Form 990 for tax year 2022
Filed by COMMUNITY ASSET PRESERVATION CORPORATION.
Totals
- Total revenue
- $4,257,789
- Total expenses
- $5,880,229
- Contributions and grants received
- $4,907,259
- Grants paid
- $40,000
- Program service revenue
- $642,221
- Investment income
- -$1,195,641
- Other revenue
- -$96,050
- Total assets, end of year
- $80,382,256
- Total liabilities, end of year
- $76,279,197
- Net assets or fund balances, end of year
- $4,103,059
- Program services expenses (Part IX)
- $5,829,377
- Management and general expenses
- $50,852
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,829,377
Program services were 99.1% 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)
$4,489,759
-
1f · All other contributions, gifts and grants
$417,500
-
2a · Program service revenue: MANAGEMENT FEES
total $642,221 · related or exempt $642,221
-
3 · Investment income
total $22,565 · excluded $22,565
-
6a · Gross rents
real property $2,668,936
-
6b · Less rental expenses
real property $2,764,986
-
6c · Rental income or loss
real property -$96,050
-
6d · Net rental income or loss
total -$96,050 · excluded -$96,050
-
7a · Gross sales of assets other than inventory
other assets $8,639,694
-
7b · Less cost or other basis and sales expenses
other assets $9,857,900
-
7c · Gain or loss
other assets -$1,218,206
-
7d · Net gain or loss
total -$1,218,206 · excluded -$1,218,206
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $40,000 · program services $40,000
-
7 · Other salaries and wages
total $3,083,478 · program services $3,052,643 · management and general $30,835
-
8 · Pension plan contributions
total $31,190 · program services $30,878 · management and general $312
-
9 · Other employee benefits
total $564,068 · program services $558,427 · management and general $5,641
-
10 · Payroll taxes
total $139,851 · program services $138,452 · management and general $1,399
-
11a · Fees: management
total $26,981 · program services $26,711 · management and general $270
-
11b · Fees: legal
total $323,824 · program services $323,824
-
11c · Fees: accounting
total $27,907 · program services $27,628 · management and general $279
-
11g · Fees: other
total $413,604 · program services $412,094 · management and general $1,510
-
12 · Advertising and promotion
total $2,510 · program services $2,485 · management and general $25
-
13 · Office expenses
total $165,147 · program services $163,610 · management and general $1,537
-
14 · Information technology
total $93,008 · program services $93,008
-
16 · Occupancy
total $93,518 · program services $92,583 · management and general $935
-
17 · Travel
total $39,073 · program services $38,997 · management and general $76
-
19 · Conferences, conventions and meetings
total $19,348 · program services $19,155 · management and general $193
-
20 · Interest
total $32,709 · program services $32,709
-
22 · Depreciation, depletion and amortization
total $717,423 · program services $710,249 · management and general $7,174
-
23 · Insurance
total $52,784 · program services $52,256 · management and general $528
-
24a · Other expenses: DUES, MEMBERSHIPS & SUB
total $13,806 · program services $13,668 · management and general $138
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,704,085 · end of year $7,277,043
-
2 · Savings and temporary cash investments
beginning of year $576,689 · end of year $576,103
-
7 · Other notes and loans receivable
beginning of year $1,330,660 · end of year $1,330,660
-
10a · Land, buildings and equipment: cost or other basis
$26,005,923
-
10b · Land, buildings and equipment: accumulated depreciation
$3,616,233
-
10c · Land, buildings and equipment, net
beginning of year $24,844,086 · end of year $22,389,690
-
15 · Other assets
beginning of year $45,532,562 · end of year $48,808,760
-
17 · Accounts payable and accrued expenses
beginning of year $816,397 · end of year $1,535,677
-
23 · Secured mortgages and notes payable
beginning of year $39,656,193 · end of year $45,022,949
-
25 · Other liabilities
beginning of year $28,795,596 · end of year $29,720,571
-
27 · Net assets without donor restrictions
beginning of year $2,990,429 · end of year $3,123,858
-
28 · Net assets with donor restrictions
beginning of year $2,729,467 · end of year $979,201
Mission and programs · 2022
Mission
TO STABILIZE NEIGHBORHOODS AND PROTECT HOUSEHOLDS SUSCEPTIBLE TO MORTGAGE FORECLOSURES, TO RETURN VACANT FORECLOSED PROPERTY TO PRODUCTIVE REUSE, BOTH EFFICIENTLY AND EQUITABLY, AND TO INCREASE THE AVAILABILITY OF AFFORDABLE HOUSING.
Activities or mission (Part I)
STABILIZE NEIGHBORHOODS, PROTECT HOUSEHOLD FORECLOSURE RISK, RETURN VACANT FORECLOSED PROPERTY.STABILIZE NEIGHBORHOODS, PROTECT HOUSEHOLD FORECLOSURE RISK, RETURN VACANT FORECLOSED PROPERTY TO HABITABLE CONDITIONS, AND TO INCREASE THE AVAILABILITY OF AFFORDABLE HOUSING.
-
TO STABILIZE NEIGHBORHOODS AND PROTECT COMMUNITIES. TO WORK WITH MUNICIPALITIES, LENDERS, AND COMMUNITY GROUPS TO TURN FORECLOSED PROPERTIES, VACANT BUILDINGS, AND ABANDONED HOMES INTO AFFORDABLE HOUSING. TO WORK WITH LENDERS TO ACQUIRE DISTRESSED MORTGAGE NOTES AND REOS TO PREVENT, OR AT LEAST LIMIT PROPERTIES FROM BECOMING NUISANCES IN COMMUNITIES. WORK WITH NUMEROUS COMMUNITY GROUPS, SOCIALLY-MINDED FOR-PROFIT ORGANIZATIONS, AND COMMUNITY DEVELOPMENT CORPORATIONS TO REVITALIZE PARTICULAR AREAS AND REHABILITATE HOMES.
Expenses $5,829,377 · Grants $40,000 · Revenue $642,221
As filed on the 2022 return.
Listed in Part VII
-
Gregg B GunselmanGREGG B GUNSELMAN
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Michelle E RichardsonMICHELLE E RICHARDSON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Linwood L RobbinsLINWOOD L ROBBINS
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Maria VizcarrondoMARIA VIZCARRONDO
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Evan WeissEVAN WEISS
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Pilar Hogan CloskeyPILAR HOGAN CLOSKEY
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Bryan LongBRYAN LONG
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Lyneir RichardsonLYNEIR RICHARDSON
BOARD DIRECTOR BEG 10/22
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Paul AlexanderPAUL ALEXANDER
BOARD DIRECTOR BEG 4/23
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Alle RiesALLE RIES
BOARD CHAIR TRM 9/22
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Bernel HallBERNEL HALL
PRESIDENT AND CEO
- Total calculated
- $331,633
- From this org
- $0
- From related orgs
- $307,428
- Other
- $24,205
- Hours/week
- 9 + 41 related
Schedule J breakdown matched by us
- Base
- $0 + $307,428 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $24,205 related
- Filer's total
- $0 + $331,633 related
-
Jacqueline RobinsonJACQUELINE ROBINSON
CHIEF FINANCIAL OFF TRM 5/22
- Total calculated
- $290,902
- From this org
- $0
- From related orgs
- $280,026
- Other
- $10,876
- Hours/week
- 9 + 41 related
Schedule J breakdown matched by us
- Base
- $0 + $280,026 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $10,876 related
- Filer's total
- $0 + $290,902 related
-
Marie MascherinMARIE MASCHERIN
CHIEF OPERATING OFF TRM 6/23
- Total calculated
- $291,656
- From this org
- $0
- From related orgs
- $282,289
- Other
- $9,367
- Hours/week
- 13 + 37 related
Schedule J breakdown matched by us
- Base
- $0 + $282,289 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $8,400 related
- Nontaxable benefits
- $0 + $967 related
- Filer's total
- $0 + $291,656 related
-
Melinda Colon-CoxMELINDA COLON-COX
GEN COUNSEL & CHIEF COMP OFFICER
- Total calculated
- $195,121
- From this org
- $0
- From related orgs
- $174,155
- Other
- $20,966
- Hours/week
- 9 + 41 related
Schedule J breakdown matched by us
- Base
- $0 + $174,155 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $20,966 related
- Filer's total
- $0 + $195,121 related
-
Steven KaczynskiSTEVEN KACZYNSKI
CONTROLLER
- Total calculated
- $178,197
- From this org
- $0
- From related orgs
- $136,989
- Other
- $41,208
- Hours/week
- 9 + 41 related
Schedule J breakdown matched by us
- Base
- $0 + $136,989 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $4,335 related
- Nontaxable benefits
- $0 + $36,873 related
- Filer's total
- $0 + $178,197 related
-
Ryan JohnsonRYAN JOHNSON
MANAGING DIRECTOR, REAL ESTATE
- Total calculated
- $226,651
- From this org
- $0
- From related orgs
- $189,590
- Other
- $37,061
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $189,590 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $5,775 related
- Nontaxable benefits
- $0 + $31,286 related
- Filer's total
- $0 + $226,651 related
-
Christopher GiamettaCHRISTOPHER GIAMETTA
DIRECTOR OF CONSTRUCTION SERVICES
- Total calculated
- $144,817
- From this org
- $0
- From related orgs
- $140,265
- Other
- $4,552
- Hours/week
- 40
-
Danielle RosenDANIELLE ROSEN
DIRECTOR OF OPERATIONS, CAPC
- Total calculated
- $113,580
- From this org
- $0
- From related orgs
- $110,011
- Other
- $3,569
- Hours/week
- 40
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
The filer's explanations (Part III)
- COMPENSATION OF ORGANIZATION'S CEO/EXECUTIVE DIRECTOR
- THE FILING ORGANIZATION DOES NOT HAVE AND/OR COMPENSATION ITS OWN CEO/EXECUTIVE DIRECTOR. INDIVIDUALS LISTED ON PART VII AS OFFICERS OF THE CORPORATION ARE EMPLOYEES OF A RELATED ORGANIZATION AND COMPENSATED THROUGH THE RESPECTIVE RELATED ORGANIZATION. THE METHOD USED BY THE RELATED ORGANIZATION FOR DETERMINING COMPENSATION FOR THESE INDIVIDUALS ARE: - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD - APPROVAL BY THE COMPENSATION COMMITTEE
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
-
ESSEX COMMUNITY LAND TRUST INC
$30,000
SHARED EQUITY INITIATIVE GRANT
-
PARRAMORE ASSET STABILIZATION FUND
$10,000
GENERAL FUND
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.
-
COMMUNITY LOAN FUND OF NEW JERSEY INC
501(C)(3) · LENDING · NJ
-
COMMUNITY LENDING PARTNERS OF NEW JERSEY INC
501(C)(3) · LENDING · NJ · controlled entity
Directly controlled by CLF
-
CAPC SUPPORTIVE NEEDS HOUSING INC
501(C)(3) · REAL ESTATE · NJ · controlled entity
Directly controlled by CAPC
-
MILLS MEMORIAL SOCIAL SERVICES BUILDING INC
501(C)(3) · REAL ESTATE · NJ · controlled entity
Directly controlled by CAPC
-
UWNNJ MONTCLAIR LLC
501(C)(3) · REHABILITATION · NJ · controlled entity
Directly controlled by 60 SOUTH FULLERTON LLC
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.
-
COMMUNITY ASSET PRESERVATION ALLIANCE OF JERSEY CITY #3 LLC
REAL ESTATE · NJ · income -$34,645 · assets $907,150
Directly controlled by CAPC
-
CAPC AFFORDABLE RENTAL FUND LLC
REAL ESTATE · NJ · income $694,549 · assets $2,491,493
Directly controlled by CAPC
-
CAPC PROPERTY MANAGEMENT LLC
REAL ESTATE · NJ · income -$491,396 · assets -$1,331,880
Directly controlled by CAPC
-
CAPC CONSTRUCTION LLC
REAL ESTATE · NJ · income -$650,563 · assets -$1,851,868
Directly controlled by CAPC
-
CAPC BROKERAGE LLC
REAL ESTATE · NJ · income -$539,653 · assets -$1,457,233
Directly controlled by CAPC
-
CAPC 4TH AVE URBAN RENEWAL LLC
REAL ESTATE · NJ · income $15,107 · assets $1,261,373
Directly controlled by CAPC
-
CAPC WASHINGTON STREET URBAN RENEWAL LLC
REAL ESTATE · NJ · income $40,481 · assets $206,940
Directly controlled by CAPC
-
CAPC E-PORT REVITALIZATION 1 LLC
REAL ESTATE · NJ · income -$10,307 · assets $1,118,800
Directly controlled by CAPC
-
CAPC E-PORT REVITALIZATION 2 LLC
REAL ESTATE · NJ · income $2,400
Directly controlled by CAPC
-
NATIONAL COMMUNITY CAPITAL FUND TAMPA #1 LLC
MORTGAGE LOANS · DE · income $4,911 · assets $515,690
Directly controlled by CAPC
-
CAPC AFFORDABLE RENTAL FUND II LLC
REAL ESTATE · NJ · income $186,296 · assets $2,290,248
Directly controlled by CAPC
-
CAPC SOUTH WARD LLC
REAL ESTATE · NJ
Directly controlled by CAPC
-
CAPC AMG LLC
REAL ESTATE · DE · income $299,695 · assets $519,925
Directly controlled by CAPC
-
CAPC USA FUND 2 LLC
REAL ESTATE · DE · income -$45,587 · assets $57,283
Directly controlled by CAPC
-
60 SOUTH FULLERTON LLC
REAL ESTATE · DE · income -$101 · assets -$176
Directly controlled by CAPC
-
CAPC AFFORDABLE RENTAL FUND III LLC
REAL ESTATE · NJ · income -$137,518 · assets $4,282,352
Directly controlled by CAPC
-
REMSEN AVENUE DEVELOPMENT LLC
REAL ESTATE · NJ
Directly controlled by CAPC
-
NEW JERSEY COMMUNITY CAPITAL FUND 1 LLC
MORTGAGE LOANS · NJ · income -$4,126 · assets -$707,401
Directly controlled by CAPC
-
CAPC USA PLEDGOR II LLC
INVESTMENT · NJ
Directly controlled by CAPC USA FUND II INVEST LLC
-
CAPC USA FUND II INVEST LLC
INVESTMENT · NJ
Directly controlled by CAPC
-
CAPC USA PLEDGOR
INVESTMENT · NJ
Directly controlled by CAPC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
NJCC CDE CAMDEN LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE MIDDLESEX LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE OCEAN LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE CUMBERLAND LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE MONMOUTH LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE PASSAIC LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE BARTON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE EDISON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE HAMILTON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE STOCKTON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE WHITMAN LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE WILSON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE KILMER LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE LIVINGSTON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE MORRIS LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE CAMPBELL LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE EAGLETON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE PARKER LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE ROBESON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE SALEM LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE AMOS LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE FIELD LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE HOUSTON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE PETERSON LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE GRIMESFARM LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE 42 LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE 43 LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE 44 LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE 45 LLC
RELATED · INVESTMENT · NJ
-
NJCC CDE 46 LLC
RELATED · INVESTMENT · NJ
-
306 MLK BLVD URBAN RENEWAL COMPANY LLC
RELATED · REAL ESTATE · NJ · 60% owned · share of income -$1,126 · share of assets $2,916,581 · general or managing partner
Directly controlled by CAPC
-
CAPC ASSET STABILIZATION FUND 2 LLC
RELATED · REAL ESTATE · NJ · 52.89% owned · share of income $84,079 · share of assets $5,312,256 · general or managing partner
Directly controlled by CAPC
-
PARRAMORE ASSET STABILIZATION FUND LLC
RELATED · REAL ESTATE · NJ
-
WPB ARTS HOUSING LLC
RELATED · REAL ESTATE · FL · 80% owned · general or managing partner
Directly controlled by CAPC
-
CAPC SFR HOME IMPACT FUND LLC
RELATED · REAL ESTATE · NJ · 60% owned · share of income -$170,024 · share of assets $604,945 · general or managing partner
Directly controlled by CAPC
-
CAPC USA FUND LLC
RELATED · REAL ESTATE · DE · 45% owned · share of income $190,234 · share of assets $1,575,631 · general or managing partner
Directly controlled by CAPC
-
NJCC NYS COMMUNITY RESTORATION FUND II LLC
RELATED · MORTGAGE LOANS · NJ
-
EQUITABLE SMALL BUSINESS INITIATIVE LLC
RELATED · LENDING · NJ
-
NJCC NJS COMMUNITY RESTORATION FUND II LLC
RELATED · MORTGAGES · NJ
-
CAPC NJ ASSET STABILIZATION FUND #1 LLC
RELATED · REAL ESTATE · NJ · 80.03% owned · share of income -$405,889 · share of assets $15,403,940 · general or managing partner
Directly controlled by CAPC
-
CAG MEMBERS FUND I LLC
RELATED · MORTGAGES · DE
-
NJCC MM INVEST LLC
RELATED · INVESTMENT · DE
-
NJCC FUND 4 LLC
RELATED · MORTGAGE LOANS · NJ
-
NJCC FUND 5 LLC
RELATED · MORTGAGE LOANS · DE
-
VALLEY REVITALIZATION LLC
RELATED · REAL ESTATE · NJ · 50% owned
-
NJCDC-CAPC HOUSING LLC
RELATED · REAL ESTATE · NJ · 50% owned
-
HPN LEVERAGE IV LLC
RELATED · LENDING · LA · 40% owned · share of income $92,221 · share of assets $8,222,118
-
HPN LEVERAGE VIII LLC
RELATED · LENDING · LA · 33.33% owned · share of income $33,110 · share of assets $5,518,400
-
ISLES-CAPC GP LLC
RELATED · REAL ESTATE · NJ · 49% owned
-
ISLES-CAPC HOUSING LLC
RELATED · REAL ESTATE · NJ · 49% owned
-
FAIRVIEW HEIGHTS MM LLC
RELATED · REAL ESTATE · NJ · 50% owned
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
UNIVERSITY VENTURES INC
C · INVESTMENT · NJ
Directly controlled by CLFNJ
-
NJCC LMI MORTGAGE PLATFORM LLC
C · MORTGAGE LOAN · NJ
Directly controlled by CLFNJ
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 August 2024
- IRS schema version
- 2022v5.0
- Source object
- 202412289349302101
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