Morrisville Presbytarian Apartments Residents Association is located in Lafayette Hill, PA. The organization was established in 1986. 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, Morrisville Presbytarian Apartments Residents Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morrisville Presbytarian Apartments Residents Association 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, Morrisville Presbytarian Apartments Residents Association generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 0.8% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION OWNS AND OPERATES A 100-UNIT AFFORDABLE HOUSING COMMUNITY IN MORRISVILLE, PA.
Describe the Organization's Program Activity:
THE ORGANIZATION ENGAGES IN THE OPERATION, MAINTENANCE, AND SUPPORT OF A 100 UNIT AFFORDABLE HOUSING APARTMENT BUILDING FOR THE ELDERLY AND PHYSICALLY DISABLED, OFFERING SUPPORT SERVICES AND RECREATIONAL ACTIVITIES TO FACILITATE INCREASED SOCIALIZATION AND ENRICHMENT FOR ALL RESIDENTS IN A POSITIVE AND WELCOMING ENVIRONMENT. 99 OF THE 100 UNITS ARE AVAILABLE TO RESIDENTS. AS OF DECEMBER 31, 2021, THERE WERE 101 RESIDENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Alan Griffith Vice Chair | OfficerTrustee | 0.1 | $0 |
Randall Stamper Chair | OfficerTrustee | 0.2 | $0 |
H Declan Brown Secretary | OfficerTrustee | 0.1 | $0 |
John H Cochrane III President/chief Executive Officer | Officer | 0.2 | $0 |
Daniel Ogus Chief Operating Officer | Officer | 0.2 | $0 |
Bethany Ghassemi Chief Legal Counsel | Officer | 0.2 | $0 |
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 | $11,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $11,000 |
Total Program Service Revenue | $1,503,258 |
Investment income | $558 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
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 | $1,530,041 |
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 | $269,170 |
Pension plan accruals and contributions | $7,530 |
Other employee benefits | $37,701 |
Payroll taxes | $27,443 |
Fees for services: Management | $74,428 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $20,600 |
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 | $23,592 |
Information technology | $5,745 |
Royalties | $0 |
Occupancy | $151,380 |
Travel | $60 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $3,533 |
Interest | $260,311 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $152,476 |
Insurance | $41,546 |
All other expenses | $18,152 |
Total functional expenses | $1,309,196 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $15,199 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,401 |
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 | $19,144 |
Net Land, buildings, and equipment | $743,264 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $2,642,969 |
Total assets | $3,421,977 |
Accounts payable and accrued expenses | $187,928 |
Grants payable | $0 |
Deferred revenue | $1,560 |
Tax-exempt bond liabilities | $3,878,006 |
Escrow or custodial account liability | $34,287 |
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 | $56,278 |
Total liabilities | $4,158,059 |
Net assets without donor restrictions | -$808,326 |
Net assets with donor restrictions | $72,244 |
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 | $3,421,977 |
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Reach Riverside Development Corporation Wilmington, DE | $31,775,413 | $42,220,664 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
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