University Court Inc
- Assets
- $3.3m
- Revenue
- $246.6k
- Investments
- $0.0
- Employees
- 10
- Location
- Newark, NJ
- Founding
- Data as of
- 12/2021
- EIN
- 22-1919986
Organization Overview
University Court Inc is located in Newark, NJ. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, University Court Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Court 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, University Court Inc generated $246.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (9.4%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FOR LOW AND MODERATE INCOME FAMILIES IN THE CITY OF NEWARK, NJ
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR LOW AND MODERATE INCOME FAMILIES IN THE CITY OF NEWARK, NJ
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Thigpen President And Member | OfficerTrustee | 0 | $0 |
Venzetta Huffine Jackson Treasurer And Member | OfficerTrustee | 0 | $0 |
James Godley Board VP And Member | OfficerTrustee | 0 | $0 |
Shirley Taylor Board Secretary And Trustee | OfficerTrustee | 0 | $0 |
Carol Blocker Board Member | Trustee | 0 | $0 |
Elizabeth Tolbert Board Member | Trustee | 0 | $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 | $1,052 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $245,579 |
| 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 | $246,631 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,583 |
| Savings and temporary cash investments | $66,072 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $241,337 |
| 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 | $123,186 |
| Net Land, buildings, and equipment | $1,208,458 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,593,209 |
| Total assets | $3,275,845 |
| Accounts payable and accrued expenses | $250,963 |
| Grants payable | $0 |
| Deferred revenue | $19,158 |
| 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 | $2,664,720 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $72,500 |
| Total liabilities | $3,007,341 |
| Net assets without donor restrictions | $268,504 |
| 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 | $3,275,845 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Providence Housing Development Corporation Rochester, NY | $12,131,024 | $9,484,321 |
Equinox Inc Albany, NY | $7,754,124 | $11,254,428 |
Daughter Of Miriam Association Clifton, NJ | $0 | $8,577,466 |
Rochester Management Inc Rochester, NY | $15,106,778 | $10,149,651 |
Jerome Avenue Care For The Homeless New York, NY | $8,771,577 | $9,215,112 |
Fox Lake Ahf Inc Newark, NJ | $17,499,126 | $5,986,974 |
Oub Court Housing Company Inc Bronx, NY | $15,971,755 | $7,036,525 |
Southeast Grand St Guild Hdf Co Inc Residential Management Assoc Inc Garden City, NY | $32,454,650 | $10,208,365 |
Norris Square Community Alliance Philadelphia, PA | $13,759,138 | $8,779,038 |
Hebrew Home Housing Development Fund Co Inc Bronx, NY | $13,025,058 | $6,258,776 |
1st Cerebral Palsy Of New Jersey Inc Belleville, NJ | $2,942,759 | $6,851,396 |
Fordham Bedford Housing Corp Bronx, NY | $73,266,623 | $9,182,543 |