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Nonprofiteer
← HARBORSIDE APARTMENTS INC

Form 990 for tax year 2023

Filed by HARBORSIDE APARTMENTS INC.

Totals

Total revenue
$74,918
Total expenses
$93,172
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$73,725
Investment income
$1,193
Other revenue
$0
Total assets, end of year
$515,606
Total liabilities, end of year
$59,894
Net assets or fund balances, end of year
$455,712
Program services expenses (Part IX)
$69,777
Management and general expenses
$23,395
Fundraising expenses
$0
Program service expenses (Part III)
$69,777

Program services were 74.9% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $73,725 · related or exempt $73,725

  • 3 · Investment income

    total $1,193 · excluded $1,193

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $15,000 · program services $15,000

  • 11c · Fees: accounting

    total $14,049 · management and general $14,049

  • 16 · Occupancy

    total $19,973 · program services $19,973

  • 22 · Depreciation, depletion and amortization

    total $22,202 · program services $22,202

  • 24a · Other expenses: MAINTENANCE EXPENSES

    total $12,602 · program services $12,602

  • 24b · Other expenses: ADMIN. RENT FEE UNIT

    total $7,860 · management and general $7,860

  • 24e · All other expenses

    total $1,486 · management and general $1,486

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,535 · end of year $37,695

  • 4 · Accounts receivable

    beginning of year $5,816 · end of year $569

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

    $983,789

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

    $552,821

  • 10c · Land, buildings and equipment, net

    beginning of year $397,045 · end of year $430,968

  • 15 · Other assets

    beginning of year $65,990 · end of year $46,374

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $54,894

  • 25 · Other liabilities

    beginning of year $14,420 · end of year $5,000

  • 27 · Net assets without donor restrictions

    beginning of year $18,494 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $455,472 · end of year $455,712

Mission and programs · 2023

Mission

TO PROVIDE PERMANENT HOUSING TO PSYCHIATRICALLY DISABLED ADULTS.

  • HARBORSIDE APARTMENTS, INC. CONSTRUCTED A 9-UNIT RESIDENTIAL APARTMENT FACILITY FOR THE PURPOSE OF PROVIDING HOUSING FOR LOW-INCOME INDIVIDUALS WITH DISABILITIES. UNDER SECTION 8 OF THE HOUSING ACT, HARBORSIDE APARTMENTS, INC. HAS BEEN APPROVED TO RECEIVE SUBSIDY PAYMENTS FROM HUD CONSISTING OF THE DIFFERENCES BETWEEN THE CONTRACT RENT AND THE RENTS PAID BY THE TENANTS.

    Expenses $69,777 · Revenue $73,725

As filed on the 2023 return.

Listed in Part VII

  • Jennifer Mendrzycki

    PRESIDENT

    Total calculated
    $830,162
    From this org
    $0
    From related orgs
    $809,838
    Other
    $20,324
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $600,572 related
    Bonus
    $0 + $160,200 related
    Other
    $0 + $49,066 related
    Deferred
    $0 + $11,550 related
    Nontaxable benefits
    $0 + $8,774 related
    Filer's total
    $0 + $830,162 related

  • Christopher Caulfield

    TREASURER

    Total calculated
    $396,752
    From this org
    $0
    From related orgs
    $382,582
    Other
    $14,170
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $320,531 related
    Bonus
    $0 + $51,183 related
    Other
    $0 + $10,868 related
    Deferred
    $0 + $9,900 related
    Nontaxable benefits
    $0 + $4,270 related
    Filer's total
    $0 + $396,752 related

  • Tina Miles

    TRUSTEE

    Total calculated
    $255,280
    From this org
    $0
    From related orgs
    $239,085
    Other
    $16,195
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,000 related
    Bonus
    $0 + $31,788 related
    Other
    $0 + $1,297 related
    Deferred
    $0 + $9,406 related
    Nontaxable benefits
    $0 + $6,789 related
    Filer's total
    $0 + $255,280 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:
ST. JOSEPH'S HEALTH, INC. UNDERTAKES A RIGOROUS PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL AND BOARD OF TRUSTEES HAS ESTABLISHED A COMPENSATION COMMITTEE COMPRISED OF COMPENSATION ARRANGEMENT. THE BOARD OF TRUSTEES USES AN INDEPENDENT COMPENSATION CONSULTANT TO ALL OFFICERS OF THE ORGANIZATION IS REASONABLE. IN RELEVANT PART, THE INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED HELP ADVISE ON THE APPROPRIATE COMPENSATION LEVELS FOR THE AFOREMENTIONED INDIVIDUALS. THAT COMPENSATION CONSULTANT WILL USE COMPARABILITY OR BENCHMARKING DATA (BASED ON INDUSTRY SURVEYS) THAT DOCUMENTS THE COMPENSATION OF PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. ONCE THE COMPENSATION CONSULTANT HAS MADE ITS RECOMMENDATIONS, ST. JOSEPH'S HEALTH, INC.'S COMPENSATION COMMITTEE MUST APPROVE THE COMPENSATION, WITHOUT INPUT OR VOTING PARTICIPATION BY THE PERSON WHOSE COMPENSATION IS BEING APPROVED OR BY ANY OTHER INDIVIDUAL WITH A CONFLICT OF INTEREST. THE FINAL DETERMINATION IS THEN DOCUMENTED IN COMMITTEE MINUTES. THOSE MINUTES WILL CONTAIN THE TERMS OF THE PROPOSED COMPENSATION, THE DECISIONS OF THOSE INDIVIDUALS WHO VOTED ON THE COMPENSATION, AND THE COMPARABILITY DATA THAT WAS RELIED UPON. THE FINAL DETERMINATION IS THEN DOCUMENTED IN COMMITTEE MINUTES. DECISIONS OF THOSE INDIVIDUALS WHO VOTED ON THE COMPENSATION, AND THE PARTICIPANTS WHO ARE EMPLOYED THROUGHOUT A PLAN YEAR SHALL BE ELIGIBLE THOSE MINUTES WILL CONTAIN THE TERMS OF THE PROPOSED COMPENSATION, THE COMPARABILITY DATA THAT WAS RELIED UPON.
PART I, LINE 4B:
PARTICIPANTS WHO ARE EMPLOYED THROUGHOUT A PLAN YEAR SHALL BE ELIGIBLE FOR THE PLAN CONTRIBUTIONS FOR SUCH PLAN YEAR. PARTICIPANTS WHO ARE HIRED AFTER THE START OF A PLAN YEAR OR WHO BECOME ELIGIBLE FOR PARTICIPATION DURING THE COURSE OF A PLAN YEAR DUE TO PROMOTION SHALL BE ELIGIBLE TO RECEIVE A PRO-RATED SERP CONTRIBUTION. IN 2023, CERTAIN EXECUTIVES PARTICPATED IN THE 457F (SERP) PROGRAM. THE FOLLOWING CONTRIBUTIONS WERE MADE IN 2023: JENNIFER MENDRZYCKI - $45,008

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.

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.

  • VHSNJ AT HOME LLC CO TAX

    HEALTHCARE · NJ

    Directly controlled by SJUMC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SJHS INSURANCE LIMITED

    C · CAPTIVE INSURANCE · BD

    Directly controlled by SJH INC

  • ST JOSEPH'S HOSPITAL HOUSING CORP

    C · HOUSING · NJ

    Directly controlled by SJUMC

  • ST JOSEPH'S HEALTH PHARAMCY LLC

    C · PHARMACY · NJ

    Directly controlled by SJUMC

  • ST JOSEPH'S HEALTH PARTNERS LLC

    C · VALUE BASED MANAGED CARE · NJ

    Directly controlled by SJUMC

  • ST JOSEPH'S SURGERY MANAGEMENT

    C · MGMT SERVICES · NJ

    Directly controlled by SJUMC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349323424

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