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Nonprofiteer
← CHS CHARITABLE FOUNDATION INC

Form 990 for tax year 2022

Filed by CHS CHARITABLE FOUNDATION INC.

Totals

Total revenue
$2,822,033
Total expenses
$351,320
Contributions and grants received
$2,733,710
Grants paid
$158,123
Program service revenue
$88,323
Investment income
$0
Other revenue
$0
Total assets, end of year
$12,931,949
Total liabilities, end of year
$10,461,236
Net assets or fund balances, end of year
$2,470,713
Program services expenses (Part IX)
$351,320
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$351,320

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.

  • 1f · All other contributions, gifts and grants

    $2,733,710

  • 1g · Noncash contributions included above

    $2,099,653

  • 2a · Program service revenue: RENTAL INCOME

    total $88,323 · related or exempt $88,323

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $158,123 · program services $158,123

  • 11g · Fees: other

    total $12,500 · program services $12,500

  • 20 · Interest

    total $43,420 · program services $43,420

  • 22 · Depreciation, depletion and amortization

    total $137,277 · program services $137,277

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $428,333

  • 4 · Accounts receivable

    end of year $65,000

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

    $12,510,774

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

    $103,928

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $12,406,846

  • 15 · Other assets

    beginning of year $0 · end of year $31,770

  • 23 · Secured mortgages and notes payable

    end of year $10,461,236

  • 27 · Net assets without donor restrictions

    end of year $2,470,713

Mission and programs · 2022

Mission

THE CHS CHARITABLE FOUNDATION, INC. WAS ESTABLISHED TO SUPPORT THE CONSTRUCTION OF AN EARLY HEAD START CHILD DEVELOPMENT CENTER IN HAMILTON, NEW JERSEY, AND THE RENOVATION OF THE CHILDREN'S HOME SOCIETY OF NEW JERSEY'S HEADQUARTERS IN TRENTON, NEW JERSEY. THE FOUNDATION WILL LEASE THE COMPLETED FACILITIES TO THE CHILDREN'S HOME SOCIETY. THIS PROJECT IS FINANCED THROUGH THE NEW MARKETS TAX CREDIT (NMTC) PROGRAM, WHICH IS A FEDERAL TAX CREDIT INITIATIVE DESIGNED TO ENCOURAGE INVESTMENT IN LOW-INCOME COMMUNITIES.

Activities or mission (Part I)

TO SUPPORT THE CONSTRUCTION OF AN EARLY HEAD START CHILD DEVELOPMENT CENTER IN HAMILTON, NJ AND THE RENOVATION OF THE CHILDREN'S HOME SOCIETY OF NEW JERSEY'S HEADQUARTERS IN TRENTON, NJ

  • THE CHS CHARITABLE FOUNDATION, INC. BENEFITS, FINANCIALLY AND/OR OPERATIONALLY, THE DEVELOPMENT OF AN EARLY HEAD START CHILD DEVELOPMENT CENTER IN HAMILTON, NEW JERSEY, AND THE RENOVATION OF THE CHILDREN'S HOME SOCIETY OF NEW JERSEY'S HEADQUARTERS IN TRENTON, NEW JERSEY.

    Expenses $351,320 · Grants $158,123 · Revenue $88,323

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donna C Pressma

    PRESIDENT

    Total calculated
    $302,612
    From this org
    $0
    From related orgs
    $285,728
    Other
    $16,884
    Hours/week
    1 + 62 related

    Schedule J breakdown matched by us

    Base
    $0 + $285,728 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $10,884 related
    Filer's total
    $0 + $302,612 related

  • Bruno Cellucci

    SECRETARY & TREASURER

    Total calculated
    $96,815
    From this org
    $0
    From related orgs
    $82,999
    Other
    $13,816
    Hours/week
    1 + 55 related

  • James Shea

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Alan Zulick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William Sheehy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter Guzzo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
21 March 2024
IRS schema version
2022v5.0
Source object
202440829349300174

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