323 Sbs Fund Inc
- Assets
- $645.4k
- Revenue
- $20.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Trenton, NJ
- Founding
- 08/2015
- Data as of
- 12/2022
- EIN
- 47-2912947
Organization Overview
323 Sbs Fund Inc is located in Trenton, NJ. The organization was established in 2015. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 323 Sbs Fund 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 12/2022, 323 Sbs Fund Inc generated $20.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (28.3%) each year. All expenses for the organization totaled $28.0k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE 323 SBS FUND IS A CHARITABLE FUND SUPPORTING THE GENERAL MISSION OF LUTHER ARMS,INC -A LUTHERAN CHURCH RELATED HUD HOUSING FACILITY IN TRENTON,NJ
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE 323 SBS,INC FUND IS A 501C-3 ORGANIZATION WHICH EXISTS TO SUPPLEMENT AND ENHANCE THE GENERAL LIVES OF THE LUTHER ARMS,INC HOUSING COMMUNITY,A SECT 8/202 HUD SPONSORED HOUSING FACILITY IN TRENTON,NJ. THE FUND CONDUCTS AN ANNUAL ROUND OF COMMUNITY SUPPORT THROUGH THE DISTRIBUTIION OF SOME PERCENTAGE OF IT'S ASSETS AND INCOME TO CHURCH RELATED AND NOT FOR PROFIT COMMUNITY ORGANIZATIONS IN THE LOCAL MERCER COUNTY,NJ AREA. THE LUTHER ARMS BUILDING HAS 150 APARTMENTS AVAILABLE FOR RENT.
THE 323 SBS FUND BEGAN IT'S CHARITABLE ACTIVITY IN 2019.THE FUND MANAGEMENT IS FURTHER EXPLORING THE APPROPRIATE TIME FRAME FOR CHARITABLE ACTIVITY BUT IT IS EXPECTED TO GENERATE ONE ROUND OF GIVING PER YEAR-THE TARGET IS FOUR/ FIVE CHARITABLE GIFTS PER YEAR.
THE 323 SBS FUND IS A CHARITABLE ORGANIZATION ORGANIZED TO GENERALLY SUPPORT THE WORK OF THE LUTHER ARMS APARTMENT BUILDING --A LUTHERAN CHURCH AFFILIATED 501[C]3 LOCATED IN TRENTON,NJ.
ADDITIONAL GIFTS..
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Burd Trustee | Trustee | 1 | $0 |
David Smith Trustee | Trustee | 1 | $0 |
Albert Cowell Trustee | Trustee | 1 | $0 |
Rosie Jackson Trustee | Trustee | 0.5 | $0 |
Raymond Kolison Trustee | Trustee | 0.5 | $0 |
Richard Sword Trustee | Trustee | 2 | $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 | $20,011 |
| 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 | $20,011 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $28,000 |
| 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 | $28,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,611 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $617,817 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $645,428 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $645,428 |
| Total liabilities and net assets/fund balances | $645,428 |
Grants Awarded
Over the last fiscal year, 323 Sbs Fund Inc has awarded $28,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LIBERIAN MISSION OF USA PURPOSE: gift in support of Rev Francis Keelakii and his educational and mission work in Liberia | $10,000 |
ST BARTHOLOMEWS LUTHERAN CHURCH PURPOSE: a gift in general support of the Community work of our neighbor,St Bartholomews Church in Trenton. | $6,000 |
Trenton, NJ PURPOSE: gift in support of Community Activities of Isles-particularly in the area of replanting urban spaces with hardwood trees/ reforestation. | $6,000 |
Ewing, NJ PURPOSE: gift in general support of the Community Work of the Trenton Track Club. | $6,000 |
Endowment Analysis
| Beg. Balance | $528,872 |
| Earnings | -$3,213 |
| Admin Expense | $26 |
| Ending Balance | $525,633 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brethren Home Foundation New Oxford, PA | $93,081,765 | $10,604,405 |
Charles T Sitrin Network Of Homes & Services Inc New Hartford, NY | $5,734,568 | $2,565,351 |
Community Lenders Community Development Corporation Souderton, PA | $50,531,502 | $2,129,949 |
St Andrews Housing Dev Fund Co Bronx, NY | $6,076,696 | $1,599,941 |
Concorse Gardens Housing Development Fund Company Inc New York, NY | $6,125,545 | $1,915,994 |
Our Lady Of Fatima Apartments Housing Dev Fund Company Inc Brooklyn, NY | $6,530,778 | $972,901 |
American Friends Of Belz Inc Brooklyn, NY | $1,617,806 | $1,168,906 |
S H Housing Development Fund Corp New York, NY | $3,549,105 | $166,911 |
Community Lending Partners Of New Jersey Inc New Brunswick, NJ | $21,629,917 | $1,269,329 |
Build Love And Hope Inc North Arlington, NJ | $0 | $1,080,899 |
384 Grand Street Housing Development Fund Company Inc New York, NY | $6,755,977 | $3,220,703 |
Cucs Initiatives Inc New York, NY | $10,594,061 | $803,277 |