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>> This week on NJ Business Beat, details of when you can expect a check from the tax program.

Plus.

>> We apply our taxpayer dollars, we get a multi-affective growth and opportunity.

>> Of the state will spend millions for our colleges and universities.

>> That is not a recipe for being able to meet the needs of our communities.

>> We highlight the help of our states, nonprofits and why does organization say the most roads meet the demand for services.

Ahead on NJ Business Beat.

♪ >> This is NJ Business Beat.

>> Hello.

Thank you for joining me on NJ Business Beat.

Some of you may have gotten an unexpected deposit in your bank account this week that likely came from the state of New Jersey as part of the anchor property tax rebate program.

The deposit started landing in accounts earlier this before the more than 800,000 New Jersey residents who signed up to receive their rebate electronically.

Paper text will start going out in early April.

More than 1.7 million people in the state apply for the rebate.

Majority were homeowners although more than 100,000 -- then 500,000 renters also apply for relief.

There are on track to finalize all of the payments by May 3.

The state has set up a hotline for anyone trying to track down their payment.

You can see it below.

The governor has included the payments for the next fiscal budget as well.

Part of his plan to provide more tax relief for New Jersey residents.

Colleges and universities will get to share a pot of millions of federal dollars.

U.S.

Senators Bob Menendez and Cory Booker held an event with pain universities leaders to announce funding.

It totals just over $18 million.

Officials recently testified during state budget hearings about a need for more aid to help pay staff salaries but the money is being set aside for other investments as senator men and as explained.

>> This is money that will go a long way toward supporting critical initiatives and will further efforts in cyber security which we are in the midst of such needs today.

Stem researchentrepreneurship, apprenticeship, nursing, medical programs and more.

It will make our state more competitive and break down barriers of access for students and increase equity at a time when we must do all we can to expand pipelines for communities that are historically denied these opportunities.

>> Cain is slated to get more than $4 million of the funding.

The University will use the money on projects including renovating the research labs and a new hire at program for middle and high school students.

Select come Valley Bank has a new owner.

First citizens Bank purchased the domain -- remaining deposits, assets and branches.

A sign the regional banking crisis may be calming down.

Click on Valley Bank was shut down in early March as clients rushed to withdraw their money over concerns with the Bank's finances.

This marked the biggest banking failure in more than a decade and lead to a panic that also saw signature bank collapse.

Silicon Valley Bank locations will open as first citizens Bank according to the new owner.

This week, 572 Bed, Bath & Beyond the workers were laid off and hundred 77 or workers at the union office will lose their jobs April 9 according to a notice filed by the state.

Here the catch.

The company is making the second round of Casadei before a new law takes effect in Jersey that will require large businesses with 100 or more workers big Bed Bath & Beyond to pay severance when they lay off at least 50 people.

Severance announce -- amounts to one week of pay for everyone at the company.

By laying off workers on April 9 instead of the 10th, they stand to save millions of dollars.

He spoke to our senior reporter for business insider about the layoffs.

not having a lot of cash right now.

I my estimates, they would be facing many millions of dollars of mandatory severance payments above and beyond with the federal government currently requires.

This is a sweeping new role that a lot of business leaders do not like.

>> Walmarts will also be laying off hundreds of workers in South Jersey.

Reuters reports the company will slash about 200 jobs at his town location, part of a plan to cut jobs at is e-commerce centers.

Aubart is also laying off workers in Pennsylvania, -- Walmart is also laying off workers in Pennsylvania, Texas, California and more.

Disney announced in February it would cut 7000 positions from the company.

The first round of job cuts began this week.

CO Bob Iger said layoffs would roll out in three phases with the next one coming in April.

Affordable housing is hard-to-find in New Jersey.

In our most populated city, the crisis grows larger day by day.

This week, New York must a program to help black and brown families launch new programs.

The goal is to create or renovate multi family businesses in New York and turn them into affordable homes that residents can own.

As part of the initiative, N ewark is recruiting workers to help with the campaign.

A center found almost half of all real estate sales went to corporations instead of Newark residents.

In home for the first time can be a challenge for everyone and with prices rising and limited stock available, it is harder than it has ever been for a first-time homebuyer.

According to the national conference, the price to buy an average price home doubled from more than 50,000 to more than 100 thousand dollars from 2019 to 2022.

I sat down with a real estate agent to learn how first-time buyers can renovate the market -- navigate the market.

How does the Fed interest rate hikes impact first-time buyers to buy homes?

>> There is a lot less will estate on the market.

The increase of interest rates has lowered the ability to be able to afford what they could have at a much lower interest rate.

This unfortunately has affected by power but in general, the market is still a sellers market there is a shortage of inventory and not enough supply.

We have very high demands.

Are seeing a lot of buyers be outfitted.

We are in multiple offer situations all the time.

It is just a crazy market.

>> What does this mean for things like new home construction?

>> A lot of the new home construction is being put on hold.

I have been noticing a lot of the elders are just holding off because of the increase in materials and labor and also in property costs to acquire these homes.

Builders are also being outbid by regular homeowners that are just looking to buy a home and live in it for the next 30 years.

>> Especially for first-time homebuyers, does this mean that when looking, they may consider buying something smaller or looking to buy in a different town?

>> I am seeing a lot of buyers coming out and realizing they are being outbid all the time and getting frustrated with the way the market is going.

Our settling and buying smaller homes or homes in towns that they would not otherwise be initially looking and.

-- looking in.

>> Patients.

Is that really what people need to hold onto at the moment?

>> This has been going on for a wild.

Patience is definitely something buyers will have to have at this point but I do not see the market changing anytime soon.

We saw the interest rates go up into that definitely put a hold and slow down of the marketplace.

After three or four months, people are realizing this is the new normal.

Until we have the inventory, it is going to be a while until buyers are going to be able to be in the purchase -- having the purchasing power right now.

Right now, it is definitely a sellers market.

I would say be patients.

But I am also recognizing -- recommending people do is maybe buy the home that needs a little bit of love.

Do the renovation.

That is something I would recommend to anyone out there that is actively looking for a home.

Just being constantly outbid.

>> Who heard it.

It is a sellers market.

This is the new normal so get used to it.

Thank you for the tips for our viewers.

We will have to wait and see what happens.

New Jersey is home to one of the best main streets in the entire country, according to Main Street America which honored McCutcheon's downtown with the Great American mainstream award.

The award goes to the mud touching downtown alliance for its -- McCutcheon downtown alliance for its mission.

It rebuilt Main Street in the area after the concerns of the number of vacant businesses.

Instead, they have implemented shop local programs, and promotions and handed out grants for improved.

According to Main Street America, in just six years, the bank emergency rate dropped from 22% to 4%.

McCutcheon downtown alliance is one of many organizations that improve the community.

While they have not improved since the pandemic, they are struggling to meet overwhelming demand for their services and anticipate demand will only grow as the nation goes through economic uncertainty.

We are putting nonprofits in focus, how lighting needs and how the communities around the profits can help those in need.

New Jersey Center for nonprofits released its annual report on the state of the industry in New Jersey.

Almost 80% of the survey said demand rose significantly in 2022 but the funding is not keeping up with demand, increasing by only 51% year-over-year.

Or than 80% of nonprofit workers say they expect demand for their services and their overall expenses to rise in 2023 but they did not expect funding to keep pace.

The industry is not immune to the staffing crisis seen around the country.

Where than half of the nonprofits surveyed said they are experiencing a staffing shortage.

On average, nonprofits are missing 90% of their staff heading into 2023.

There is good news.

Despite its challenges, two thirds of nonprofits expect to be in a better place at the end of 2023 compared to the end of last year.

They say there has been steady improvement for the industry over the past two years.

We wanted to dig into the state of industry with the group behind the research.

I sat down with the president and CEO of the New Jersey Center of nonprofits to get a better understanding of how the organizations are navigating the year in which economists expect a recession.

Linda, welcome.

>> Thank you.

Brad -- glad to be here.

>> We know there is a greater demand for services when it comes to nonprofits because of the ending of the government relief programs and high costs of almost everything from shelter to food.

That means there is a heavier reliance on nonprofits.

Why are nonprofits struggling financially?

>> You have a real disconnect.

This is not new.

What we keep finding is this demand for services that nonprofits provide is going up faster than the resources needed to meet that demand.

The pandemic exacerbated the situation but in our last survey, 80% of our respondents said demand had gone up in the last year but only half that funding had gone up.

Similarly, about the same percentages predicted demand was going to continue to rise in 2023 but only half said their funding was going to go up.

That is not a recipe for being able to meet the needs of our communities.

We need to do something about it.

>> Are the financial donations down just because of inflation?

>> There is a bigger problem at work.

The 2017 tax law did not help situations.

With the tax law was passed in 2017, it changed the formula.

The standard deduction was doubled but only people who itemize on their tax returns could take a charitable giving donation.

This means that without any tax incentive for giving for the rest of the taxpayers, only about 10%, or 12%, of taxpayers can actually deduct their gifts which means it is more expensive for everyone else to give CHAZ hurt giving, particularly -- to give which has hurt giving.

>> What other policies do you think are needed to better support nonprofits?

>> First and foremost, we should incentivize getting on the federal level and in New Jersey.

New Jersey is one of the minority of states that does not have any sort of incentive for people to give to charity.

His legislation in New Jersey that would change that and create a state-level charitable giving donation regardless of whether you itemize on your federal return.

Another thing is, in terms of the partnerships the charities have of government and philanthropy, make it easier to apply for and receive the funds.

Where flexibility means charities are better able to respond to needs on the ground or change quickly when emergencies arrive like a pandemic.

Simplifying the application processes and those reporting processes would make a really big difference.

Finally, because the charitable community is a big partner with Government and flow -- in philanthropy, make sure that any sort of policies that are impacted reflect the input of nonprofits who are experts on the ground.

>> If we do not see those changes that you just mentioned, what in turn can we see with many nonprofits across the board?

>> If the nonprofit community is not thriving, New Jersey suffers as a result.

You will see serve -- services delayed, cuts back and sometimes eliminated.

It is a problem that needs to be attended to.

>> Can you give insight on what we -- thank you for giving insight on what we need to see our communities thrive.

High inflation is driving up the cost for food across the country and in our area, leaving many people barely able to afford groceries.

The combination of fewer donations and greater demand has created a perfect storm for food banks juggling to serve those in need.

I sat with Nicole Davis, Executive Director for food action in Inglewood to discuss how the center is meeting increased demand and fighting food insecurity in northern New Jersey.

>> Great to see.

Thank you you for joining me.

>> Thank you for having us.

I am excited to talk about the center for food action.

>> Tell me about your organization into it serves.

>> CFA is here to fight hunger and homelessness.

We are in northern New Jersey.

We cover 100 towns.

It is six brick and mortar outlets.

We are the largest pantry in North Jersey.

Residents can go to Inglewood, Mahwah, Saddle Brook, Hackensack, Ringwood and on the campus of Bergen community College because there is college hunger to get assistance with food.

We also do homelessness prevention.

>> Next question for you is with higher costs for food and shelter, are you finding that more people are relying on the center for food?

>> Yes.

More people are coming to the Center for food action.

We initially saw an increase in the pandemic.

We assumed that as the pandemic began to wean, that the numbers would go down.

But unfortunately, the numbers have not gone down.

Our households that we assisted at the end of 2022 exceeded what happened in 2021.

I can tell you that year to date , as today is almost the end of March, we have served over 7000 households in northern New Jersey.

You count the people in those households, mother, father, children, that is 26,139 people that we have served.

>> Nicole, when you think about the demand he spoke to, that in turn -- turn means more money.

Have you seen an increase or decrease in financial and food donations when we think about the demand in need?

>> We have seen an increase in donations where we are walking through and really trying to assess is in cash donations.

Because we have a watershed moment in the pandemic but now we have this economic kind of fog happening and that is going to really determine where we end up.

>> We know that donations are very important.

But let's talk about volunteers.

Are you seeing fewer volunteers?

>> I am happy to report we are seeing an uptick in volunteers.

At the beginning of the pandemic, we had a lots of volunteers that were seniors.

Because it was such an unknown with the pandemic, they just all quit in 24 hours.

Because people were tax was working from home, we saw an influx of more volunteers.

>> Thank you for joining me on Bz BEat to discuss an important topic.

>> Those with less money are understandably unable to donate with -- two charities but in many occasions, it is not just money that they rely on.

It is also volunteers.

For parents across the state, finding affordable childcare is another challenge in these uncertain economic times.

To discuss how organizations that cater to children and family are faring in the tough economy, I spoke with Leah Dade, Executive Director of the 2nd Street youth center in Fairfield.

Welcome.

>> Thank you.

Thank you so much.

I am excited to be here.

>> I am so happy you are here, mostly because what we are discussing today is so important, especially to those you serve.

Tell me more about 2nd Street youth center.

>> 2nd Street youth center is an anchor institution in Plainville.

We have been in early childhood education for close to 60 years.

Are coming up on our 60th anniversary in the next 24 months.

In addition to providing early childhood education for 210 children every day, also provide afterschool services where we provide homework help, since supplemental education, and literacy focused education.

>> We know that agencies that you are running are so important and critical to communities.

Tell me a little bit about the greater demand that you are seeing.

>> Since COVID, we have seen a considerable uptick in the need of families.

Not just the need but the complexity of the need.

Where maybe initially would have a family come to us with one need, or finding families come to us with multiple needs.

Some of which we are able to service but some that we have to refer out to other agencies.

Since COVID, we have seen a decline of the number of agencies are available to service our families.

>> And we talk about that demand, are you seeing more for low cost or no cost programs?

>> Most of our programming in our educational space is free to parents but it is the additional services parents needed.

Our summer program does have a cost associated with it but we cannot merely charge or ask parents what it costs us to actually run our summer program.

We rely heavily on private donations, heavily on Grant donations, to underwrite the actual costs of our program to provide the quality of services over the summer.

>> What I love about 2nd Street youth center is they also offer just a amazing experiences for a loss of the children and families who may not or would not have the opportunity to do so.

Can you talk a little about some things, some field trips, some other resources that you offered to the children and families there?

>> One of my mantras is that a child's ZIP Code should not determine the experiences they are entitled to have.

We, as organizations and institutions, in the communities need to expand the horizons of our children.

Our children got to take ski lessons and did this for several years in a row.

It would go up to Mount Pocono.

One of our other amazing trips was we took three busloads of children during our summer program to the African-American museum in Washington, D.C. >> Thank you so much for sharing what you are organization is doing to better the lives of your community and what you need and why this is so critical right now.

>> Thank you.

>> That does it for us this week.

Ascribe to our NJ Spotlight News YouTube channel to get alerted for when we post new clips.

Coming up, we explore the growth of cyber hustles, turning your hobbies and passions into moneymaking ventures.

Thank you for watching and we will see you next episode.

>> Funding for NJ Business Beat is provided by DEW local 102, proudly serving New Jersey's business community since 1900.

Local 102, writing the pad, leading the way.

Visit IBEW102.org.

For more than 102 years, NG DIA has been focused on the sixth -- NJ BIA has been focused on the success of our industries, working together to build a more prosperous New Jersey throughout the QC and support.

♪