAN THE REIMBURSEMENT OF MONIES EXPENDED ON BEHALF OF THE ORGANIZATION AND REASONABLE EXPENSESS INCURRED IN ATTENDING A REGULAR OR SPECIAL MEETING OF THE BOARD OF TRUSTEES AND THEN, ONLY AS MAY BE APPROVED BY THE BOARD OF TRUSTEES FROM TIME-TO-TIME. NOTHING HEREIN SHALL BE CONSTRUED TO PREVENT AN OFFICER OR TRUSTEE FROM RECEIVING REASONABLE COMPENSATION APPROPRIATE FOR THE VALUE OF THE SERVICES PERFORMED FOR THE ORGANIZATION IN A CAPACITY OTHER THAN AS A TRUSTEE, PROVIDED THAT ALL POLICIES AND PROCEDURES REGARDING BOARD CONFLICTS OF INTEREST AND APPLICABLE PROCUREMENT STANDARDS HAVE BEEN FOLLOWED. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AND A COPY OF THE FORM 990 CAN BE OBTAINED VIA THE IRS WEBSITE.