Nonprofit · EIN 06-1667411
TOMS RIVER BUSINESS DEVELOPMENT CORPORATION
Tax-exempt · TOMS RIVER, NJ 08753
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $411,246 | $417,793 | -$6,547 | $723,980 | $445,866 | $278,114 |
| December 31, 2023 | 990 | $424,649 | $468,297 | -$43,648 | $761,985 | $477,324 | $284,661 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $24,250
- of which government grants
- $24,250
- Program service revenue
- $386,293
- Investment income
- $703
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $180,915
- Salaries, compensation and benefits (total)
- $196,671
- Professional fundraising fees
- $0
- Accounting fees
- $7,203
- Occupancy
- $22,096
- Depreciation
- $19,559
- Program services (functional)
- $295,366
- Management and general (functional)
- $122,427
Balance sheet and other
- Total assets, start of year
- $761,985
- Total assets, end of year
- $723,980
- Total liabilities, end of year
- $445,866
- Net assets, end of year
- $278,114
- Land, buildings and equipment
- $611,392
- Net assets without donor restrictions
- $278,114
- Gross receipts
- $411,246
- Employees
- 5
- Year formed
- 2002
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| WILLIAM BEINING | VICE CHAIRMA Trustee or director, Officer | – | $0 |
| JOHN BROWN | DIRECTOR Trustee or director | – | $0 |
| JIMMY CAPONE | DIRECTOR Trustee or director | – | $0 |
| LISA CIFARETTO | DIRECTOR Trustee or director | – | $0 |
| MJ FERNANDEZ | EXECUTIVE DI Trustee or director | – | $0 |
| DEAN GRESEK | DIRECTOR Trustee or director | – | $0 |
| MICHAEL HOVANCE | CORRESPONDIN Trustee or director, Officer | – | $0 |
| SANDRA LAZZARO | DIRECTOR Trustee or director | – | $0 |
| MIKE LITTLE | OWNER DIRECT Trustee or director | – | $0 |
| MATTHEW LOTANO | DIRECTOR Trustee or director | – | $0 |
| ALICE MARIN | DIRECTOR Trustee or director | – | $0 |
| ANTHONY PALMUCCI | DIRECTOR Trustee or director | – | $0 |
| MARINA PAPINIKOLAS | DIRECTOR Trustee or director | – | $0 |
| LEE PELTON | TREASURER Trustee or director, Officer | – | $0 |
| PAM PINER | OWNER DIRECT Trustee or director | – | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SUE QUINN | DIRECTOR Trustee or director | – | $0 |
| DANIEL RODRICK | DIRECTOR Trustee or director | – | $0 |
| ROBERT SHEA | CHAIRMAN Trustee or director, Officer | – | $0 |
| DANIELE SZCZYPINSKI | DIRECTOR Trustee or director | – | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| WILLIAM BEINING | VICE CHAIRMA Trustee or director, Officer | – | $0 |
| JOHN BROWN | DIRECTOR Trustee or director | – | $0 |
| MARY JO BUCHANAN | DIRECTOR Trustee or director | – | $0 |
| LISA CIFARETTO | DIRECTOR Trustee or director | – | $0 |
| TOM FORGIONE | RECORDING SE Trustee or director | – | $0 |
| GABRIEL GILLEN | DIRECTOR Trustee or director | – | $0 |
| DEAN GRESEK | DIRECTOR Trustee or director | – | $0 |
| MICHAEL HOVANCE | CORRESPONDIN Trustee or director, Officer | – | $0 |
| MAURICE HILL | DIRECTOR Trustee or director | – | $0 |
| GEORGETTE KYRIACOU | DIRECTOR Trustee or director | – | $0 |
| SANDRA LAZZARO | DIRECTOR Trustee or director | – | $0 |
| MIKE LITTLE | OWNER DIRECT Trustee or director | – | $0 |
| DANIELLE NORCROSS | DIRECTOR Trustee or director | – | $0 |
| ANTHONY PALMUCCI | DIRECTOR Trustee or director | – | $0 |
| LEE PELTON | TREASURER Trustee or director, Officer | – | $0 |
| PAM PINER | OWNER DIRECT Trustee or director | – | $0 |
| SUE QUINN | DIRECTOR Trustee or director | – | $0 |
| ROBERT SHEA | CHAIRMAN Trustee or director, Officer | – | $0 |
| DANIELE SZCZYPINSKI | DIRECTOR Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 218 MAIN ST, TOMS RIVER, NJ 08753-7438
- Principal officer (990 for 2024)
- LEE PELTON
- Signed the 990
- LEE PELTON, TREASURER
- Phone
- (732) 341-8738
- Website
- WWW.DOWNTOWNTOMSRIVER.COM
- Return prepared by
- MATTHEW K VARLEY CPA LLC
Mission
THE ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES ARE TO ENHANCE THE ECONOMIC VIABILITY OF THE DOWNTOWN TOMS RIVER BUSINESS DISTRICT. THE ORGANIZATION WAS ESTABLISHED BY A SUPPLEMENT TO THE :CODE OF THE TOWNSHIP OF TOMS RIVER" ADDING CHAPTER 440, SPECIAL IMPROVEMENT DISTRICT DESIGNATED AND DISTRICT MANAGEMENT CORPORATION ESTABLISHED.
Program accomplishments
- THE ORGANIZATION PERFORMS MARKETING, PUBLIC RELATIONS, BUINESS ASSISTANCE AND PROMOTION OF THE TOMS RIVER BUSINESS IMPROVEMENT DISTRICT.Expenses $295,366 · revenue $386,293
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 06-1667411
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2004
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $723,980
- Income (IRS master file)
- $411,246
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $411,246 | $417,793 | $723,980 | XML |
| 990 | December 2023 | $424,649 | $468,297 | $761,985 | XML |
| 990 | December 2022 | $438,450 | $463,377 | $812,700 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 06-1667411).
Questions about TOMS RIVER BUSINESS DEVELOPMENT CORPORATION
- What is the EIN of TOMS RIVER BUSINESS DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of TOMS RIVER BUSINESS DEVELOPMENT CORPORATION is 06-1667411.
- Is TOMS RIVER BUSINESS DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to TOMS RIVER BUSINESS DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TOMS RIVER BUSINESS DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TOMS RIVER BUSINESS DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TOMS RIVER BUSINESS DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of TOMS RIVER BUSINESS DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names LEE PELTON.
- Who are the officers and directors of TOMS RIVER BUSINESS DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 19 people; 0 received compensation from the organization.
- How much revenue does TOMS RIVER BUSINESS DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $411,246, expenses of $417,793 and total assets of $723,980 at year end.
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All nonprofits in TOMS RIVER · New Jersey · Community improvement and capacity building