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Nonprofiteer
← FORESIGHT AFFORDABLE HOUSING PENNSVILLE INC

Form 990 for tax year 2022

Filed by FORESIGHT AFFORDABLE HOUSING PENNSVILLE INC.

Totals

Total revenue
$1,551,863
Total expenses
$6,283,139
Contributions and grants received
$41,869
Grants paid
$4,861,815
Program service revenue
$1,509,424
Investment income
$570
Other revenue
$0
Total assets, end of year
$2,795,136
Total liabilities, end of year
$6,890,314
Net assets or fund balances, end of year
-$4,095,178
Program services expenses (Part IX)
$6,161,840
Management and general expenses
$121,299
Fundraising expenses
$0
Program service expenses (Part III)
$6,161,840

Program services were 98.1% 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)

    $41,869

  • 2a · Program service revenue: 202 RENTAL INCOME

    total $1,460,410 · related or exempt $1,460,410

  • 2b · Program service revenue: OTHER PROGRAM INCOME

    total $49,014 · related or exempt $49,014

  • 3 · Investment income

    total $570 · related or exempt $570

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,861,815 · program services $4,861,815

  • 7 · Other salaries and wages

    total $222,101 · program services $222,101

  • 9 · Other employee benefits

    total $12,095 · program services $12,095

  • 10 · Payroll taxes

    total $20,740 · program services $20,740

  • 11a · Fees: management

    total $82,308 · management and general $82,308

  • 11c · Fees: accounting

    total $16,487 · management and general $16,487

  • 11g · Fees: other

    total $18,015 · program services $7,599 · management and general $10,416

  • 12 · Advertising and promotion

    total $1,515 · program services $1,515

  • 13 · Office expenses

    total $9,698 · program services $9,698

  • 16 · Occupancy

    total $234,167 · program services $234,167

  • 20 · Interest

    total $213,868 · program services $213,868

  • 22 · Depreciation, depletion and amortization

    total $210,278 · program services $210,278

  • 23 · Insurance

    total $53,621 · program services $53,621

  • 24a · Other expenses: REPAIRS

    total $114,671 · program services $114,671

  • 24b · Other expenses: SOCIAL SERVICES EXPENSES

    total $72,320 · program services $72,320

  • 24c · Other expenses: CLEANING/MAINTENANCE

    total $55,772 · program services $55,772

  • 24d · Other expenses: SUPPLIES

    total $20,274 · program services $20,274

  • 24e · All other expenses

    total $63,394 · program services $51,306 · management and general $12,088

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,714 · end of year $68,320

  • 4 · Accounts receivable

    beginning of year $47,973 · end of year $41,899

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,767 · end of year $12,082

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

    $8,020,682

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

    $6,764,670

  • 10c · Land, buildings and equipment, net

    beginning of year $1,466,290 · end of year $1,256,012

  • 15 · Other assets

    beginning of year $1,091,163 · end of year $1,416,823

  • 17 · Accounts payable and accrued expenses

    beginning of year $77,779 · end of year $74,711

  • 19 · Deferred revenue

    beginning of year $10,939 · end of year $8,936

  • 23 · Secured mortgages and notes payable

    beginning of year $1,922,286 · end of year $6,768,063

  • 25 · Other liabilities

    beginning of year $35,798 · end of year $38,604

  • 27 · Net assets without donor restrictions

    beginning of year $636,105 · end of year -$4,095,178

Mission and programs · 2022

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

  • SERVICE COORDINATOR HUD GRANT NUMBER NJ39CS9700200

    Expenses $5,267,062 · Grants $4,861,815 · Revenue $1,509,897

  • 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

    Expenses $894,778

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

Listed in Part VII

  • Donald Reape

    PRESIDENT

    Total calculated
    $95,743
    From this org
    $0
    From related orgs
    $82,117
    Other
    $13,626
    Hours/week
    1 + 20 related

  • Dr Bruce Johnson

    VICE PRES./A

    Total calculated
    $47,024
    From this org
    $0
    From related orgs
    $33,392
    Other
    $13,632
    Hours/week
    1 + 10 related

  • E James Henderson Jr

    SECRETARY /T

    Total calculated
    $17,829
    From this org
    $0
    From related orgs
    $17,829
    Other
    $0
    Hours/week
    1 + 5 related

  • Lynda Barness

    TRUSTEE

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    0

  • Michael Byrnes

    TRUSTEE

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    0

  • Janvier Osborn

    TRUSTEE

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    0

  • Gerald Schwam

    TRUSTEE

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    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

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

    501C · REAL ESTAT · NJ

Provenance

Return type
form_990
Tax year
2022
Filed
1 March 2023
IRS schema version
2022v5.0
Source object
202321239349302842

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