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Nonprofiteer
← FRANKFORD SENIOR HOUSING ASSOCIATES

Form 990 for tax year 2022

Filed by FRANKFORD SENIOR HOUSING ASSOCIATES.

Totals

Total revenue
$586,331
Total expenses
$722,884
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$584,055
Investment income
$2,276
Other revenue
$0
Total assets, end of year
$3,771,400
Total liabilities, end of year
$667,069
Net assets or fund balances, end of year
$3,104,331
Program services expenses (Part IX)
$722,884
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$722,884

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: Tenant Rent Charges

    total $171,098 · related or exempt $171,098 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Governments Rent Subsidy

    total $412,957 · related or exempt $412,957 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,276 · related or exempt $2,276 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $118,313 · program services $118,313 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $29,484 · program services $29,484 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $11,819 · program services $11,819 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $30,792 · program services $30,792 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $16,403 · program services $16,403 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $23,902 · program services $23,902 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $177,536 · program services $177,536 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $220,008 · program services $220,008 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $49,718 · program services $49,718 · management and general $0 · fundraising $0

  • 24a · Other expenses: Service Coordinator

    total $40,559 · program services $40,559 · management and general $0 · fundraising $0

  • 24b · Other expenses: Bad Debt

    total $4,350 · program services $4,350 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,065 · end of year $14,587

  • 2 · Savings and temporary cash investments

    beginning of year $170,876 · end of year $155,496

  • 3 · Pledges and grants receivable

    beginning of year $307,793 · end of year $803

  • 4 · Accounts receivable

    beginning of year $32,534 · end of year $4,819

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,191 · end of year $26,056

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

    $4,462,570

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

    $907,453

  • 10c · Land, buildings and equipment, net

    beginning of year $3,672,045 · end of year $3,555,117

  • 15 · Other assets

    beginning of year $13,252 · end of year $14,522

  • 17 · Accounts payable and accrued expenses

    beginning of year $684,603 · end of year $390,561

  • 19 · Deferred revenue

    beginning of year $31,889 · end of year $2,552

  • 21 · Escrow or custodial account liability

    beginning of year $12,148 · end of year $13,440

  • 25 · Other liabilities

    beginning of year $260,516 · end of year $260,516

  • 27 · Net assets without donor restrictions

    beginning of year -$1,043,438 · end of year -$1,179,991

  • 28 · Net assets with donor restrictions

    beginning of year $4,288,038 · end of year $4,284,322

Mission and programs · 2022

Mission

To promote the general health, welfare, and security of seniors by providing affordable housing and service coordinator assistance.

Activities or mission (Part I)

This business owns and operates a 50-Unit Apartment building that rents HUD-subsidized apartments to senior citizens.

  • Frankford Senior Housing Assocaties is a non-profit owner and operator of a 50-unit apartment building that houses senior citizens. All tenants receive subsidy under HUD section 202 program. Occupancy began in 1997.

    Expenses $722,884 · Revenue $586,331

As filed on the 2022 return.

Listed in Part VII

  • Tim McGrath

    Chairman

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joe Duffey

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Drew Siebert

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mary Naylor

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Steve Mullin

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Neil Pitts

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Max Kent

    President

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mike DeMarco

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Ungar

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Paul Funaro

    Assistant Secretayr

    Total calculated
    $0
    Hours/week
    1 + 1 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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202411309349304091

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