Ridge Oak Inc
- Assets
- $32.6m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 38
- Location
- Basking Ridge, NJ
- Founding
- 07/1978
- Data as of
- 06/2023
- EIN
- 22-2185024
Organization Overview
Ridge Oak Inc is located in Basking Ridge, NJ. The organization was established in 1978. 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 06/2023, Ridge Oak Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ridge Oak 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 06/2023, Ridge Oak Inc generated $7.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $5.1m during the year ending 06/2023. While expenses have increased by 3.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A RESIDENTIAL HOUSING PROJECT IN BASKING RIDGE, NJ PRIMARILY FOR LOW INCOME ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF 248 UNITS FOR HOUSING AND RELATED SERVICES FOR THE ELDERLY IN BASKING RIDGE, NJ PURSUANT TO SECTION 8 OF THE US HOUSING ACT OF 1937. RENT SUBSIDY IS PROJECT BASED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Graff Treasurer | OfficerTrustee | 1 | $0 |
Russell E Archer Jr Trustee | Trustee | 0.3 | $0 |
Bob Tallaksen Trustee | Trustee | 0.3 | $0 |
Pamela Bowman Trustee | Trustee | 0.3 | $0 |
Susan M Gannon Secretary | OfficerTrustee | 1 | $0 |
Susan Pape President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jewel Construction Llc | 6/29/15 | $1,053,504 |
Schaible's Plumbing & Heating | 6/29/15 | $248,803 |
Sacchitelli Landscape Concepts Inc | 6/29/15 | $128,873 |
Trak Associates Inc | 6/29/15 | $121,424 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $216,629 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,968 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $265,597 |
| Total Program Service Revenue | $6,760,035 |
| Investment income | $514,552 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $181,564 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,721,748 |
| 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 | $1,371,241 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $379,343 |
| Payroll taxes | $81,254 |
| Fees for services: Management | $220,896 |
| Fees for services: Legal | $19,534 |
| Fees for services: Accounting | $25,643 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,896 |
| Fees for services: Other | $78,516 |
| Advertising and promotion | $3,732 |
| Office expenses | $138,376 |
| Information technology | $17,567 |
| Royalties | $0 |
| Occupancy | $272,921 |
| Travel | $20,333 |
| 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 | $1,047,870 |
| Insurance | $277,123 |
| All other expenses | $54,059 |
| Total functional expenses | $5,087,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,394 |
| Savings and temporary cash investments | $678,149 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,828 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,347,572 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $298,536 |
| Net Land, buildings, and equipment | $13,030,615 |
| Investments—publicly traded securities | $16,869,263 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $123,922 |
| Total assets | $32,623,279 |
| Accounts payable and accrued expenses | $198,054 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $123,922 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $321,976 |
| Net assets without donor restrictions | $32,301,303 |
| 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 | $32,623,279 |