Bloomfield Senior Citizens Housing Corp Felicity Towers

Organization Overview

Bloomfield Senior Citizens Housing Corp Felicity Towers is located in Bloomfield, NJ. The organization was established in 2004. 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 12/2022, Bloomfield Senior Citizens Housing Corp Felicity Towers employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomfield Senior Citizens Housing Corp Felicity Towers 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, Bloomfield Senior Citizens Housing Corp Felicity Towers generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 1.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION OWNS A 148-UNIT APARTMENT BUILDING THAT IS SUBSIDIZED BY THE NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY AND THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT TO PROVIDE ELDERLY INDIVIDUALS WITH LOW AND MODERATE INCOME HOUSING AT AN AFFORDABLE RATE.THE CORPORATION CHARGES THE TENANT RENT AT A RATE NOT TO EXCEED 30% OF THEIR INCOME. THE BALANCE IS SUPPLIED BY THE NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY AND UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE ELDERLY INDIVIDUALS WITH LOW TO MODERATE INCOME HOUSING AT AN AFFORDABLE RATE SUBSIDIZED BY THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY AND THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.


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Board, Officers & Key Employees

Name (title)Compensation
Gregg Burnett
Trustee
$0
Alan Laquaglia
President
$0
Debbie Agens
Secretary
$0
Fred Menzil
Trustee
$0
Tom Pelaia
Trustee
$0
Danny Bitecola
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,254,926
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $211,291
Total Revenue from Contributions, Gifts, Grants & Similar$1,254,926
Total Program Service Revenue$916,839
Investment income $9,258
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 $2,197,733

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