323 Sbs Fund Inc

Organization Overview

323 Sbs Fund Inc is located in Trenton, NJ. The organization was established in 2015. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, 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. 323 Sbs Fund 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, 323 Sbs Fund Inc generated $20.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.3% each year .

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE 323 SBS FUND IS A CHARITABLE FUND SUPPORTING THE GENERAL MISSION OF LUTHER ARMS,INC -A LUTHERAN CHURCH RELATED HUD HOUSING FACILITY IN TRENTON,NJ

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE 323 SBS,INC FUND IS A 501C-3 ORGANIZATION WHICH EXISTS TO SUPPLEMENT AND ENHANCE THE GENERAL LIVES OF THE LUTHER ARMS,INC HOUSING COMMUNITY,A SECT 8/202 HUD SPONSORED HOUSING FACILITY IN TRENTON,NJ. THE FUND CONDUCTS AN ANNUAL ROUND OF COMMUNITY SUPPORT THROUGH THE DISTRIBUTIION OF SOME PERCENTAGE OF IT'S ASSETS AND INCOME TO CHURCH RELATED AND NOT FOR PROFIT COMMUNITY ORGANIZATIONS IN THE LOCAL MERCER COUNTY,NJ AREA. THE LUTHER ARMS BUILDING HAS 150 APARTMENTS AVAILABLE FOR RENT.


ADDITIONAL GIFTS..


THE 323 SBS FUND BEGAN IT'S CHARITABLE ACTIVITY IN 2019.THE FUND MANAGEMENT IS FURTHER EXPLORING THE APPROPRIATE TIME FRAME FOR CHARITABLE ACTIVITY BUT IT IS EXPECTED TO GENERATE ONE ROUND OF GIVING PER YEAR-THE TARGET IS FOUR/ FIVE CHARITABLE GIFTS PER YEAR.


THE 323 SBS FUND IS A CHARITABLE ORGANIZATION ORGANIZED TO GENERALLY SUPPORT THE WORK OF THE LUTHER ARMS APARTMENT BUILDING --A LUTHERAN CHURCH AFFILIATED 501[C]3 LOCATED IN TRENTON,NJ.


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Board, Officers & Key Employees

Name (title)Compensation
Albert Cowell
Trustee
$0
Rosie Jackson
Trustee
$0
David Smith
Trustee
$0
Richard Sword
Trustee
$0
Raymond Kolison
Trustee
$0
Debra Burd
Trustee
$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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $20,011
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 $20,011

Grants Awarded

Over the last fiscal year, 323 Sbs Fund Inc has awarded $28,000 in support to 4 organizations.

Grant RecipientAmount

TRENTON TRACK CLUB

PURPOSE: gift in general support of the Community Work of the Trenton Track Club.

$6,000

ST BARTHOLOMEWS LUTHERAN CHURCH

PURPOSE: a gift in general support of the Community work of our neighbor,St Bartholomews Church in Trenton.

$6,000

LIBERIAN MISSION OF USA

PURPOSE: gift in support of Rev Francis Keelakii and his educational and mission work in Liberia

$10,000

ISLES INC

PURPOSE: gift in support of Community Activities of Isles-particularly in the area of replanting urban spaces with hardwood trees/ reforestation.

$6,000
View Grant Profile

Peer Organizations

Organization NameAssets
Charles T Sitrin Network Of Homes & Services Inc
New Hartford, NY
$2,636,304
Community Lenders Community Development Corporation
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$2,531,165
St Andrews Housing Dev Fund Co
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$1,652,075
Brethren Home Foundation
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$4,411,506
Concorse Gardens Housing Development Fund Company Inc
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$1,528,911
Our Lady Of Fatima Apartments Housing Dev Fund Company Inc
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$1,035,179
American Friends Of Belz Inc
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$825,824
Community Lending Partners Of New Jersey Inc
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$1,103,829
384 Grand Street Housing Development Fund Company Inc
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$987,226
Cucs Initiatives Inc
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$803,283
Smokey Hollow Housing Development Fund Company Inc
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$387,999
Habitat For Humanity Nyc Fund Inc
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$613,393
St Paul Housing Development Fund Inc
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$333,459
Caritas Housing Corporation
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$498,994
From The Heart Fund
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$220,139
American Russian Children Home Foundation Inc
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$136,253
Lillian M & Frank M Taylor Charitable Tr
Pennington, NJ
$265,298
532 East Sixth Street Housing Development Fund Corporation
New York, NY
$116,110
Luther Foundation Of Southern Chester County Inc
West Grove, PA
$227,128
Vincent Depaul Foundation Inc
Rochester, NY
$478,749
Heart Of American Homes Foundation Inc
East Meadow, NY
$0
Liggett Boulvard Inc
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$0
Nysar Housing Opportunities Foundation Inc
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$0
Arkadia Triangle Fund
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$47,627

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