Plainsboro Non Profit Housing Corporation
- Assets
- $7.5m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Princeton, NJ
- Founding
- 10/1989
- Data as of
- 12/2022
- EIN
- 22-2933525
Organization Overview
Plainsboro Non Profit Housing Corporation is located in Princeton, NJ. The organization was established in 1989. 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. Plainsboro Non Profit 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 12/2022, Plainsboro Non Profit Housing Corporation generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO PROVIDE LOW AND MODERATE INCOME HOUSING IN PLAINSBORO TOWNSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE PLAINSBORO NON-PROFIT HOUSING CORPORATION BUILT A 126 UNITRENTAL COMPLEX WHICH 100% OF THE COMPLEX IS PROVIDED FOR LOW ANDMODERATE INCOME RESIDENTS IN PLAINSBORO TOWNSHIP. IN ADDITION,THE CORPORATION MONITORS AFFORDABLE HOUSING AND CONSULTS FOR THETOWNSHIP OF PLAINSBORO ON ISSUES RELATED TO AFFORDABLE HOUSING INPLAINSBORO, NJ. IN 2012 THE TOWNSHIP OF PLAINSBORO TRANSFERREDFUNDS TO PLAINSBORO NONPROFIT HOUSING CORPORATION FOR THEADMINISTRATION OF GRANTS. THESE GRANTS ARE FOR THE INSTALLATION OFHIGH ENERGY EFFICIENT HVAC SYSTEMS AND HOT WATER TANKS INAFFORDABLE HOMES; DOWN PAYMENT ASSISTANCE GRANTS TO PURCHASEAFFORDABLE HOMES; THE USE OF FUNDS TO MAINTAIN AFFORDABILITYRESTRICTIONS IF AN AFFORDABLE HOME IS BEING FORECLOSED UPON; ANDFUNDING TO PURCHASE MARKET HOMES, REFURBISH AND RESELL THEM ASAFFORDABLE HOMES WITH RESTRICTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bobbie Schott Vice Chair | OfficerTrustee | 1 | $0 |
Kathy Vignapiano Member At Large | Trustee | 1 | $0 |
John Pidgeon Secretary | OfficerTrustee | 1 | $0 |
Robert Rusciano Chair | OfficerTrustee | 1 | $0 |
Thomas Colitsas Treasurer | OfficerTrustee | 1 | $0 |
Frank Piazza Executive Director | Officer | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,678,364 |
| Investment income | $1,590 |
| 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 | $1,679,954 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,000 |
| 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 | $226,956 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $327 |
| Payroll taxes | $51,289 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,767 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $867 |
| Office expenses | $40,863 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,072 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $286,192 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $243,573 |
| Insurance | $98,296 |
| All other expenses | $30,000 |
| Total functional expenses | $1,664,377 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,614,493 |
| Savings and temporary cash investments | $1,138,975 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,681 |
| 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 | $39,908 |
| Net Land, buildings, and equipment | $3,644,609 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,495 |
| Other assets | $1,025,513 |
| Total assets | $7,522,674 |
| Accounts payable and accrued expenses | $72,728 |
| Grants payable | $1,530,629 |
| 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 | $4,398,805 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,119,313 |
| Total liabilities | $7,121,475 |
| Net assets without donor restrictions | $401,199 |
| 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 | $7,522,674 |