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← FORESIGHT AFFORDABLE HOUSING OF PENNSYLVANIA INC

Form 990 for tax year 2024

Filed by FORESIGHT AFFORDABLE HOUSING OF PENNSYLVANIA INC.

Totals

Total revenue
$2,045,691
Total expenses
$1,849,234
Contributions and grants received
$540,252
Grants paid
$278,346
Program service revenue
$1,464,750
Investment income
$17,570
Other revenue
$23,119
Total assets, end of year
$3,025,027
Total liabilities, end of year
$2,522,833
Net assets or fund balances, end of year
$502,194
Program services expenses (Part IX)
$1,565,679
Management and general expenses
$283,555
Fundraising expenses
$0
Program service expenses (Part III)
$1,565,679

Program services were 84.7% 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.

  • 1d · Related organizations

    $540,252

  • 2a · Program service revenue: RENTAL INCOME - HUD SECTION 8

    total $741,765 · related or exempt $741,765

  • 2b · Program service revenue: RENTAL INCOME - TENANTS PAYMENTS

    total $722,985 · related or exempt $722,985

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $17,570 · excluded $17,570

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $23,119 · excluded $23,119

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $23,119

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $278,346 · program services $278,346

  • 11a · Fees: management

    total $92,205 · management and general $92,205

  • 11b · Fees: legal

    total $10,312 · management and general $10,312

  • 11c · Fees: accounting

    total $22,763 · management and general $22,763

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $847 · management and general $847

  • 13 · Office expenses

    total $27,919 · management and general $27,919

  • 14 · Information technology

    total $7,806 · management and general $7,806

  • 16 · Occupancy

    total $757,011 · program services $757,011

  • 17 · Travel

    total $3,021 · management and general $3,021

  • 22 · Depreciation, depletion and amortization

    total $148,399 · program services $148,399

  • 23 · Insurance

    total $135,106 · program services $135,106

  • 24a · Other expenses: ALLOCATED WAGES & FRINGES

    total $347,605 · program services $246,817 · management and general $100,788

  • 24b · Other expenses: MISCELLANEOUS EXPENSES

    total $16,035 · management and general $16,035

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $1,859 · management and general $1,859

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $750 · end of year $750

  • 2 · Savings and temporary cash investments

    beginning of year $296,885 · end of year $131,901

  • 4 · Accounts receivable

    beginning of year $21,565 · end of year $25,157

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $46,892 · end of year $57,263

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

    $5,601,572

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

    $3,484,741

  • 10c · Land, buildings and equipment, net

    beginning of year $1,737,563 · end of year $2,116,831

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $707,785 · end of year $693,125

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,602 · end of year $55,385

  • 19 · Deferred revenue

    beginning of year $20,461 · end of year $24,059

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $2,373,408 · end of year $2,384,491

  • 25 · Other liabilities

    beginning of year $57,232 · end of year $58,898

  • 27 · Net assets without donor restrictions

    beginning of year $305,737 · end of year $502,194

Mission and programs · 2024

Mission

FORESIGHT AFFORDABLE HOUSING OF PENNSYLVANIA, INC. WAS FORMED UNDER THE LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOME OWNERSHIP ACT OF 1990 ("LIHPRHA") TO OPERATE AN APARTMENT COMPLEX OF 111 UNITS LOCATED IN BETHLEHEM, PENNSYLVANIA.

Activities or mission (Part I)

FORESIGHT AFFORDABLE HOUSING OF PA, INC. WAS FORMED TO MAINTAIN AND OPERATE AN AFFORDABLE HOUSING COMMUNITY CONSISTING OF 111 TOTAL HOUSING UNITS.

  • TO MAINTAIN AND OPERATE AN AFFORDABLE HOUSING COMMUNITY CONSISTING OF 111 TOTAL UNITS.

    Expenses $1,565,679 · Grants $278,346 · Revenue $1,464,750

As filed on the 2024 return.

Listed in Part VII

  • Donald Reape

    PRESIDENT (THRU 11/30/24)

    Total calculated
    $116,499
    From this org
    $0
    From related orgs
    $105,126
    Other
    $11,373
    Hours/week
    1 + 20 related

  • Dr Bruce Johnson

    PRESIDENT (EFF. 12/11/24)/ VICE PRESIDENT

    Total calculated
    $52,058
    From this org
    $0
    From related orgs
    $36,291
    Other
    $15,767
    Hours/week
    1 + 20 related

  • E James Henderson

    VICE PRESIDENT (EFF. 12/11/24)/ ASST. SEC

    Total calculated
    $20,460
    From this org
    $0
    From related orgs
    $20,460
    Other
    $0
    Hours/week
    1 + 10 related

  • Michael Byrnes

    SECRETARY/ TREASURER (EFF. 12/11/24)

    Total calculated
    $4,000
    From this org
    $0
    From related orgs
    $4,000
    Other
    $0
    Hours/week
    1 + 5 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

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
2024
Filed
5 August 2025
IRS schema version
2024v5.1
Source object
202542179349302004

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