Skip to content
Nonprofiteer
← GREAT FALLS HOUSING CORPORATION

Form 990 for tax year 2023

Filed by GREAT FALLS HOUSING CORPORATION.

Totals

Total revenue
$571,739
Total expenses
$621,345
Contributions and grants received
$186,638
Grants paid
$0
Program service revenue
$382,364
Investment income
$1,843
Other revenue
$894
Total assets, end of year
$8,072,063
Total liabilities, end of year
$4,046,765
Net assets or fund balances, end of year
$4,025,298
Program services expenses (Part IX)
$621,345
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$621,345

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $186,638

  • 2a · Program service revenue: PROGRAM INCOME

    total $382,364 · related or exempt $382,364

  • 3 · Investment income

    total $1,843 · excluded $1,843

  • 6a · Gross rents

    real property $16,079

  • 6b · Less rental expenses

    real property $15,185

  • 6c · Rental income or loss

    real property $894

  • 6d · Net rental income or loss

    total $894 · unrelated business $894

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $72,000 · program services $72,000

  • 11g · Fees: other

    total $33,780 · program services $33,780

  • 13 · Office expenses

    total $49,206 · program services $49,206

  • 16 · Occupancy

    total $15,213 · program services $15,213

  • 17 · Travel

    total $291 · program services $291

  • 20 · Interest

    total $30,234 · program services $30,234

  • 22 · Depreciation, depletion and amortization

    total $205,088 · program services $205,088

  • 23 · Insurance

    total $36,429 · program services $36,429

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $143,255 · program services $143,255

  • 24b · Other expenses: PROGRAM EXPENSE

    total $24,810 · program services $24,810

  • 24c · Other expenses: TELEPHONE

    total $6,157 · program services $6,157

  • 24d · Other expenses: LICENSES AND PERMITS

    total $2,476 · program services $2,476

  • 24e · All other expenses

    total $2,406 · program services $2,406

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $507,588 · end of year $487,119

  • 4 · Accounts receivable

    beginning of year $195,939 · end of year $240,207

  • 10a · Land, buildings and equipment: cost or other basis

    $9,055,170

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,742,373

  • 10c · Land, buildings and equipment, net

    beginning of year $7,477,685 · end of year $7,312,797

  • 15 · Other assets

    beginning of year $49,326 · end of year $31,940

  • 17 · Accounts payable and accrued expenses

    beginning of year $126,496 · end of year $146,795

  • 19 · Deferred revenue

    beginning of year $7,360 · end of year $27,679

  • 23 · Secured mortgages and notes payable

    beginning of year $3,921,274 · end of year $3,868,385

  • 25 · Other liabilities

    beginning of year $35,876 · end of year $3,906

  • 27 · Net assets without donor restrictions

    beginning of year $4,139,532 · end of year $4,025,298

Mission and programs · 2023

Mission

GREAT FALLS HOUSING CORPORATION IS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION WITH THE MISSION OF CREATING AFFORDABLE HOUSING IN THE CITY OF PATERSON.

  • AFFORDABLE HOUSING FOR CHARITABLE PURPOSES.

    Expenses $621,345 · Revenue $382,364

As filed on the 2023 return.

Listed in Part VII

  • Robert F Guarasci

    CHAIR/PRESIDENT

    Total calculated
    $269,573
    From this org
    $0
    From related orgs
    $257,151
    Other
    $12,422
    Hours/week
    4 + 62 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,151 related
    Bonus
    $0 + $40,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,422 related
    Filer's total
    $0 + $269,573 related

  • Martin Vergara

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4 + 1 related

  • Michael Deblasio

    SECRETARY/TREASURER

    Total calculated
    $140,152
    From this org
    $0
    From related orgs
    $139,791
    Other
    $361
    Hours/week
    1 + 43 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ELM STREET SUPPORTIVE HOUSING LLC

    RENTAL ACTIVITY · NJ

    Directly controlled by GREAT FALLS HOUSING CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501359349315550

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.