Holy Rosary Senior Residence Inc
- Assets
- $3.5m
- Revenue
- $658.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Newark, NJ
- Founding
- 06/1999
- Data as of
- 06/2022
- EIN
- 22-3653757
Organization Overview
Holy Rosary Senior Residence Inc is located in Newark, NJ. The organization was established in 1999. 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 06/2022, Holy Rosary Senior Residence Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Holy Rosary Senior Residence Inc 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 06/2022, Holy Rosary Senior Residence Inc generated $658.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $930.6k during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FOR LOW-INCOME SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MAINTAINS A 60 UNIT HUD HOUSING PROJECT THAT PROVIDES HOUSING FOR ELDERLY TENANTS WITH LOW INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Amoroso Vice Chairperson | OfficerTrustee | 1 | $0 |
John Westervelt Trustee | Trustee | 1 | $0 |
J Kenneth Pagano Trustee | Trustee | 1 | $0 |
Richard Malagiere Trustee | Trustee | 1 | $0 |
Reverend Monsignor Ronald Rosina Chairperson | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $184 |
| 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 | $658,082 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $113,212 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,699 |
| Payroll taxes | $9,267 |
| Fees for services: Management | $43,200 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,600 |
| 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 | $29,070 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $130,132 |
| 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 | $262,997 |
| Insurance | $47,231 |
| All other expenses | $0 |
| Total functional expenses | $930,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $41,180 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,339 |
| 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 | $1,164 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $195,448 |
| Total assets | $3,522,389 |
| Accounts payable and accrued expenses | $162,935 |
| Grants payable | $0 |
| Deferred revenue | $431 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,676 |
| 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 | $63 |
| Total liabilities | $181,105 |
| Net assets without donor restrictions | $3,341,284 |
| 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 |
| Total liabilities and net assets/fund balances | $3,341,284 |