Totals
- Total revenue
- $42,903
- Total expenses
- $85,583
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $42,903
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $676,626
- Total liabilities, end of year
- $1,175,805
- Net assets or fund balances, end of year
- -$499,179
- Program services expenses (Part IX)
- $85,583
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $85,583
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.
-
2a · Program service revenue: LOW INC HOUSING RENT
total $42,903 · related or exempt $42,903
Functional expenses
Part IX, the statement of functional expenses.
-
11g · Fees: other
total $2,952 · program services $2,952
-
16 · Occupancy
total $38,978 · program services $38,978
-
22 · Depreciation, depletion and amortization
total $31,686 · program services $31,686
-
23 · Insurance
total $3,085 · program services $3,085
-
24a · Other expenses: CLEANING & LANDSCAPING
total $8,882 · program services $8,882
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $445 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $42,899 · end of year $42,898
-
10a · Land, buildings and equipment: cost or other basis
$998,121
-
10b · Land, buildings and equipment: accumulated depreciation
$364,393
-
10c · Land, buildings and equipment, net
beginning of year $665,414 · end of year $633,728
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $812,886 · end of year $812,886
-
25 · Other liabilities
beginning of year $352,371 · end of year $362,919
-
27 · Net assets without donor restrictions
beginning of year -$456,499 · end of year -$499,179
Mission and programs · 2022
Mission
TO CONSTRUCT, OWN AND OPERATE SAFE, AFFORDABLE HOUSING UNITS ON BANCROFT, A NEW JERSEY NONPROFIT CORPORATION'S (BANCROFT) MULLICA HILL CAMPUS FOR CLIENTS OF BANCROFT WHO QUALIFY AS LOW INCOME AND TO ACT AS A SUPPORT ORGANIZATION FOR BANCROFT.
Activities or mission (Part I)
TO CONSTRUCT, OWN AND OPERATE SAFE, AFFORDABLE HOUSING UNITS FOR QUALIFIED LOW INCOME CLIENTS.
-
MULLICA HILL SNH OWNS AND OPERATES AFFORDABLE HOUSING UNITS INTENDED FOR USE BY QUALIFYING INDIVIDUALS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES. EXPENSES INCURRED RELATE DIRECTLY TO THE ORGANIZATION'S OPERATION OF 66 AFFORDABLE HOUSING UNITS ON THE LAKESIDE CAMPUS.
Expenses $85,583 · Revenue $42,903
As filed on the 2022 return.
Listed in Part VII
-
Toni PergolinTONI PERGOLIN
PRESIDENT AND CEO
- Total calculated
- $701,402
- From this org
- $0
- From related orgs
- $637,078
- Other
- $64,324
- Hours/week
- 1 + 44 related
Schedule J breakdown matched by us
- Base
- $0 + $567,078 related
- Bonus
- $0 + $70,000 related
- Other
- $0
- Deferred
- $0 + $26,600 related
- Nontaxable benefits
- $0 + $37,724 related
- Filer's total
- $0 + $701,402 related
-
Jennifer CrippsJENNIFER CRIPPS
TREASURER/CFO
- Total calculated
- $315,575
- From this org
- $0
- From related orgs
- $309,320
- Other
- $6,255
- Hours/week
- 2 + 43 related
Schedule J breakdown matched by us
- Base
- $0 + $272,506 related
- Bonus
- $0 + $15,385 related
- Other
- $0 + $21,429 related
- Deferred
- $0 + $6,055 related
- Nontaxable benefits
- $0 + $200 related
- Filer's total
- $0 + $315,575 related
-
Kathy RossKATHY ROSS
SECRETARY/EXECUTIVE LIAISON
- Total calculated
- $178,368
- From this org
- $0
- From related orgs
- $137,707
- Other
- $40,661
- Hours/week
- 2 + 43 related
Schedule J breakdown matched by us
- Base
- $0 + $127,707 related
- Bonus
- $0 + $10,000 related
- Other
- $0
- Deferred
- $0 + $2,937 related
- Nontaxable benefits
- $0 + $37,724 related
- Filer's total
- $0 + $178,368 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
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 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
The filer's explanations (Part III)
- PART I, LINE 3
- THE ORGANIZATION DOES NOT COMPENSATE TOP MANAGEMENT OFFICIALS, OFFICERS, OR KEY EMPLOYEES. THESE INDIVIDUALS ARE COMPENSATED BY BANCROFT, A NEW JERSEY NONPROFIT CORPORATION, A RELATED ORGANIZATION. THE RELATED ORGANIZATION CHECKS THE FOLLOWING BOXES ON ITS SCHEDULE J, LINE 3: COMPENSATION COMMITTEE APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
- PART I, LINE 4B
- SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN BANCROFT, THE RELATED ORGANIZATION, HAS A SPLIT DOLLAR POLICY. ADDITIONALLY, ONE INDIVIDUAL LISTED ON PART VII PARTICIPATES IN AN INSURANCE POLICY PROGRAM ADMINISTERED BY THE RELATED ORGANIZATION, BANCROFT.
- PART I, LINE 7
- NONFIXED PAYMENTS INCENTIVE COMPENSATION PAYMENTS WERE MADE BY A RELATED ORGANIZATION TO PERSONS LISTED ON PART VII, SECTION A. THE RELATED ORGANIZATION DETERMINED THE PAYMENTS BASED ON PERFORMANCE AGAINST GOALS SET PRIOR TO THE START OF THE FISCAL YEAR. THE AMOUNTS OF THE PAYMENTS RANGED FROM $9,485 AND $70,000 FOR INDIVIDUALS LISTED ON THIS ORGANIZATION'S RETURN.
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.
-
BANCROFT A NEW JERSEY NONPROFIT CORPORATION
501(C)(3) · SCHOOL · NJ
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.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
BRICK SNH URBAN RENEWAL LP
LOW INCOME HOUSING · NJ
-
BNH URBAN RENEWAL LP
LOW INCOME HOUSING · NJ
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
BNH OF BRICK INC
C · LOW INCOME HOUSING · NJ
Directly controlled by BANCROFT
-
BNH OF ECHELON INC
C · LOW INCOME HOUSING · NJ
Directly controlled by BANCROFT
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401349349303505
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