Valentine Foundation Inc
- Assets
- $110.9k
- Revenue
- $118.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Bloomfield, NJ
- Founding
- 08/2011
- Data as of
- 12/2022
- EIN
- 27-1726785
Organization Overview
Valentine Foundation Inc is located in Bloomfield, NJ. The organization was established in 2011. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Valentine Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valentine Foundation 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 12/2022, Valentine Foundation Inc generated $118.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.1%) each year. All expenses for the organization totaled $93.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.3%) per year over the past 7 years. 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 PROVIDES TRANSITIONAL HOUSING AT A COST BELOW FMV FOR RECOVERING ADDICTS AND ALCOHOLICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VALENTINE FOUNDATION, INC. PROVIDES TRANSITIONAL HOUSING AT A COST BELOW FAIR MARKET VALUE FOR RECOVERING ADDICTS AND ALCOHOLICS. $263,599 OF RENTAL INCOME WAS RECEIVED FROM FIVE HOSUES THROUGHOUT THE YEAR. THE RUNNING COST OF THE HOUSING WAS $199,598
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Valentine Director | Trustee | 30 | $44,980 |
Robert Kirby Trustee | Trustee | 1 | $0 |
Charles Chase Trustee | Trustee | 1 | $0 |
Doreen Gagnon Trustee | Trustee | 1 | $0 |
Lisa Valentine President | Officer | 1 | $0 |
Maria Fonseca Secretary | Officer | 1 | $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 | $54,758 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,758 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $64,001 |
| 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 | $118,759 |
| 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. | $44,980 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,250 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,862 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,711 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $205 |
| Office expenses | $1,226 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $351 |
| 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 | $0 |
| Insurance | $5,483 |
| All other expenses | $403 |
| Total functional expenses | $93,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,283 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,214 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,665 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,741 |
| Total assets | $110,903 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $110,903 |
| Total liabilities and net assets/fund balances | $110,903 |