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Nonprofiteer
← RIESE WEST URBAN RENEWAL CORPORATION

Form 990 for tax year 2022

Filed by RIESE WEST URBAN RENEWAL CORPORATION.

Totals

Total revenue
$415,534
Total expenses
$341,373
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$415,076
Investment income
$13
Other revenue
$445
Total assets, end of year
$20,275,366
Total liabilities, end of year
$20,201,205
Net assets or fund balances, end of year
$74,161
Program services expenses (Part IX)
$320,770
Management and general expenses
$20,603
Fundraising expenses
$0
Program service expenses (Part III)
$320,770

Program services were 94.0% 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: RENTAL INCOME - SENIOR

    total $415,076 · related or exempt $415,076

  • 3 · Investment income

    total $13 · excluded $13

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $228 · related or exempt $228

  • 11b · Other revenue: LAUNDRY INCOME

    total $217 · related or exempt $217

  • 11e · Other revenue, total

    $445

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $33,711 · program services $33,711

  • 9 · Other employee benefits

    total $4,433 · program services $4,433

  • 10 · Payroll taxes

    total $4,523 · program services $4,523

  • 11a · Fees: management

    total $17,172 · management and general $17,172

  • 13 · Office expenses

    total $5,409 · program services $3,778 · management and general $1,631

  • 14 · Information technology

    total $1,800 · management and general $1,800

  • 16 · Occupancy

    total $145,395 · program services $145,395

  • 22 · Depreciation, depletion and amortization

    total $107,877 · program services $107,877

  • 23 · Insurance

    total $21,053 · program services $21,053

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $151,834

  • 2 · Savings and temporary cash investments

    end of year $649,364

  • 4 · Accounts receivable

    end of year $213,440

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $19,368,605

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

    $107,877

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $19,260,728

  • 17 · Accounts payable and accrued expenses

    end of year $83,916

  • 19 · Deferred revenue

    end of year $28,066

  • 23 · Secured mortgages and notes payable

    end of year $20,000,000

  • 25 · Other liabilities

    beginning of year $0 · end of year $89,223

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $74,161

Mission and programs · 2022

Mission

TO PROVIDE LOW-INCOME SENIOR CITIZENS AND HANDICAPPED HOUSING.

Activities or mission (Part I)

THE CORPORATION OWNS AND MANAGES A 159 UNIT APARTMENT PROJECTS FOR THE ELDERLY LOCATED IN PATERSON, NJ. THE PROJECT IS OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND REGULATED BY U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS.

  • TO PROVIDE LOW INCOME SENIOR CITIZEN HOUSING.

    Expenses $320,770 · Revenue $415,521

As filed on the 2022 return.

Listed in Part VII

  • Rev Marc A Mancin

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Rev Msgr Herbert K Tillyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deacon Joseph A Puskas

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Andrew F McBride III Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deacon Peter Cistaro

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Richard Ward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Burns

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dennis P Butler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lynn E Gaffney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Murray

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sr Maureen Shaughnessy Sc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deacon Gregory J Szpunar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph Duffy

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
6 May 2024
IRS schema version
2022v5.0
Source object
202441349349300949

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