Habcore Inc
- Assets
- $5.1m
- Revenue
- $4.2m
- Investments
- $29.9k
- Employees
- 36
- Location
- Tinton Falls, NJ
- Founding
- 04/1989
- Data as of
- 12/2021
- EIN
- 52-1596165
Organization Overview
Habcore Inc is located in Tinton Falls, NJ. The organization was established in 1989. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Habcore Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Habcore 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 12/2021, Habcore Inc generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $4.0m during the year ending 12/2021. While expenses have increased by 13.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE PERMANENT HOUSING & SUPPORT FOR LOW-INCOME, HOMELESS INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOMES, SHELTERS, HOMESTEADS AND OTHER FACILITIES FOR HOMELESS PERSONS WITH LOW-INCOME AND/OR PERSONS WHO ARE DISADVANTAGED, DISABLED, UNEMPLOYED OR OTHERWISE UNABLE TO CARE FOR THEMSELVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Heisman Executive Director | Officer | 40 | $143,900 |
Marta Quinn Director Of Fund Dev & Com | Officer | 40 | $90,000 |
Catherine Lord Associate Director | Officer | 40 | $82,154 |
Kathleen Mullarkey President | OfficerTrustee | 5 | $0 |
Gary Dahms Vice President | OfficerTrustee | 2 | $0 |
Darrin DE Seno Treasurer | OfficerTrustee | 2 | $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 | $852,489 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $852,489 |
| Total Program Service Revenue | $3,329,596 |
| Investment income | $6,813 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $29,217 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,223,879 |
| 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. | $143,900 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $916,673 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $78,601 |
| Payroll taxes | $93,420 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,461 |
| Fees for services: Accounting | $48,943 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,275 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,965,730 |
| Travel | $12,102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,872 |
| Interest | $9,861 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $160,919 |
| Insurance | $103,028 |
| All other expenses | $132,691 |
| Total functional expenses | $4,047,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $973,775 |
| Savings and temporary cash investments | $53,316 |
| 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 | $40,936 |
| Net Land, buildings, and equipment | $3,533,175 |
| Investments—publicly traded securities | $409,310 |
| Investments—other securities | $29,947 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,711 |
| Total assets | $5,091,170 |
| Accounts payable and accrued expenses | $70,829 |
| Grants payable | $0 |
| Deferred revenue | $201,639 |
| 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 | $2,122,003 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $100 |
| Total liabilities | $2,394,571 |
| Net assets without donor restrictions | $2,228,320 |
| Net assets with donor restrictions | $468,279 |
| 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 | $5,091,170 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Habcore Inc has recieved totaling $42,000.
| Awarding Organization | Amount |
|---|---|
Stone Foundation Of New Jersey Leonardo, NJ PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
Provident Bank Foundation Inc Iselin, NJ PURPOSE: INDEPENDENCE PATHWAYS PROGRAM | $15,000 |
Manasquan Bank Charitable Foundation Inc Wall Township, NJ PURPOSE: COVID RELIEF | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
The Arc Morris County Chapter Nj Inc Morris Plains, NJ | $23,360,035 | $22,219,596 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Reach Riverside Development Corporation Wilmington, DE | $31,775,413 | $42,220,664 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
Alfa Development Inc Newfoundland, NJ | $12,469,438 | $16,200,874 |
Grand Central District Management Association Inc New York, NY | $3,484,616 | $12,729,561 |
Westbeth Corp Housing Development Fund Company Inc New York, NY | $62,389,155 | $10,191,211 |
Community Action Agency Of Delaware County Inc Boothwyn, PA | $15,976,339 | $8,682,122 |
Brighton Beach Housing Development Fund Company Inc New York, NY | $22,060,771 | $3,270,016 |