FORESIGHT AFFORDABLE HOUSING INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- FORESIGHT AFFORDABLE HOUSING INC (EIN 52-1979028)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202433209349323043
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-15T15:52:01-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO USA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 PARK AVENUE 38TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10166 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521979028 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FORESIGHT AFFORDABLE HOUSING INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % NELSON L MORGAN III | InCareOfNm |
| Business Name Control | FORE | BusinessNameControlTxt |
| Phone | 6098232500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6601 Ventnor Avenue Suite 23 | AddressLine1Txt |
| City | Ventnor | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08406 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BRUCE JOHNSON | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 2155641900 | PhoneNum |
| Signature | 2024-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Paul Hammerschmidt | PreparerPersonNm |
| PTIN | P01384178 | PTIN |
| Phone | 2128858000 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | BRUCE JOHNSON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6601 Ventnor Avenue suite 23 | AddressLine1Txt |
| City | Ventnor | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08406 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $24,151,286 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | foresightinc.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1996 | FormationYr |
| Legal Domicile State | NJ | LegalDomicileStateCd |
| Activity Or Mission | AFFORDABLE HOUSING PROVIDER THAT PROVIDES MANAGEMENT SERVICES AND PROJECT OVERSIGHT IN AN EFFORT TO PROVIDE QUALITY AFFORDABLE HOUSING TO LOWER INCOME INDIVIDUALS AND FAMILIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 10 | TotalEmployeeCnt |
| Total Volunteers | 5 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $700,517 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,092,751 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $2,627,192 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $16,419,609 | CYProgramServiceRevenueAmt |
| PY Investment Income | $340,229 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,101,390 | CYInvestmentIncomeAmt |
| PY Other Revenue | $32,628 | PYOtherRevenueAmt |
| CY Other Revenue | $260,579 | CYOtherRevenueAmt |
| PY Total Revenue | $3,700,566 | PYTotalRevenueAmt |
| CY Total Revenue | $19,874,329 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $12,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $12,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,456,113 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,451,320 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,533,416 | PYOtherExpensesAmt |
| CY Other Expenses | $22,593,525 | CYOtherExpensesAmt |
| PY Total Expenses | $4,001,529 | PYTotalExpensesAmt |
| CY Total Expenses | $26,057,345 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$300,963 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$6,183,016 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $39,444,822 | TotalAssetsBOYAmt |
| Total Assets EOY | $249,776,671 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $9,420,680 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $232,658,793 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $30,024,142 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $17,117,878 | NetAssetsOrFundBalancesEOYAmt |
| Mission | FORESIGHT AFFORDABLE HOUSING, INC. WAS CREATED TO PROVIDE QUALITY AFFORDABLE HOUSING TO LOW INCOME INDIVIDUALS AND FAMILIES. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $966,482 | ExpenseAmt |
| Grant | $12,500 | GrantAmt |
| Revenue | $30,000 | RevenueAmt |
| Desc | The organization is a developer, consultant and asset manager of Multi-Family affordable housing communities containing HUD insured or other types of mortgage financing. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $22,091,809 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $16,389,609 | RevenueAmt |
| Desc | operating expenses of housing projects. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $23,058,291 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 16 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 10 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | IL | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NJ | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NELSON L MORGAN III | PersonNm |
| Phone | 6098232500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6601 VENTNOR AVE SUITE 23 | AddressLine1Txt |
| City | VENTNOR | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08406 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Key EmployeeKeyEmployeeInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|---|---|
| NELSON L MORGAN III | |||||||||
| VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $276,359 | $0 | $51,915 | |||
| Martin Whalen | |||||||||
| Vice President of Development | 40.0 | 0.0 | $183,286 | $0 | $43,919 | Yes (X) | |||
| Shonte' Espinal | |||||||||
| VP of Asset Operations | 40.0 | 0.0 | $167,283 | $0 | $30,080 | Yes (X) | |||
| DONALD REAPE | |||||||||
| PRESIDENT | 20.0 | 1.0 | $110,272 | $0 | $8,379 | Yes (X) | Yes (X) | ||
| DR BRUCE JOHNSON | |||||||||
| VP & Asst. SECRETARY | 10.0 | 1.0 | $34,895 | $0 | $14,839 | Yes (X) | Yes (X) | ||
| E James Henderson | |||||||||
| Secretary & Treasurer | 5.0 | 1.0 | $19,812 | $0 | $0 | Yes (X) | Yes (X) | ||
| LYNDA BARNESS | |||||||||
| TRUSTEE | 1.0 | 0.0 | $3,000 | $0 | $0 | Yes (X) | |||
| Michael Byrnes | |||||||||
| TRUSTEE | 1.0 | 0.0 | $3,000 | $0 | $0 | Yes (X) | |||
| NEISA CARABALLO | |||||||||
| TRUSTEE | 1.0 | 0.0 | $3,000 | $0 | $0 | Yes (X) | |||
| Janvier L Osborne | |||||||||
| Trustee | 1.0 | 0.0 | $3,000 | $0 | $0 | Yes (X) | |||
| Gerald F Schwam | |||||||||
| TRUSTEE | 1.0 | 0.0 | $3,000 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $806,907 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $149,132 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $2,092,751 | RelatedOrganizationsAmt |
| Total Contributions | $2,092,751 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| RENT REVENUE | 531110 | $16,389,609 | $16,389,609 |
| OTHER FEE INCOME | 531311 | $25,000 | $25,000 |
| MANAGEMENT FEES | 531311 | $5,000 | $5,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $16,419,609 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $404,619 | TotalRevenueColumnAmt |
| Exclusion | $404,619 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,362,081 | SecuritiesAmt |
| Other | $611,647 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,276,957 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $85,124 | SecuritiesAmt |
| Other | $611,647 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $696,771 | TotalRevenueColumnAmt |
| Exclusion | $696,771 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS REVENUE | Desc |
| Business | 900009 | BusinessCd |
| Total Revenue Column | $260,579 | TotalRevenueColumnAmt |
| Exclusion | $260,579 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $260,579 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $19,874,329 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $16,419,609 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $1,361,969 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,500 | TotalAmt |
| Program Services | $12,500 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $531,471 | TotalAmt |
| Program Services | $531,471 | ProgramServicesAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,339,793 | TotalAmt |
| Program Services | $1,928,058 | ProgramServicesAmt |
| Management And General | $411,735 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,876 | TotalAmt |
| Program Services | $5,986 | ProgramServicesAmt |
| Management And General | $7,890 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $315,628 | TotalAmt |
| Program Services | $267,502 | ProgramServicesAmt |
| Management And General | $48,126 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $250,552 | TotalAmt |
| Program Services | $228,642 | ProgramServicesAmt |
| Management And General | $21,910 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,286,841 | TotalAmt |
| Management And General | $1,286,841 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,471 | TotalAmt |
| Management And General | $114,471 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $195,929 | TotalAmt |
| Management And General | $195,929 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,256 | TotalAmt |
| Program Services | $77,215 | ProgramServicesAmt |
| Management And General | $78,041 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,617 | TotalAmt |
| Management And General | $20,617 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $386,137 | TotalAmt |
| Management And General | $386,137 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,176,409 | TotalAmt |
| Program Services | $14,173,228 | ProgramServicesAmt |
| Management And General | $3,181 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,021 | TotalAmt |
| Program Services | $29,140 | ProgramServicesAmt |
| Management And General | $57,881 | ManagementAndGeneralAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $83,178 | TotalAmt |
| Management And General | $83,178 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,382,762 | TotalAmt |
| Program Services | $4,378,749 | ProgramServicesAmt |
| Management And General | $4,013 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $883,659 | TotalAmt |
| Program Services | $855,522 | ProgramServicesAmt |
| Management And General | $28,137 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| TAXES AND LICENSES | $393,662 | $393,662 | |
| SOFTWARE LICENSE EXPENSE | $71,981 | $71,981 | |
| BAD DEBT EXPENSE | $18,062 | $18,062 | |
| SYNDICATION COSTS | $13,736 | $13,736 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $323,804 | TotalAmt |
| Program Services | $158,554 | ProgramServicesAmt |
| Management And General | $165,250 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,057,345 | TotalAmt |
| Program Services | $23,058,291 | ProgramServicesAmt |
| Management And General | $2,999,054 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,190,896 | BOYAmt |
| EOY | $7,781,788 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,044 | BOYAmt |
| EOY | $797,397 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,549,440 | BOYAmt |
| EOY | $15,879,897 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $121,906 | BOYAmt |
| EOY | $384,733 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $224,048,197 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $9,295,874 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,229,877 | BOYAmt |
| EOY | $214,752,323 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,973,904 | BOYAmt |
| EOY | $5,210,578 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $253 | BOYAmt |
| EOY | $1,836 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,315,502 | BOYAmt |
| EOY | $4,968,119 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,444,822 | BOYAmt |
| EOY | $249,776,671 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $128,613 | BOYAmt |
| EOY | $6,346,076 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,474 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,275,219 | BOYAmt |
| EOY | $223,061,418 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $996,374 | BOYAmt |
| EOY | $3,251,299 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,420,680 | BOYAmt |
| EOY | $232,658,793 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,024,142 | BOYAmt |
| EOY | $17,117,878 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,024,142 | BOYAmt |
| EOY | $17,117,878 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,444,822 | BOYAmt |
| EOY | $249,776,671 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$6,183,016 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $86,034 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | -$578,149 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | -$6,231,133 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supporting Organization509a3 | Yes (X) | SupportingOrganization509a3Ind |
| Supporting Org Type3 Func Int | Yes (X) | SupportingOrgType3FuncIntInd |
| Supported Organizations | 2 | SupportedOrganizationsCnt |
Supported Org Information SupportedOrgInformationGrp (2 entries)
| EINEIN | Organization TypeOrganizationTypeCd | Governing Document ListedGoverningDocumentListedInd | SupportSupportAmt | Other SupportOtherSupportAmt |
|---|---|---|---|---|
| FORESIGHT AFFORDABLE HOUSING OF PENNSYLVANIA INC | ||||
| 521910387 | 10 | Yes (true) | $0 | $0 |
| FORESIGHT AFFORDABLE HOUSING - PENNSVILLE INC | ||||
| 222262967 | 10 | Yes (true) | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Supported Organizations Total | 2 | SupportedOrganizationsTotalCnt |
| Support Sum | $0 | SupportSumAmt |
| Other Support Sum | $0 | OtherSupportSumAmt |
Form990 Sch A Supporting Org Form990SchASupportingOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Listed By Name Governing Doc | false | ListedByNameGoverningDocInd |
| Suprt Org No IRS Determination | false | SuprtOrgNoIRSDeterminationInd |
| Supported Org Section C456 | false | SupportedOrgSectionC456Ind |
| Supported Org Not Organized US | false | SupportedOrgNotOrganizedUSInd |
| Organization Change Suprt Org | Yes (true) | OrganizationChangeSuprtOrgInd |
| Support Non Supported Org | Yes (true) | SupportNonSupportedOrgInd |
| Payment Substantial Contribtr | false | PaymentSubstantialContribtrInd |
| Loan Disqualified Person | false | LoanDisqualifiedPersonInd |
| Controlled Disqualified Prsn | false | ControlledDisqualifiedPrsnInd |
| Disqualified Prsn Controll Int | false | DisqualifiedPrsnControllIntInd |
| Disqualified Prsn Ownr Int | false | DisqualifiedPrsnOwnrIntInd |
| Excess Business Holdings Rules | false | ExcessBusinessHoldingsRulesInd |
| Contribution Controller | false | ContributionControllerInd |
| Contribution Family | false | ContributionFamilyInd |
| Contribution35 Controlled | false | Contribution35ControlledInd |
Form990 Sch A Type3 Sprt Org All Form990SchAType3SprtOrgAllGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timely Provided Documents | Yes (true) | TimelyProvidedDocumentsInd |
| Officers Close Relationship | Yes (true) | OfficersCloseRelationshipInd |
| Supported Org Voice Investment | Yes (true) | SupportedOrgVoiceInvestmentInd |
Form990 Sch A Type3 Func Int Form990SchAType3FuncIntGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Parent Supported Org | Yes (X) | ParentSupportedOrgInd |
| Appoint Elect Majority Officer | Yes (true) | AppointElectMajorityOfficerInd |
| Exercise Direction Policies | Yes (true) | ExerciseDirectionPoliciesInd |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, SECTION A, LINE 1: | THE ORGANIZATION'S SUPPORTED ORGANIZATIONS ARE NOT SPECIFICALLY LISTED BY NAME IN THE SUPPORTING ORGANIZATION'S ARTICLES OF INCORPORATION. HOWEVER, THE ENTITIES HAVE INTERLOCKING BOARDS AND THE SAME PURPOSE: TO PROVIDE AFFORDABLE HOUSING TO LOWER INCOME INDIVIDUALS AND FAMILIES. HISTORICALLY THE ENTITIES HAVE ALWAYS HAD INTERLOCKING BOARDS, AND THE RELATIONSHIP BETWEEN THE SUPPORTING ORGANIZATIONS AND SUPPORTED ORGANIZATION IS PART OF ITS CORE PURPOSE. THE ORGANIZATION HAS THE ABILITY TO APPOINT AND REMOVE OFFICERS. |
| PART IV, SECTION A, LINE 5A: | 5a(i): Name: Foresight Affordable Housing of Maryland, Inc. EIN: 52-1962141 5a(ii): Reason for Action: The property was sold 5a(iii): Authority for the action: Upon dissolution of the corporation, its assets shall be distributed for one or more exempt purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code (i.e. charitable, educational, religious, or scientific, or corresponding section of any future Federal tax code) of shall be distributed to the Federal government, or to a state or local government for a public purpose. 5a(iv): The action was facilitated through state filing of dissolution and Board actions of written consent, plan of action, and Board resolution. |
| PART IV, SECTION A, LINE 6: | During the year the organization made a $12,500 education grant as reported on Schedule I, Part II. The Michaels Organization Educational Foundation that provides scholarships to military and affordable communities, including the supported organizations of Foresight Affordable Housing, Inc., the reporting organization. |
| PART IV, SECTION D, LINE 3: | THE SUPPORTING ORGANIZATION AND SUPPORTED ORGANIZATIONS HAVE INTERLOCKING BOARDS. IN THIS REGARD THE BOARD ACTS IN THE INTEREST OF BOTH THE SUPPORTING AND SUPPORTED ORGANIZATIONS AND AS A RESULT THE SUPPORTED ORGANIZATIONS HAVE A VOICE IN THE DECISIONS OF THE BOARD. |
| PART IV, SECTION E, LINES 3A AND 3B: | FORESIGHT AFFORDABLE HOUSING, INC. HAS BOARD CONTROL AND THE POWER TO APPOINT BOARD MEMBERS TO BOTH FORESIGHT AFFORDABLE HOUSING OF PENNSYLVANIA, INC. AND FORESIGHT AFFORDABLE HOUSING - PENNSVILLE, INC. THROUGH CONTROL OF THE BOARD FORESIGHT AFFORDABLE HOUSING, INC. IS ABLE TO EXERCISE A SUBSTANTIAL DEGREE OF DIRECTION OVER THE SUPPORTED ORGANIZATIONS. |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $43,555,860 | OtherCostOrOtherBasisAmt |
| Book Value | $43,555,860 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $180,368,219 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,289,482 | DepreciationAmt |
| Book Value | $171,078,737 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Leasehold Improvements | LeaseholdImprovementsGrp | |
| Equipment | EquipmentGrp |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $124,118 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,392 | DepreciationAmt |
| Book Value | $117,726 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $214,752,323 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| TENANT SECURITY DEPOSITS | $773,655 |
| CONTRA OPERATING LEASES | $24,000 |
| REFUNDABLE ADVANCES | $1,925,000 |
| DEFERRED CHARGES | $378,408 |
| OTHER LIABILITIES | $150,236 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,251,299 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | As of December 31, 2023, the Organization did not identify any uncertain tax positions taken or expected to be taken in an income tax return which would require adjustment to or disclosure in its consolidated financial statements. In addition, the Organization believes it has not engaged in any activities for which its tax-exempt status would not be sustained under Internal Revenue Service examination. Generally, the Organization is potentially subject to federal income tax examinations for three years. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE MICHAELS ORGANIZATION EDUCATIONAL FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 90708 | AddressLine1Txt |
| City | CAMDEN | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 223113975 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $12,500 | CashGrantAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | Foresight Affordable Housing, Inc., in partnership with the Michaels Educational Foundation, has been awarding scholarships to residents of Foresight apartment communities on an annual basis since 2015. Foresight awards 6 scholarships each year and in 2023 awarded one additional scholarship. Recipients are selected each year from the pool of Foresight residents selected to receive a scholarship by the Michaels Educational Foundation. The Foresight scholarship funds are added to the amount of money awarded by the Michaels Educational Foundation. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (true) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NELSON L MORGAN III | ||||||||||||||
| VICE PRESIDENT | $222,963 | $0 | $53,000 | $0 | $396 | $0 | $6,818 | $0 | $45,097 | $0 | $328,274 | $0 | $0 | $0 |
| Martin Whalen | ||||||||||||||
| Vice President of Development | $152,524 | $0 | $30,000 | $0 | $762 | $0 | $4,716 | $0 | $39,203 | $0 | $227,205 | $0 | $0 | $0 |
| Shonte' Espinal | ||||||||||||||
| VP of Asset Operations | $147,223 | $0 | $20,000 | $0 | $60 | $0 | $4,532 | $0 | $25,548 | $0 | $197,363 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 7: | FormAndLineReferenceDesc |
| Explanation | The organization issued non-fixed, objective board approved bonuses during calendar year 2023. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A: | THREE MEMBERS OF THE BOARD OF DIRECTORS MAKE UP THE EXECUTIVE COMMITTEE WHO HAVE AUTHORITY TO ACT ON BEHALF OF FORESIGHT AFFORDABLE HOUSING, INC. |
| FORM 990, PART VI, SECTION A, LINE 3: | PROPERTIES OWNED THROUGH FORESIGHT'S AFFILIATES ARE MANAGED BY A CONTRACTED MANAGEMENT AGENT. |
| FORM 990, PART VI, SECTION B, LINE 11B: | FORM 990 WILL BE REVIEWED BY THE FINANCE COMMITTEE, WHICH IS FORESIGHT'S EXECUTIVE COMMITTEE, AND A COPY WILL BE PROVIDED TO THE BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C: | THE ORGANIZATION MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH ANNUAL UPDATES BY BOARD MEMBERS. |
| FORM 990, PART VI, SECTION B, LINES 15A AND 15B: | COMPENSATION IS DETERMINED THROUGH A THIRD-PARTY REVIEW, RECOMMENDATION OF SALARY RANGES BASED ON COMPARATIVE ANALYSIS AND EXECUTIVE BOARD RECOMMENDATION. |
| FORM 990, PART XI, LINE 9: | CUMULATIVE EFFECT OF ADOPTION OF NEW ACCOUNTING STANDARD..................................................$(6,231,133) |
| FORM 990, PART XII, LINE 2C: | THE FINANCIAL COMMITTEE REVIEWS ALL FINANCIAL STATEMENTS, SELECTS INDEPENDENT ACCOUNTANT AND REVIEWS FORM 990. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| foresight affordable housing of pa inc | ||||||||||
| 6601 Ventnor Avenue Suite 23 | Ventnor | NJ | 08406 | 521910387 | RENTAL | PA | 501(c)(3) | 10 | NA | false |
| FORESIGHT AFFORDABLE HOUSING-PENNSVILLe | ||||||||||
| 6601 Ventnor Avenue Suite 23 | Ventnor | NJ | 08406 | 222262967 | RENTAL | NJ | 501(c)(3) | 7 | NA | false |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (27 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | Disproportionate AllocationsDisproportionateAllocationsInd | UBI Code VUBICodeVAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LAFAYETTE FAMILY PHASE II URBAN RENEWAL | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 200439982 | REAL ESTATE | NJ | FAH PACIFIC CT | NONE | $0 | $0 | false | $0 |
| VINELAND ASSOCIATES LLC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 260539415 | REAL ESTATE | NJ | FAH VINELAND | NONE | -$34 | $0 | false | $0 |
| EAST I PRESERVATION LLC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | REAL ESTATE | NJ | FAH EAST I LLC | NONE | $0 | $0 | false | $0 | |
| GLENNVIEW TOWNHOUSES URBAN RENEWAL ASSOC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 271107874 | REAL ESTATE | NJ | FAH GLENNVIEW | NONE | -$53 | $0 | false | $0 |
| CENTERVILLE SOUTH URBAN RENEWAL ASSOCIAT | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 261797224 | REAL ESTATE | NJ | FAH CENTERVILLE | NONE | $0 | $0 | false | $0 |
| ATLANTIC CITY PRESERVATION LLC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 260878703 | REAL ESATE | NJ | FAH-VILLAS WEST | NONE | $0 | $0 | false | $0 |
| OAK DALE APARTMENTS LTD | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630771104 | REAL ESTATE | NJ | FAH HOLDINGS | NONE | $0 | $0 | false | $0 |
| HIGHLAND VIEW APARTMENTS LTD | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630745020 | REAL ESTATE | NJ | FAH HOLDINGS | NONE | $0 | $0 | false | $0 |
| VILLAGE GREEN LTD | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630842875 | REAL ESTATE | NJ | FAH HOLDINGS | NONE | $0 | $0 | false | $0 |
| SUNFLOWER LANE APARTMENTS LTD | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630771106 | REAL ESTATE | NJ | FAH HOLDINGS | NONE | $0 | $0 | false | $0 |
| WOOD VILLAGE APARTMENTS LTD | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630745036 | REAL ESTATE | NJ | FAH HOLDINGS | NONE | $0 | $0 | false | $0 |
| MORGAN VILLAGE URBAN RENEWAL ASSOC LP | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 272534069 | REAL ESTATE | NJ | FAH-MORGAN VILL | NONE | $0 | $0 | false | $0 |
| Keller Court Ltd | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630812275 | REAL ESTATE | NJ | FAH Holdings | NONE | $0 | $0 | false | $0 |
| Driftwood Apartments Ltd | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630807240 | REAL ESTATE | NJ | FAH Holdings | NONE | $0 | $0 | false | $0 |
| Lorena Apartments A California LP | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 263278793 | REAL ESTATE | CA | FAH lorena | NONE | $0 | $0 | false | $0 |
| baxter park south associates lp | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 273008545 | real estate | NJ | fah baxter | NONE | $0 | $0 | false | $0 |
| Hilldale Investors LTD | ||||||||||||
| 3 East Stow Road Suite 100 | camden | NJ | 08102 | 630917593 | Real Estate | NJ | FAH Holdings | NONE | $0 | $0 | false | $0 |
| Rose Garden Apartments LTD | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 630806381 | Real estate | NJ | FAH HOLDINGS | NONE | $0 | $0 | false | $0 |
| TULANE REVITALIZATION 2 LP | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 611677132 | REAL ESTATE | NJ | FAH - CENTENNIA | NONE | $0 | $0 | false | $0 |
| GLENNVIEW TOWNHOUSES II | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 462752700 | REAL ESTATE | NJ | FAH - GLENNVIEW | NONE | -$36 | $0 | false | $0 |
| TULANE REVITALIZATION 1 LP | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 272195181 | REAL ESTATE | NJ | FAH-CENTENNIAL | NONE | $0 | $0 | false | $0 |
| KAMAKANA senior LLC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08053 | 474637738 | REAL ESTATE | HI | FAH-KAMAKANA | NONE | $0 | $0 | false | $0 |
| MAPLE JACK LLC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 473451025 | REAL ESTATE | IL | FAH-CITY GARDEN | NONE | $0 | $0 | false | $0 |
| Legends C-3 LLC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 274470455 | REAL ESTATE | NJ | FAH-LEGENDS C-3 | NONE | $0 | $0 | false | $0 |
| PIEDMONT SENIOR TOWN LLC | ||||||||||||
| 2 cooper street po box 90708 | camden | NJ | 08102 | 473244089 | REAL ESTATE | NJ | FAH-PIEDMONT | NONE | $0 | $0 | false | $0 |
| BEECHLANE APARTMENTS LTD | ||||||||||||
| 2 cooper street po box 90708 | CAMDEN | NJ | 08102 | 275206161 | REAL ESTATE | NJ | FAH-HOLDINGS | NONE | $0 | $0 | false | $0 |
| WEST MAYPOLE LP | ||||||||||||
| 6601 VENTNOR AVE | VENTNOR | NJ | 08406 | 320024261 | REAL ESTATE | IL | FAH-WEST MAYPOL | NONE | $0 | $0 | false | $0 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FAH - LEGENDS C-3 LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6601 VENTNOR AVENUE SUITE 23 | AddressLine1Txt |
| City | VENTNOR | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08406 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 463917978 | EIN |
| Primary Activities | REAL ESTATE | PrimaryActivitiesTxt |
| Legal Domicile State | NJ | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FAHI | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | S CORP | EntityTypeTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (true) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (true) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |