Pineridge Brook Corp
- Assets
- $4.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Neptune, NJ
- Founding
- 03/2000
- Data as of
- 06/2023
- EIN
- 22-3704370
Organization Overview
Pineridge Brook Corp is located in Neptune, NJ. The organization was established in 2000. 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. As of 06/2023, Pineridge Brook Corp employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pineridge Brook Corp 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 06/2023, Pineridge Brook Corp generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 1.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COMPASSIONATELY SERVING IN COMMUNITY SO THAT ALL ARE FREE TO CHOOSE ABUNDANT LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION CONSISTS OF 47 APARTMENTS FOR SENIOR AND HANDICAPPED INDIVIDUALS FINANCED THROUGH HUD. OCCUPANCY AVERAGED 99%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Carlson Ceo/secretary | 0.5 | $0 | |
Mark Lenhard Ceo/secretary | Trustee | 0.5 | $0 |
Jana Purkis-Brash Trustee | Trustee | 0.5 | $0 |
Rev Edward Carll Chairman | Trustee | 0.5 | $0 |
Gavin Stobie Trustee | Trustee | 0.5 | $0 |
Lawrence E Johnson III Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,250 |
| Government grants | $24,627 |
| 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 | $25,877 |
| Total Program Service Revenue | $973,255 |
| Investment income | $5,497 |
| 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 | $1,004,629 |
| 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 | $257,067 |
| Pension plan accruals and contributions | $4,648 |
| Other employee benefits | $40,713 |
| Payroll taxes | $21,562 |
| Fees for services: Management | $27,072 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $122 |
| Office expenses | $30,003 |
| Information technology | $14,586 |
| Royalties | $0 |
| Occupancy | $81,301 |
| Travel | $2,190 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,243 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $193,593 |
| Insurance | $50,710 |
| All other expenses | $53,638 |
| Total functional expenses | $1,137,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,151 |
| Savings and temporary cash investments | $195,961 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,011 |
| 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 | $19,000 |
| Net Land, buildings, and equipment | $3,848,529 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,276 |
| Total assets | $4,103,928 |
| Accounts payable and accrued expenses | $146,677 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $18,276 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,802,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,349 |
| Total liabilities | $6,020,302 |
| Net assets without donor restrictions | -$1,916,374 |
| 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 | $4,103,928 |