Cranbury Housing Associates
- Assets
- $8.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Cranbury, NJ
- Founding
- 03/1968
- Data as of
- 12/2021
- EIN
- 22-1735465
Organization Overview
Cranbury Housing Associates is located in Cranbury, NJ. The organization was established in 1968. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cranbury Housing Associates is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Cranbury Housing Associates generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 8.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING LOW-COST HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES AN AFFORDABLE HOUSING APARTMENT COMPLEX WITH SUBSIDIZED RENTS FOR LOWER INCOME INDIVIDUALS.
THE ORGANIZATION MANAGES A 20 UNIT SENIOR HOUSING FACILITY. RENT IS LIMITED TO 30% OF THE INDIVIDUAL'S ANNUAL INCOME AND IS SUBSIDIZED BY FARMERS HOME RURAL DEVELOPMENT AGENCY.
THE ORGANIZATION MANAGES A LOW-INCOME HOUSING DEVELOPMENT. THE HOUSING CONSISTS OF RENTED AND PURCHASED HOMES. RENTERS AND PURCHASERS MUST MEET INCOME REQUIREMENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Silverman Vice President | Officer | 10 | $0 |
Mark Berkowsky President | Officer | 10 | $0 |
Helene Hughes Secretary | Officer | 10 | $0 |
Michael Kaiser Treasurer | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,040 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $180,111 |
| All other contributions, gifts, grants, and similar amounts not included above | $875 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $182,026 |
| Total Program Service Revenue | $1,030,786 |
| Investment income | $1,388 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,217,522 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $113,351 |
| Fees for services: Legal | $725 |
| Fees for services: Accounting | $7,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $245,315 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $343,434 |
| Insurance | $68,849 |
| All other expenses | $41,132 |
| Total functional expenses | $1,267,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $698,121 |
| Savings and temporary cash investments | $157,020 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,105 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,588,884 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,218 |
| Total assets | $8,549,348 |
| Accounts payable and accrued expenses | $99,401 |
| Grants payable | $0 |
| Deferred revenue | $32,595 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,060,975 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $101,595 |
| Total liabilities | $4,294,566 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,254,782 |
| Total liabilities and net assets/fund balances | $8,549,348 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cranbury Housing Associates has recieved totaling $40.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: PROGRAM/OPERATING SUPPORT | $40 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Affordable Housing Alliance Inc Neptune, NJ | $23,008,220 | $15,041,931 |
New Community Corporation Newark, NJ | $92,222,632 | $16,838,314 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |
Milford Housing Development Corperation Milford, DE | $34,677,401 | $10,337,525 |