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Nonprofiteer
← BLOOMFIELD SENIOR CITIZENS HOUSING CORP FELICITY TOWERS

Form 990 for tax year 2023

Filed by BLOOMFIELD SENIOR CITIZENS HOUSING CORP FELICITY TOWERS.

Totals

Total revenue
$2,439,755
Total expenses
$1,887,550
Contributions and grants received
$742,744
Grants paid
$575,000
Program service revenue
$654,272
Investment income
$1,028,740
Other revenue
$13,999
Total assets, end of year
$2,095,227
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,095,227
Program services expenses (Part IX)
$1,806,266
Management and general expenses
$81,284
Fundraising expenses
$0
Program service expenses (Part III)
$1,806,266

Program services were 95.7% 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)

    $742,744

  • 1g · Noncash contributions included above

    $35,215

  • 2a · Program service revenue: APARTMENT RENT

    total $594,564 · related or exempt $594,564

  • 2b · Program service revenue: COMMERCIAL RENTS

    total $41,916 · related or exempt $41,916

  • 2c · Program service revenue: GARAGE & PARKING RENT

    total $8,955 · related or exempt $8,955

  • 2d · Program service revenue: LAUNDRY

    total $8,134 · related or exempt $8,134

  • 2e · Program service revenue: TENANT CHARGES

    total $703 · related or exempt $703

  • 3 · Investment income

    total $39,070 · excluded $39,070

  • 7a · Gross sales of assets other than inventory

    other assets $6,461,449

  • 7b · Less cost or other basis and sales expenses

    other assets $5,471,779

  • 7c · Gain or loss

    other assets $989,670

  • 7d · Net gain or loss

    total $989,670 · excluded $989,670

  • 11a · Other revenue: MISCELLANEOUS

    total $13,999 · related or exempt $13,999

  • 11e · Other revenue, total

    $13,999

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $575,000 · program services $575,000

  • 5 · Compensation of officers, directors and key employees

    total $50,344 · management and general $50,344

  • 7 · Other salaries and wages

    total $146,372 · program services $146,372

  • 9 · Other employee benefits

    total $28,198 · program services $28,198

  • 10 · Payroll taxes

    total $12,502 · program services $12,502

  • 11b · Fees: legal

    total $2,010 · program services $2,010

  • 11c · Fees: accounting

    total $30,940 · management and general $30,940

  • 13 · Office expenses

    total $5,787 · program services $5,787

  • 20 · Interest

    total $83,441 · program services $83,441

  • 22 · Depreciation, depletion and amortization

    total $167,505 · program services $167,505

  • 23 · Insurance

    total $120,900 · program services $120,900

  • 24a · Other expenses: UTILITIES

    total $181,803 · program services $181,803

  • 24b · Other expenses: REAL ESTATE TAXES

    total $173,128 · program services $173,128

  • 24c · Other expenses: MAINTENANCE CONTRACTS

    total $144,094 · program services $144,094

  • 24d · Other expenses: MAINTENANCE AND REPAIRS

    total $109,898 · program services $109,898

  • 24e · All other expenses

    total $55,628 · program services $55,628

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,164,450 · end of year $2,095,227

  • 4 · Accounts receivable

    beginning of year $47,362

  • 9 · Prepaid expenses and deferred charges

    beginning of year $416,370

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,707,606

  • 15 · Other assets

    beginning of year $1,082,978 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $370,760

  • 19 · Deferred revenue

    beginning of year $76,148

  • 23 · Secured mortgages and notes payable

    beginning of year $3,318,747

  • 25 · Other liabilities

    beginning of year $110,089 · end of year $0

  • 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 $1,543,022 · end of year $2,095,227

Mission and programs · 2023

Mission

THE ORGANIZATION OWNS A 148-UNIT APARTMENT BUILDING THAT IS SUBSIDIZED BY THE NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY AND THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT TO PROVIDE ELDERLY INDIVIDUALS WITH LOW AND MODERATE INCOME HOUSING AT AN AFFORDABLE RATE.THE CORPORATION CHARGES THE TENANT RENT AT A RATE NOT TO EXCEED 30% OF THEIR INCOME. THE BALANCE IS SUPPLIED BY THE NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY AND UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

  • TO PROVIDE ELDERLY INDIVIDUALS WITH LOW TO MODERATE INCOME HOUSING AT AN AFFORDABLE RATE SUBSIDIZED BY THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY AND THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

    Expenses $1,806,266 · Grants $575,000 · Revenue $668,271

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gregg Burnett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Alan Laquaglia

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Debbie Agens

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Fred Menzil

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tom Pelaia

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Danny Bitecola

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Celeste Gagliardi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rp Marzulli Co Inc

    MANAGING AGENT

    Total calculated
    $50,344
    From this org
    $50,344
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403199349303030

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.