Form 990 for tax year 2024
Filed by FORESIGHT AFFORDABLE HOUSING PENNSVILLE INC.
Totals
- Total revenue
- $1,825,159
- Total expenses
- $1,790,289
- Contributions and grants received
- $162,768
- Grants paid
- $0
- Program service revenue
- $1,507,678
- Investment income
- $31,043
- Other revenue
- $123,670
- Total assets, end of year
- $2,784,401
- Total liabilities, end of year
- $6,948,561
- Net assets or fund balances, end of year
- -$4,164,160
- Program services expenses (Part IX)
- $1,684,223
- Management and general expenses
- $106,066
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,684,223
Program services were 94.1% 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)
$37,001
-
1f · All other contributions, gifts and grants
$125,767
-
2a · Program service revenue: RENTAL INCOME
total $1,507,678 · related or exempt $1,507,678
-
3 · Investment income
total $31,043 · excluded $31,043
-
11a · Other revenue: OTHER REVENUE-MISC.
total $108,757 · related or exempt $108,757
-
11b · Other revenue: LAUNDRY & VENDING
total $8,328 · related or exempt $8,328
-
11c · Other revenue: INSURANCE PROCEEDS
total $5,685 · related or exempt $5,685
-
11d · All other revenue
total $900 · related or exempt $900
-
11e · Other revenue, total
$123,670
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $238,851 · program services $238,851
-
9 · Other employee benefits
total $26,100 · program services $26,100
-
10 · Payroll taxes
total $21,959 · program services $21,959
-
11a · Fees: management
total $88,207 · management and general $88,207
-
11b · Fees: legal
total $1,331 · management and general $1,331
-
11c · Fees: accounting
total $16,528 · management and general $16,528
-
11g · Fees: other
total $3,302 · program services $3,302
-
12 · Advertising and promotion
total $3,298 · program services $3,298
-
13 · Office expenses
total $38,333 · program services $38,333
-
16 · Occupancy
total $291,107 · program services $291,107
-
20 · Interest
total $334,083 · program services $334,083
-
22 · Depreciation, depletion and amortization
total $219,238 · program services $219,238
-
23 · Insurance
total $59,262 · program services $59,262
-
24a · Other expenses: REPAIRS
total $205,576 · program services $205,576
-
24b · Other expenses: RESIDUAL RECEIPTS RECAP
total $153,721 · program services $153,721
-
24c · Other expenses: SOCIAL SERVICES EXPENSE
total $76,922 · program services $76,922
-
24d · Other expenses: SUPPLIES
total $10,875 · program services $10,875
-
24e · All other expenses
total $1,596 · program services $1,596
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $46,814 · end of year $351,400
-
4 · Accounts receivable
beginning of year $48,277 · end of year $40,127
-
9 · Prepaid expenses and deferred charges
beginning of year $13,202 · end of year $31,719
-
10a · Land, buildings and equipment: cost or other basis
$8,020,682
-
10b · Land, buildings and equipment: accumulated depreciation
$7,192,307
-
10c · Land, buildings and equipment, net
beginning of year $1,026,073 · end of year $828,375
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $1,489,204 · end of year $1,532,780
-
17 · Accounts payable and accrued expenses
beginning of year $84,689 · end of year $234,577
-
19 · Deferred revenue
beginning of year $11,900 · end of year $14,312
-
23 · Secured mortgages and notes payable
beginning of year $6,688,571 · end of year $6,604,928
-
25 · Other liabilities
beginning of year $37,440 · end of year $94,744
-
27 · Net assets without donor restrictions
beginning of year -$4,199,030 · end of year -$4,164,160
Mission and programs · 2024
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 $1,684,223 · Revenue $1,631,348
-
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 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Bruce JohnsonDR BRUCE JOHNSON
PRESIDENT
- Total calculated
- $52,058
- From this org
- $0
- From related orgs
- $36,291
- Other
- $15,767
- Hours/week
- 1 + 20 related
-
E James Henderson JrE JAMES HENDERSON JR
VICE PRES./ASST. SEC
- Total calculated
- $20,460
- From this org
- $0
- From related orgs
- $20,460
- Other
- $0
- Hours/week
- 1 + 10 related
-
Michael ByrnesMICHAEL BYRNES
SECRETARY/TREASURER
- Total calculated
- $4,000
- From this org
- $0
- From related orgs
- $4,000
- Other
- $0
- Hours/week
- 1 + 5 related
-
Lynda BarnessLYNDA BARNESS
TRUSTEE
- Total calculated
- $4,000
- From this org
- $0
- From related orgs
- $4,000
- Other
- $0
- Hours/week
- 1 + 1 related
-
Janvier OsbornJANVIER OSBORN
TRUSTEE
- Total calculated
- $4,000
- From this org
- $0
- From related orgs
- $4,000
- Other
- $0
- Hours/week
- 1 + 1 related
-
Gerald SchwamGERALD SCHWAM
TRUSTEE
- Total calculated
- $4,000
- From this org
- $0
- From related orgs
- $4,000
- Other
- $0
- Hours/week
- 1 + 1 related
-
Donald ReapeDONALD REAPE
FORMER PRESIDENT
- Total calculated
- $116,499
- From this org
- $0
- From related orgs
- $105,126
- Other
- $11,373
- Hours/week
- 1 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $105,126 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $3,154 related
- Nontaxable benefits
- $0 + $8,219 related
- Filer's total
- $0 + $116,499 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.
-
FORESIGHT AFFORDABLE HOUSING INC
501(C)(3) · REAL ESTATE · NJ
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 4 June 2025
- IRS schema version
- 2024v5.1
- Source object
- 202511909349300816
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