Form 990 for tax year 2023
Filed by FORESIGHT AFFORDABLE HOUSING PENNSVILLE INC.
Totals
- Total revenue
- $1,601,905
- Total expenses
- $1,705,757
- Contributions and grants received
- $45,544
- Grants paid
- $0
- Program service revenue
- $1,532,626
- Investment income
- $4,489
- Other revenue
- $19,246
- Total assets, end of year
- $2,623,570
- Total liabilities, end of year
- $6,822,600
- Net assets or fund balances, end of year
- -$4,199,030
- Program services expenses (Part IX)
- $1,602,083
- Management and general expenses
- $103,674
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,602,083
Program services were 93.9% 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)
$45,544
-
2a · Program service revenue: RENTAL INCOME
total $1,532,626 · related or exempt $1,532,626
-
3 · Investment income
total $4,489 · excluded $4,489
-
11a · Other revenue: LAUNDRY & VENDING
total $8,937 · related or exempt $8,937
-
11b · Other revenue: OTHER REVENUE-MISC.
total $8,498 · related or exempt $8,498
-
11c · Other revenue: TENANT CHARGES
total $1,811 · related or exempt $1,811
-
11e · Other revenue, total
$19,246
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $240,161 · program services $240,161
-
9 · Other employee benefits
total $16,057 · program services $16,057
-
10 · Payroll taxes
total $22,393 · program services $22,393
-
11a · Fees: management
total $82,962 · management and general $82,962
-
11b · Fees: legal
total $337 · management and general $337
-
11c · Fees: accounting
total $20,375 · management and general $20,375
-
11g · Fees: other
total $6,577 · program services $6,577
-
12 · Advertising and promotion
total $1,785 · program services $1,785
-
13 · Office expenses
total $41,027 · program services $41,027
-
16 · Occupancy
total $342,146 · program services $342,146
-
20 · Interest
total $338,234 · program services $338,234
-
22 · Depreciation, depletion and amortization
total $251,478 · program services $251,478
-
23 · Insurance
total $66,133 · program services $66,133
-
24a · Other expenses: REPAIRS
total $197,445 · program services $197,445
-
24b · Other expenses: SOCIAL SERVICES EXPENSE
total $74,555 · program services $74,555
-
24c · Other expenses: SUPPLIES
total $4,092 · program services $4,092
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $68,320 · end of year $46,814
-
4 · Accounts receivable
beginning of year $41,899 · end of year $48,277
-
9 · Prepaid expenses and deferred charges
beginning of year $12,082 · end of year $13,202
-
10a · Land, buildings and equipment: cost or other basis
$8,020,682
-
10b · Land, buildings and equipment: accumulated depreciation
$6,994,609
-
10c · Land, buildings and equipment, net
beginning of year $1,256,012 · end of year $1,026,073
-
15 · Other assets
beginning of year $1,416,823 · end of year $1,489,204
-
17 · Accounts payable and accrued expenses
beginning of year $74,711 · end of year $84,689
-
19 · Deferred revenue
beginning of year $8,936 · end of year $11,900
-
23 · Secured mortgages and notes payable
beginning of year $6,768,063 · end of year $6,688,571
-
25 · Other liabilities
beginning of year $38,604 · end of year $37,440
-
27 · Net assets without donor restrictions
beginning of year -$4,095,178 · end of year -$4,199,030
Mission and programs · 2023
Mission
TO MAINTAIN AND OTHERWISE PROVIDE HOUSING FACILITIES AND SERVICE THROUGH HOUSING ASSISTANCE WITH HUD WHICH IS DESIGNED TO MEET THE PARTICULAR NEEDS OF THE INHABITANTS OF HUD PROJECT #035-EH016
Activities or mission (Part I)
TO MAINTAIN AND OTHERWISE PROVIDE HOUSING FACILITIES AND SERVICE THROUGH HOUSING ASSISTANCE WITH HUD WHICH IS DESIGNED TO MEET THE PARTICULAR NEED OF THE INHABITANTS OF HUD PROJECT #035-EH016
-
SERVICE COORDINATOR HUD GRANT NUMBER NJ39CS9700200
Expenses $1,602,083 · Revenue $1,551,872
-
TO MAINTAIN AND OTHERWISE PROVIDE HOUSING FACILITIES AND SERVICE THROUGH HOUSING ASSISTANCE WITH HUD WHICH IS DESIGNED TO MEET THE PARTICULAR NEEDS OF THE INHABITANTS OF HUD PROJECT # 035-EH016
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Donald ReapeDONALD REAPE
PRESIDENT
- Total calculated
- $118,651
- From this org
- $0
- From related orgs
- $110,272
- Other
- $8,379
- Hours/week
- 1 + 20 related
-
Dr Bruce JohnsonDR BRUCE JOHNSON
VICE PRES./ASST. SEC
- Total calculated
- $35,942
- From this org
- $0
- From related orgs
- $21,103
- Other
- $14,839
- Hours/week
- 1 + 10 related
-
E James Henderson JrE JAMES HENDERSON JR
SECRETARY/TREASURER
- Total calculated
- $19,812
- From this org
- $0
- From related orgs
- $19,812
- Other
- $0
- Hours/week
- 1 + 5 related
-
Lynda BarnessLYNDA BARNESS
TRUSTEE
- Total calculated
- $3,000
- From this org
- $0
- From related orgs
- $3,000
- Other
- $0
- Hours/week
- 0
-
Michael ByrnesMICHAEL BYRNES
TRUSTEE
- Total calculated
- $3,000
- From this org
- $0
- From related orgs
- $3,000
- Other
- $0
- Hours/week
- 0
-
Janvier OsbornJANVIER OSBORN
TRUSTEE
- Total calculated
- $3,000
- From this org
- $0
- From related orgs
- $3,000
- Other
- $0
- Hours/week
- 0
-
Gerald SchwamGERALD SCHWAM
TRUSTEE
- Total calculated
- $3,000
- From this org
- $0
- From related orgs
- $3,000
- Other
- $0
- Hours/week
- 0
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.
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.
-
FORESIGHT AFFORDABLE HOUSING INC
501(C)(3) · REAL ESTATE · NJ
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 10 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411349349303461
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