Civic Intelligence

Griggs Farm Inc

EIN 20-8198080 • 501(c)3 • Princeton, NJ

Profile

Provide quality one, two and three bedroom homes in a diverse community for families and households of low income offer social and supportive opportunities and ensure access to the princeton community.

One Monument DrivePrinceton, NJ 08540

www.princetoncommunityhousing.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

62nd percentile

0.15x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.21x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

67th percentile

14%

Higher net margin than 67% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

49th percentile

3.4%

Faster asset growth than 49% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

65th percentile

17%

Faster revenue growth than 65% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$1,039,609

Up $33,938 (+3.4%) from 2023

Liabilities

Down

$155,264

Down $73,463 (-32%) from 2023

Net Assets

Up

$884,345

Up $107,401 (+14%) from 2023

Operations
Liabilities / Revenue67th percentileNet Margin67th percentile

Revenue

Up

$744,446

Up $106,566 (+17%) from 2023

Expenses

Down

$637,045

Down $20,308 (-3.1%) from 2023

Net Income

Up

$107,401

Up $126,874 (+652%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth49th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $2,586,403Liabilities 2010: $379,897Net Assets 2010: $2,206,5062010Assets 2011: $2,386,522Liabilities 2011: $383,594Net Assets 2011: $2,002,9282011Assets 2012: $2,164,388Liabilities 2012: $373,504Net Assets 2012: $1,790,8842012Assets 2013: $1,964,079Liabilities 2013: $368,156Net Assets 2013: $1,595,9232013Assets 2014: $1,739,649Liabilities 2014: $366,529Net Assets 2014: $1,373,1202014Assets 2015: $1,531,744Liabilities 2015: $366,351Net Assets 2015: $1,165,3932015Assets 2016: $1,323,817Liabilities 2016: $345,049Net Assets 2016: $978,7682016Assets 2017: $1,158,778Liabilities 2017: $340,343Net Assets 2017: $818,4352017Assets 2018: $1,071,737Liabilities 2018: $327,070Net Assets 2018: $744,6672018Assets 2019: $1,032,926Liabilities 2019: $296,018Net Assets 2019: $736,9082019Assets 2020: $1,078,943Liabilities 2020: $233,232Net Assets 2020: $845,7112020Assets 2021: $950,124Liabilities 2021: $105,148Net Assets 2021: $844,9762021Assets 2022: $973,076Liabilities 2022: $176,659Net Assets 2022: $796,4172022Assets 2023: $1,005,671Liabilities 2023: $228,727Net Assets 2023: $776,9442023Assets 2024: $1,039,609Liabilities 2024: $155,264Net Assets 2024: $884,3452024

Highlighted filing

2024

Assets$1,039,609
Liabilities$155,264
Net Assets$884,345
Open 2024 Filing

Operations Trend

Revenue Growth65th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $675,0532010Revenue 2011: $467,300Expenses 2011: $670,878Net Income 2011: -$203,5782011Expenses 2012: $697,9762012Revenue 2013: $484,939Expenses 2013: $679,900Net Income 2013: -$194,9612013Revenue 2014: $478,637Expenses 2014: $701,440Net Income 2014: -$222,8032014Revenue 2015: $497,841Expenses 2015: $705,568Net Income 2015: -$207,7272015Revenue 2016: $531,549Expenses 2016: $718,174Net Income 2016: -$186,6252016Revenue 2017: $572,975Expenses 2017: $732,415Net Income 2017: -$159,4402017Revenue 2018: $532,530Expenses 2018: $606,298Net Income 2018: -$73,7682018Revenue 2019: $568,251Expenses 2019: $576,010Net Income 2019: -$7,7592019Revenue 2020: $594,567Expenses 2020: $485,764Net Income 2020: $108,8032020Revenue 2021: $644,310Expenses 2021: $645,045Net Income 2021: -$7352021Revenue 2022: $640,280Expenses 2022: $688,839Net Income 2022: -$48,5592022Revenue 2023: $637,880Expenses 2023: $657,353Net Income 2023: -$19,4732023Revenue 2024: $744,446Expenses 2024: $637,045Net Income 2024: $107,4012024

Highlighted filing

2024

Revenue$744,446
Expenses$637,045
Net Income$107,401
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,039,609
Liabilities
$155,264
Net assets
$884,345
Revenue
$744,446
Expenses
$637,045
Net income
$107,401
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.04$0.16$0.88$0.74$0.64$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.01$0.23$0.78$0.64$0.66$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.97$0.18$0.80$0.64$0.69$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.95$0.11$0.84$0.64$0.65$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.08$0.23$0.85$0.59$0.49$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.03$0.30$0.74$0.57$0.58$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.07$0.33$0.74$0.53$0.61$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.16$0.34$0.82$0.57$0.73$0.16
2016Detailed filing. Detailed filing data is available for this year.$1.32$0.35$0.98$0.53$0.72$0.19
2015Detailed filing. Detailed filing data is available for this year.$1.53$0.37$1.17$0.50$0.71$0.21
2014Detailed filing. Detailed filing data is available for this year.$1.74$0.37$1.37$0.48$0.70$0.22
2013Detailed filing. Detailed filing data is available for this year.$1.96$0.37$1.60$0.48$0.68$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.16$0.37$1.79$0.70
2011Summary only. Only limited summary data is available for this year.$2.39$0.38$2.00$0.47$0.67$0.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$0.38$2.21$0.68
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$744,446
Mission and Program Overview

Mission

Provide quality one, two and three bedroom homes in a diverse community for families and households of low income. Offer social and supportive opportunities and ensure access to the princeton community. For 2014, the income ceiling for our 117 residents was $41,460 for a single person, $47,340 for a two-person household, and $59,160 for a family of four.

Provide quality homes in a diverse community for households whose total gross incomes fall between 30 and 60 percent of the area median and within guidelines set by the department of housing and urban development for low income households rent for all units is set at 30% of gross income.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$817,221$821,791▲ $4,570
Cash and Non-Interest-Bearing Accounts$14,530$97,366▲ $82,836
Prepaid Expenses and Deferred Charges$20,137$18,053▼ $2,084
Accounts Receivable$35,551$3,787▼ $31,764
Total Assets$1,005,671$1,039,609▲ $33,938
Other Assets Total$118,232$98,612▼ $19,620
Liabilities
Escrow Account Liability$69,662$70,321▲ $659
Accounts Payable and Accrued Expenses$144,756$47,865▼ $96,891
Deferred Revenue$14,309$36,108▲ $21,799
Other Liabilities$0$970▲ $970
Total Liabilities$228,727$155,264▼ $73,463
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$776,944$884,345▲ $107,401
Total Net Assets Fund Balance$776,944$884,345▲ $107,401
Total Liabilities and Net Assets / Fund Balance$1,005,671$1,039,609▲ $33,938

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$415,310$6,367,751$6,783,061
Land$406,481-$406,481
Other Assets Org$28,389--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Janet McclaffertyOutgoing Finance Director$128,032$128,032
Alicia DefreitasFinance Director$107,308$107,308

Board Members and Trustees

NameTitle
Alice K SmallPresident
Kathleen K FarewellVice President
Abreah SantiagoBoard Member
C Vanleer DavisBoard Member
Chad KlausBoard Member
Daniela Bonafede-chhabraBoard Member
Elizabeth HockBoard Member
James DemetriadesBoard Member
John W GilmoreBoard Member
Margaret GriffinBoard Member
Nicole SheltonBoard Member
Richard GittlemanBoard Member
Sonia ChadhaBoard Member
Valerie HaynesBoard Member
Edward TruscelliExecutive Director
Robert FernholzSecretary
Tony CapozzoliTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$110,028
Program Service Revenue
$634,400
Investment Income
$18
Other Revenue
$0
All Other Contributions
$28
Change in Net Assets
$107,401

Audited Revenue Reconciliation

Revenue per Audited Statements
$744,446
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$8,033,675
Total Revenue per Audited Statements
$8,778,121
Total Revenue per Form 990
$744,446
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$637,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$200,730$67,980-$268,710
Occupancy$79,348--$79,348
Depreciation Depletion$26,140--$26,140
Office Expenses$5,615$7,355-$12,970
Fees for Services Accounting-$12,089-$12,089
Fees for Services Legal$5,863--$5,863
Information Technology$1,489$1,489-$2,978
All Other Expenses$80$2,385-$2,465
Other Expenses$620--$620
Total Functional Expenses$545,747$91,298$0$637,045

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,933,548
Expenses Not Reported on Form 990$8,296,503
Expenses per Audited Statements$637,045
Total Expenses per Form 990$637,045
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due From Affiliate$970
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Oversight of management functions for the corporation are performed by pch development corporation, a related party.”

Form 990, Part VI, Section B, Line 11B

“A draft copy of the 990, with the schedule b removed due to donor requests for anonymity, is emailed to board members before the 990 is filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“Trustees and the key employees are required to sign a conflict of interest policy annually.”

Form 990, Part VI, Section C, Line 18

“990 is available via www.guidestar.org and upon request.”

Form 990, Part VI, Section C, Line 19

“All documents described are available upon request.”

Filing and Contact Details

Filer

Filer Name
Griggs Farm Inc
EIN
20-8198080
Phone
6099243822
Address
ONE MONUMENT DRIVE, PRINCETON, NJ 08540

Signing Officer

Name
Edward Truscelli
Title
Executive Director
Phone
6099243822
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward Truscelli
Formed
2007
Legal Domicile
Nj
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
16

Preparer

Firm
Cohnreznick Advisory LLC
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Jolanta Tuck
Phone
2122970400
Supplemental Narrative

Additional Explanations

FORM 990, PG 6, SEC B QUESTIONS 15A AND 15B:

“These questions are answered no in accordance with irs form 990 instructions. The related organization, which paid officer compensation, used a process for determining compensation that included 1) review and approval by a governing board or committee comprised of persons with no conflict of interest, 2) use of data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations, 3) contemporaneous documentation and recordkeeping.”

Financial Statement Notes

PART IV, LINE 2B:

“Tenant security deposits are held in a separate interest bearing bank account in the name of the organization in trust for the tenants.”

PART X, LINE 2:

“Due to their tax-exempt status, pch and nonprofit corporate affiliates are not subject to income taxes. Pch and nonprofit corporate affiliates are required to file and do file tax returns with the irs and other taxing authorities. Accordingly, these consolidated and combined financial statements do not reflect a provision for income taxes and pch and nonprofit corporate affiliates have no other tax positions which must be considered for disclosure. Pch and nonprofit corporate affiliates are no longer subject to u.s. Federal, state, or local income tax examinations by tax authorities for years ended december 31, 2021 and prior.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Related organization revenues 8,496,392. Related organization eliminations -462,717.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Related organization expenses 9,085,309. Related organization eliminations -788,806.”

Raw XML AppendixShowing 400 of 680 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0PROVIDE QUALITY HOMES IN A DIVERSE COMMUNITY FOR HOUSEHOLDS WHOSE TOTAL GROSS INCOMES FALL BETWEEN 30 AND 60 PERCENT OF THE AREA MEDIAN AND WITHIN GUIDELINES SET BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR LOW INCOME HOUSEHOLDS RENT FOR ALL UNITS IS SET AT 30% OF GROSS INCOME.
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IRS990/Desc0GRIGGS FARM, INC OWNS 70 AFFORDABLE LOW INCOME UNITS. THE GRIGGS FARM COMMUNITY ALSO INCLUDES 70 AFFORDABLE OWNERSHIP UNITS MANAGED BY THE MUNICIPALITY OF PRINCETON, AND 140 MARKET RATE PRIVATE OWNERSHIP UNITS. GRIGGS FARM WAS DEVELOPED THROUGH THE FEDERAL LOW INCOME HOUSING TAX CREDIT PROGRAM, ALL TAX CREDITS WERE REDEEMED IN 2005 THERE ARE NO CURRENT GOVERNMENT SUBSIDIES AND GRIGGS FARM INC'S OPERATIONS ARE FINANCED SOLELY FROM THE RENTAL INCOME DERIVED FROM ITS 70 UNITS. THROUGH CAREFUL MANAGEMENT, WE ARE ABLE TO HOLD RENTS TO 30% OF EACH HOUSEHOLD'S GROSS INCOME. PCH DEVELOPMENT CORP A RELATED NONPROFIT ORGANIZATION, MANAGES THE UNITS AND OPERATIONS GRIGGS FARM IS SERVED DAILY VIA PUBLIC BUS TRANSPORTATION, ENABLING RESIDENTS TO TRAVEL TO NEARBY JOBS AND SHOPPING, DOWNTOWN PRINCETON AND AREA MALLS. GRIGGS FARM, INC WORKS WITH MERCER STREET FRIENDS TO OFFER A TWICE-A-MONTH FOOD PANTRY TO RESIDENTS (FREE OF CHARGE) WHO ARE INCOME QUALIFIED STAFF AND VOLUNTEERS, MAKE SURE THAT FOOD BAGS ARE DISTRIBUTED TO EACH ELIGIBLE HOUSEHOLD. THE FOOD IS PURCHASED THROUGH THE GRIGGS FARM INC OPERATING BUDGET OR DONATED EVERY THANKSGIVING. FOOD PANTRY HOUSEHOLDS ALSO RECEIVE A TURKEY AND TRIMMING AT NO COST. GRIGGS FARM INC ALSO PROVIDES RESIDENTS WITH CHILDREN UNDER THE AGE OF 18 WITH A STIPEND TO SUBSIDIZE SUMMER ACTIVITIES ADMINISTERED THROUGH VARIOUS LOCAL ENRICHMENT PROGRAMS, INCLUDING THE MUNICIPAL RECREATION DEPARTMENT A REPRESENTATIVE FROM THE PCH BOARD OF TRUSTEES AND INTERNAL. GRIGGS FARM COMMITTEE WORKS CLOSELY WITH THE GRIGGS FARM CONDO ASSOCIATION AND ITS BOARD TO ENSURE CONSTANT COMMUNICATION THERE IS ALSO A COMMUNITY CLUBHOUSE ON SITE FOR RESIDENT USE. ELIGIBLE RESIDENTS MAY PARTICIPATE IN THE FOOD PANTRY AND SUMMER RECREATION STIPEND PROGRAMS.
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