Foresight Affordable Housing Inc

Organization Overview

Foresight Affordable Housing Inc is located in Ventnor, NJ. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2021, Foresight Affordable Housing Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foresight Affordable Housing 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, Foresight Affordable Housing Inc generated $10.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $6.1m during the year ending 12/2021. While expenses have increased by 6.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

AFFORDABLE HOUSING PROVIDER THAT PROVIDES MANAGEMENT SERVICES AND PROJECT OVERSIGHT IN AN EFFORT TO PROVIDE QUALITY AFFORDABLE HOUSING TO LOWER INCOME INDIVIDUALS AND FAMILIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION IS AN ASSET MANAGER OF MULTI-FAMILY HOUSING PROJECTS WITH HUD INSURED MORTGAGES AND CONSULTS ON NEW DEVELOPMENTS.


OPERATING EXPENSES OF HOUSING PROJECTS.


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Board, Officers & Key Employees

Name (title)Compensation
Nelson Morgan
Vice President
$248,877
Martin Whalen
Vice President Of Development
$147,728
Donald Reape
President
$79,725
Dr Bruce Johnson
VP & Asst. Secretary
$32,419
E James Henderson
Secretary & Treasurer
$17,415
Gerald F Schwam
Trustee
$2,000

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$5,748,941
Government grants $101,967
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$5,850,908
Total Program Service Revenue$3,399,320
Investment income $310,303
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,144,235
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,804,387

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