Housing Initiatives Of Princeton Charitable Tr
- Assets
- $740.5k
- Revenue
- $518.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Princeton, NJ
- Founding
- 02/2012
- Data as of
- 06/2022
- EIN
- 27-6983137
Organization Overview
Housing Initiatives Of Princeton Charitable Tr is located in Princeton, NJ. The organization was established in 2012. According to its NTEE Classification (L40) the organization is classified as: Temporary 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. Housing Initiatives Of Princeton Charitable Tr 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, Housing Initiatives Of Princeton Charitable Tr generated $518.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $264.3k during the year ending 06/2022. While expenses have increased by 19.9% per year over the past 6 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
HOUSING INITIATIVES OF PRINCETON PROVIDES AFFORDABLE HOUSING OPTIONS TO TRANSITION INTO PERMANENT HOUSING AND SUSTAINED SELF-SUFFICIENCY TO LOW INCOME WORKING FAMILIES AND INDIVIDUALS WHO ARE HOMELESS OR FACING IMMINENT HOMELESSNESS IN AND AROUND PRINCETON, NEW JERSEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING INITIATIVES OF PRINCETON (HIP) STRIVES TO PREVENT HOMELESSNESS FOR QUALIFYING LOW-INCOME WORKING FAMILIES AND INDIVIDUALS IN AND AROUND PRINCETON, NJ. DURING THE JULY 2021 THROUGH JUNE 2022 FISCAL YEAR, HOUSING INITIATIVES OF PRINCETON PROVIDED TRANSITIONAL HOUSING FOR SEVEN FAMILIES INCLUDING 8 CHILDREN AND 9 ADULTS AND RENTAL ASSISTANCE (BACK RENT AND SECURITY DEPOSIT) TO 110 ADULTS AND 59 CHILDREN, ENABLING THEM TO AVOID HOMELESSNESS AND ADDED DISRUPTION IN THEIR LIVES. HIP ALSO CONTINUES TO COLLABORATE WITH OTHER HELPING AGENCIES IN THE AREA TO MAKE THIS RENTAL ASSISTANCE PROVISION A MORE COORDINATED EFFORT. THROUGH TWO PROFESSIONAL CASE MANAGERS THAT HIP CONTRACTS, AND IN COORDINATION WITH BOARD LIAISONS, OVER 150 HOURS OF INDIVIDUALIZED SUPPORTIVE SERVICES WERE PROVIDED TO CONNECT FAMILIES AND CHILDREN TO BENEFICIAL RESOURCES, INCLUDING EMPLOYMENT ADVICE, FINANCIAL LITERACY, PARENTING WORKSHOPS, AND ENRICHMENT OPPORTUNITIES FOR THE GROWTH AND EDUCATION OF PARENTS AND CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Liz Lempert Interim Board Chair | OfficerTrustee | 30 | $0 |
Ann Zultner Treasurer | OfficerTrustee | 10 | $0 |
Dana Molina Secretary | OfficerTrustee | 5 | $0 |
Sarah Torian Vice Chair | OfficerTrustee | 5 | $0 |
Valerie Giguere Trustee | Trustee | 5 | $0 |
Ira Lackey Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $109,180 |
| Related organizations | $0 |
| Government grants | $128,278 |
| All other contributions, gifts, grants, and similar amounts not included above | $237,407 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $474,865 |
| Total Program Service Revenue | $43,202 |
| Investment income | $877 |
| 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 | $518,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,027 |
| Grants and other assistance to domestic individuals. | $54,914 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,167 |
| Compensation of current officers, directors, key employees. | $4,417 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,448 |
| Advertising and promotion | $0 |
| Office expenses | $1,305 |
| Information technology | $1,318 |
| Royalties | $0 |
| Occupancy | $36,452 |
| 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 | $5,833 |
| Insurance | $7,232 |
| All other expenses | $0 |
| Total functional expenses | $264,333 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $301,995 |
| Savings and temporary cash investments | $185,365 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $253,147 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $740,507 |
| Accounts payable and accrued expenses | $803 |
| 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 | $148,582 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $149,385 |
| Net assets without donor restrictions | $591,122 |
| 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 | $740,507 |