Homes Now Inc
- Assets
- $9.7m
- Revenue
- $587.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Brick Township, NJ
- Founding
- 02/1998
- Data as of
- 12/2021
- EIN
- 22-3548435
Organization Overview
Homes Now Inc is located in Brick Township, NJ. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Homes Now Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homes Now 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, Homes Now Inc generated $587.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $685.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (17.0%) per year over the past 7 years. 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
PROVIDE AFFORDABLE HOUSING TO LOW AND MODERATE INCOME HOUSING
Describe the Organization's Program Activity:
RENOVATE AND CONSTRUCT NEW HOUSING FOR LOW INCOME HOUSING FAMILIES, MONITOR AND PROVIDE MANGEMENT SERVICES FOR LOW INCOME HOUSING PROJECTS FOR COAH COMPLIANCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Hoffmann Executive Director | Officer | 40 | $112,558 |
Paul Barlo President- Trustee | OfficerTrustee | 2 | $0 |
Beth Meckel Treasurer- Trustee | OfficerTrustee | 2 | $0 |
Sharon Labash Vice President- Trustee | OfficerTrustee | 2 | $0 |
Christine Mcbride Secretary-Trustee | OfficerTrustee | 2 | $0 |
Enza Colucci Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
North Shore Homes Llc Construction (Home Building) | 12/30/18 | $420,869 |
Carol Wolfe Settlement Agreement | 12/30/18 | $200,000 |
Klm Construction Llc Construction (Home Building) | 12/30/18 | $160,659 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $177,985 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,248 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $186,233 |
| Total Program Service Revenue | $301,094 |
| Investment income | $8,448 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $88,757 |
| 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 | $587,737 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $765 |
| 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. | $112,558 |
| Compensation of current officers, directors, key employees. | $43,422 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,573 |
| Pension plan accruals and contributions | $4,018 |
| Other employee benefits | $21,666 |
| Payroll taxes | $33,472 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,587 |
| Fees for services: Accounting | $3,802 |
| 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 | $24,787 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $147,634 |
| Travel | $2,108 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,424 |
| Insurance | $26,837 |
| All other expenses | $2,869 |
| Total functional expenses | $685,396 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,666,835 |
| Savings and temporary cash investments | $200,201 |
| Pledges and grants receivable | $6,301 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $216,936 |
| Inventories for sale or use | $4,581,327 |
| Prepaid expenses and deferred charges | $11,157 |
| Net Land, buildings, and equipment | $2,974,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,111 |
| Total assets | $9,703,565 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $992,927 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,428,217 |
| Total liabilities | $3,421,144 |
| Net assets without donor restrictions | $6,281,280 |
| Net assets with donor restrictions | $1,141 |
| 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 | $9,703,565 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aspire Of Western New York Inc Getzville, NY | $37,144,710 | $73,972,719 |
Allegheny Council To Improve Our Neighborhoods-Housing Incorporated Pittsburgh, PA | $58,739,057 | $67,049,805 |
Commission On Economic Opportunity Of Luzerne County Wilkesbarre, PA | $24,684,280 | $41,061,242 |
Community First Fund Lancaster, PA | $129,035,730 | $44,963,943 |
Womens Housing And Economic Development Corporation Bronx, NY | $29,527,353 | $27,859,543 |
Joint Ownership Entity New York City Corp New York, NY | $155,995,039 | $17,434,025 |
Breaking Ground Housing Development Fund Corporation New York, NY | $193,138,085 | $25,961,669 |
Highland Park Community Development Corporation Brooklyn, NY | $3,265,910 | $15,414,103 |
Beyond Owners Group Inc Willow Street, PA | $131,731,512 | $8,827,345 |
Springpoint Senior Living Inc Cherry Hill, NJ | $72,542,176 | $10,591,630 |
Interstate I Affordable Housing Inc New York, NY | $783,725 | $8,991,908 |
Ascendant Neighborhood Development Corporation New York, NY | $39,528,943 | $4,446,577 |