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Nonprofiteer
← CENTER PARK II INC

Form 990 for tax year 2022

Filed by CENTER PARK II INC.

Totals

Total revenue
$609,552
Total expenses
$627,175
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$604,334
Investment income
$5,218
Other revenue
$0
Total assets, end of year
$3,868,210
Total liabilities, end of year
$127,260
Net assets or fund balances, end of year
$3,740,950
Program services expenses (Part IX)
$566,926
Management and general expenses
$60,249
Fundraising expenses
$0
Program service expenses (Part III)
$566,926

Program services were 90.4% 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 ASSISTANCE PROG

    total $383,067 · related or exempt $383,067

  • 2b · Program service revenue: RENT REVENUE

    total $208,980 · related or exempt $208,980

  • 2c · Program service revenue: LAUNDRY AND VENDING

    total $6,185 · related or exempt $6,185

  • 2d · Program service revenue: MISCELLANEOUS REVENUE

    total $6,052 · related or exempt $6,052

  • 2e · Program service revenue: TENANT CHARGES

    total $50 · related or exempt $50

  • 3 · Investment income

    total $5,218 · excluded $5,218

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $130,378 · program services $130,378

  • 9 · Other employee benefits

    total $20,667 · program services $20,667

  • 10 · Payroll taxes

    total $8,849 · program services $8,849

  • 11a · Fees: management

    total $45,797 · management and general $45,797

  • 11c · Fees: accounting

    total $14,452 · management and general $14,452

  • 12 · Advertising and promotion

    total $1,195 · program services $1,195

  • 13 · Office expenses

    total $14,880 · program services $14,880

  • 16 · Occupancy

    total $86,730 · program services $86,730

  • 17 · Travel

    total $60 · program services $60

  • 19 · Conferences, conventions and meetings

    total $1,358 · program services $1,358

  • 22 · Depreciation, depletion and amortization

    total $202,325 · program services $202,325

  • 23 · Insurance

    total $23,005 · program services $23,005

  • 24a · Other expenses: MAINTENANCE AND REPAIRS

    total $52,231 · program services $52,231

  • 24b · Other expenses: MAINTENANCE SUPPLIES

    total $11,474 · program services $11,474

  • 24c · Other expenses: TRASH REMOVAL

    total $4,431 · program services $4,431

  • 24d · Other expenses: SNOW REMOVAL

    total $612 · program services $612

  • 24e · All other expenses

    total $8,731 · program services $8,731

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,681 · end of year $67,247

  • 4 · Accounts receivable

    beginning of year $15,700 · end of year $25

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,049 · end of year $1,855

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

    $7,230,391

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

    $3,698,734

  • 10c · Land, buildings and equipment, net

    beginning of year $3,591,795 · end of year $3,531,657

  • 13 · Investments: program-related

    beginning of year $189,826 · end of year $251,805

  • 15 · Other assets

    beginning of year $15,251 · end of year $15,621

  • 17 · Accounts payable and accrued expenses

    beginning of year $53,746 · end of year $106,666

  • 19 · Deferred revenue

    beginning of year $2,621 · end of year $5,322

  • 25 · Other liabilities

    beginning of year $14,902 · end of year $15,272

  • 27 · Net assets without donor restrictions

    beginning of year -$1,377,167 · end of year -$1,402,250

  • 28 · Net assets with donor restrictions

    beginning of year $5,143,200 · end of year $5,143,200

Mission and programs · 2022

Mission

THE MISSION IS TO PROVIDE AFFORDABLE HOUSING OPPORTUNITIES FOR LOW-INCOME SENIORS WHO ARE ABLE TO SUSTAIN THEMSELVES IN AN INDEPENDENT LIVING ENVIRONMENT, TO CREATE FACILITIES WHERE OUR RESIDENTS CAN RESIDE AND SOCIALIZE WHILE MAINTAINING A HIGH QUALITY OF LIFE AND ACTIVITY, AND TO HAVE OUR FACILITIES AVAILABLE TO AS MANY SENIORS AS POSSIBLE BY DEVELOPING ADDITIONAL BUILDINGS IN PHILADELPHIA AND THE SURROUNDING SUBURBS.

Activities or mission (Part I)

TO PROVIDE SAFE, AFFORDABLE AND WELL MANAGED HOUSING TO LOW-INCOME SENIORS.

  • PROVIDES AFFORDABLE HOUSING OPPORTUNITIES FOR LOW-INCOME SENIORS BY SERVING 66 RESIDENTS IN 61 UNITS, WHO SUSTAIN THEMSELVES IN INDEPENDENT LIVING ENVIRONMENTS.

    Expenses $566,926 · Revenue $604,334

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

Listed in Part VII

  • Jay Weinstein

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Michael Davidson Esq

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Mitchell Goldberg

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Gary Rubin

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Karen Cohen

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Eric Naftulin

    EXECUTIVE DIRECTOR

    Total calculated
    $274,943
    From this org
    $0
    From related orgs
    $252,587
    Other
    $22,356
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,587 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,877 related
    Nontaxable benefits
    $0 + $9,479 related
    Filer's total
    $0 + $274,943 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FHI TREVOSE GP LLC

    HOUSING · PA · income $0 · assets $0

    Directly controlled by FHI

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • BYBERRY ELDERLY ASSOCIATES LP

    N/A · LOW-INCOME HOUSING · PA

    Directly controlled by FEDERATION HOUSING INC

  • CENTER PARK AFFORDABLE HOUSING LP

    N/A · LOW-INCOME HOUSING · PA

    Directly controlled by FEDERATION HOUSING INC

  • 509 ASHBOURNE LP

    N/A · LOW-INCOME HOUSING · PA

    Directly controlled by FEDERATION HOUSING INC

  • SOMERTON COURT RESIDENCES LP

    N/A · LOW-INCOME HOUSING · PA

    Directly controlled by FEDERATION HOUSING INC

  • DAVISVILLE SENIOR APARTMENTS LLC

    N/A · LOW-INCOME HOUSING · PA

    Directly controlled by FEDERATION HOUSING INC

Related corporations and trusts

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

  • CENTER PARK GP INC

    C · MANAGEMENT OF FEDERALLY SUBSIDIZED HOUSING PROJECTS. · PA

  • EPHRAIM GOLDSTEIN HOUSE

    C · MANAGEMENT OF FEDERALLY SUBSIDIZED HOUSING PROJECTS. · PA

  • 509 ASHBOURNE GP LLC

    C · MANAGEMENT OF FEDERALLY SUBSIDIZED HOUSING PROJECTS. · PA

Provenance

Return type
form_990
Tax year
2022
Filed
9 July 2024
IRS schema version
2022v5.0
Source object
202421919349301602

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