Parsippany Troy Hills Senior Citizens Housing Corporation
- Assets
- $21.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Parsippany, NJ
- Founding
- 05/1980
- Data as of
- 12/2021
- EIN
- 22-2295830
Organization Overview
Parsippany Troy Hills Senior Citizens Housing Corporation is located in Parsippany, NJ. The organization was established in 1980. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Parsippany Troy Hills Senior Citizens Housing Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parsippany Troy Hills Senior Citizens Housing Corporation 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, Parsippany Troy Hills Senior Citizens Housing Corporation generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 3.5% 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
THE ORGANIZATION'S PRIMARY PUPROSE IS TO ASSIST LOW AND MODERATE INCOME ELDERLY AND DISABLED INDIVIDUALS WITH THEIR HOUSING NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE AND MAINTAIN AN AFFORDABLE HOUSING COMMUNITY CONSISTING OF 191 UNITS FOR ELDERLY AND HANDICAPPED INDIVIDUALS PURSUANT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937 AS AMENDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce T Benson President | OfficerTrustee | 0.76 | $0 |
Stephen J Merola Secretary | OfficerTrustee | 0.76 | $0 |
Satya Konkesa Treasurer | OfficerTrustee | 0.76 | $0 |
Howard Letts Treasurer | OfficerTrustee | 0.76 | $0 |
John H Schlitt Vice President | OfficerTrustee | 0.76 | $0 |
Robert DE Guarde Member | Trustee | 0.76 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prd Management Inc Management Agent | 12/30/21 | $173,880 |
Alan J Rich Esq Legal Services | 12/30/21 | $130,643 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,552,211 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,552,211 |
| Total Program Service Revenue | $597,338 |
| Investment income | $188,017 |
| 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 | $3,337,566 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,000 |
| 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 | $376,943 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $78,334 |
| Payroll taxes | $33,826 |
| Fees for services: Management | $173,880 |
| Fees for services: Legal | $130,643 |
| Fees for services: Accounting | $36,851 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $96,843 |
| Fees for services: Other | $82,991 |
| Advertising and promotion | $4,355 |
| Office expenses | $8,970 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $293,519 |
| Insurance | $102,070 |
| All other expenses | $52,769 |
| Total functional expenses | $2,511,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $393,193 |
| Savings and temporary cash investments | $313,590 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,622 |
| 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 | $60,743 |
| Net Land, buildings, and equipment | $3,237,242 |
| Investments—publicly traded securities | $10,070,732 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,685,943 |
| Total assets | $21,766,065 |
| Accounts payable and accrued expenses | $142,222 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $54,137 |
| Total liabilities | $196,359 |
| Net assets without donor restrictions | $21,569,706 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $21,766,065 |
Grants Awarded
Over the last fiscal year, Parsippany Troy Hills Senior Citizens Housing Corporation has awarded $16,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Morris Plains, NJ | | $8,000 |
PARSIPPANY EMERGENCY FOOD PAN | | | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Moravian Village Of Bethlehem Bethlehem, PA | $74,343,954 | $19,911,429 |
Community Healthcare Realty Inc Toms River, NJ | $8,596,047 | $19,288,515 |
Sarah A Reed Home Erie, PA | $16,706,184 | $19,190,049 |
Colgate Palmolive Post Retirement Veba Tr New York, NY | $1,964,886 | $6,599,849 |
Williamsport Home Williamsport, PA | $21,816,206 | $17,908,824 |
Orchard Park Ccrc Inc Orchard Park, NY | $79,217,375 | $18,334,727 |
Seniorcare Montchanin Inc Hamilton, NJ | $10,084,234 | $15,044,151 |
Firemens Association Of The State Of New York Albany, NY | $46,544,668 | $18,019,275 |
Holy Family Senior Living Bethlehem, PA | $8,945,725 | $16,667,938 |
Pitman Manor Inc Neptune, NJ | $6,381,281 | $14,956,021 |
Good Shepherd Village At Endwellinc Endwell, NY | $76,298,914 | $15,180,205 |
Gurwin Jewish-Fay J Lindner Residences Inc Commack, NY | $18,352,784 | $14,495,214 |