Civic Intelligence

Westfield Senior Citizens Housing Corporation

EIN 22-2083588 • 501(c)3 • Westfield, NJ

Profile

To extend the independence of senior citizens through the provision of comfortable, affordable housing in conjunction with social and recreational activities.

1133 Boynton AvenueWestfield, NJ 07090

www.westfieldseniorhousing.com

Siviq Scores

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

Liabilities / Assets

64th percentile

0.40x

Higher debt load relative to assets than 64% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

3.87x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

4th percentile

-61%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

32nd percentile

$262,178

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

16th percentile

-3.5%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

38%

Faster revenue growth than 82% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Down

$65,494,799

Down $2,383,946 (-3.5%) from 2023

Liabilities

Up

$26,128,816

Up $23,470 (+0.1%) from 2023

Net Assets

Down

$39,365,983

Down $2,407,416 (-5.8%) from 2023

Revenue

Up

$6,752,951

Up $1,852,855 (+38%) from 2023

Expenses

Up

$10,848,643

Up $3,860,020 (+55%) from 2023

Net Income

Down

-$4,095,692

Down $2,007,165 (-96%) from 2023

Trend Graphs

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2012: $23,721,807Liabilities 2012: $307,884Net Assets 2012: $23,413,9232012Assets 2013: $24,930,244Liabilities 2013: $389,799Net Assets 2013: $24,540,4452013Assets 2014: $26,503,792Liabilities 2014: $353,489Net Assets 2014: $26,150,3032014Assets 2015: $40,265,068Liabilities 2015: $13,079,284Net Assets 2015: $27,185,7842015Assets 2016: $41,213,713Liabilities 2016: $12,996,181Net Assets 2016: $28,217,5322016Assets 2017: $45,645,537Liabilities 2017: $13,152,505Net Assets 2017: $32,493,0322017Assets 2018: $46,028,699Liabilities 2018: $13,222,602Net Assets 2018: $32,806,0972018Assets 2019: $49,874,358Liabilities 2019: $12,956,638Net Assets 2019: $36,917,7202019Assets 2020: $53,675,434Liabilities 2020: $13,097,741Net Assets 2020: $40,577,6932020Assets 2021: $56,586,054Liabilities 2021: $13,158,466Net Assets 2021: $43,427,5882021Assets 2022: $52,611,155Liabilities 2022: $13,065,397Net Assets 2022: $39,545,7582022Assets 2023: $67,878,745Liabilities 2023: $26,105,346Net Assets 2023: $41,773,3992023Assets 2024: $65,494,799Liabilities 2024: $26,128,816Net Assets 2024: $39,365,9832024

Highlighted filing

2024

Assets$65,494,799
Liabilities$26,128,816
Net Assets$39,365,983

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2012: $3,428,107Expenses 2012: $2,605,239Net Income 2012: $822,8682012Revenue 2013: $3,768,747Expenses 2013: $2,809,560Net Income 2013: $959,1872013Revenue 2014: $3,913,143Expenses 2014: $2,607,271Net Income 2014: $1,305,8722014Revenue 2015: $3,747,455Expenses 2015: $2,748,950Net Income 2015: $998,5052015Revenue 2016: $5,099,604Expenses 2016: $3,469,649Net Income 2016: $1,629,9552016Revenue 2017: $4,656,958Expenses 2017: $3,117,538Net Income 2017: $1,539,4202017Revenue 2018: $5,391,969Expenses 2018: $3,122,552Net Income 2018: $2,269,4172018Revenue 2019: $5,108,055Expenses 2019: $3,197,384Net Income 2019: $1,910,6712019Revenue 2020: $5,019,905Expenses 2020: $3,451,638Net Income 2020: $1,568,2672020Revenue 2021: $6,483,866Expenses 2021: $3,800,140Net Income 2021: $2,683,7262021Revenue 2022: $4,747,355Expenses 2022: $3,107,440Net Income 2022: $1,639,9152022Revenue 2023: $4,900,096Expenses 2023: $6,988,623Net Income 2023: -$2,088,5272023Revenue 2024: $6,752,951Expenses 2024: $10,848,643Net Income 2024: -$4,095,6922024

Highlighted filing

2024

Revenue$6,752,951
Expenses$10,848,643
Net Income-$4,095,692

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$65.5$26.1$39.4$6.75$10.8$4.10
2023Summary only. Only limited summary data is available for this year.$67.9$26.1$41.8$4.90$6.99$2.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.6$13.1$39.5$4.75$3.11$1.64
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$56.6$13.2$43.4$6.48$3.80$2.68
2020Summary only. Only limited summary data is available for this year.$53.7$13.1$40.6$5.02$3.45$1.57
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$49.9$13.0$36.9$5.11$3.20$1.91
2018Summary only. Only limited summary data is available for this year.$46.0$13.2$32.8$5.39$3.12$2.27
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.6$13.2$32.5$4.66$3.12$1.54
2016Summary only. Only limited summary data is available for this year.$41.2$13.0$28.2$5.10$3.47$1.63
2015Summary only. Only limited summary data is available for this year.$40.3$13.1$27.2$3.75$2.75$1.00
2014Summary only. Only limited summary data is available for this year.$26.5$0.35$26.2$3.91$2.61$1.31
2013Summary only. Only limited summary data is available for this year.$24.9$0.39$24.5$3.77$2.81$0.96
2012Summary only. Only limited summary data is available for this year.$23.7$0.31$23.4$3.43$2.61$0.82
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$4,762,575
Mission and Program Overview

Mission

To extend the independence of senior citizens through the provision of comfortable, affordable housing in conjunction with social and recreational activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$29,059,643$24,335,663▼ $4,723,980
Other Notes and Loans Receivable, Net$21,651,191$21,674,943▲ $23,752
Land, Buildings, and Equipment, Net$3,071,004$2,995,224▼ $75,780
Savings and Temporary Cash Investments$1,954,590$2,532,528▲ $577,938
Cash and Non-Interest-Bearing Accounts$480,409$620,892▲ $140,483
Accounts Receivable$73,442$155,914▲ $82,472
Prepaid Expenses and Deferred Charges$56,220$47,208▼ $9,012
Total Assets$56,586,054$52,611,155▼ $3,974,899
Other Assets Total$239,555$248,783▲ $9,228
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,719,100$12,719,100→ $0
Accounts Payable and Accrued Expenses$368,865$269,462▼ $99,403
Other Liabilities$70,501$76,835▲ $6,334
Total Liabilities$13,158,466$13,065,397▼ $93,069
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,427,588$39,545,758▼ $3,881,830
Total Net Assets Fund Balance$43,427,588$39,545,758▼ $3,881,830
Total Liabilities and Net Assets / Fund Balance$56,586,054$52,611,155▼ $3,974,899

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,507,882$9,641,302$12,149,184
Equipment$351,742$2,138,289$2,490,031
Other Land Buildings$135,600-$135,600
Land$0--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth A Fennik--$250,981$54,483$305,464
Elizabeth A FennikExecutive DirectorFT$275,981$12,675$288,656

Board Members and Trustees

NameTitle
John MountPresident
Tim HerzogVice President
Bruce E LongTrustee
John DuffyTrustee
Lenore C ScurryTrustee
Margaret BlancoTrustee
Matthew SheehyTrustee
Neil SullivanTrustee
Ray LucasTrustee
Rosemary MilletTrustee
Thomas QuinnTrustee
William FitzpatrickTrustee
Gerald RobinsonSecretary
John LesherTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Manfredi & PellechioLegal ServicesPO Box 459, Colts Neck, NJ 07722$398,523
United Healthcare OxfordHealth Insurance48 Monroe Tpk, Trumbull, CT 06611$216,236
Pse&gElectric Utility80 Park Place, Newark, NJ 07102$172,040
Johnson Kendall & JohnsonInsurance109 Pheasant Run, Newtown, PA 18940$149,176
Revenue and Support

Revenue Composition

Contributions and Grants
$3,538,977
Program Service Revenue
$986,881
Investment Income
$219,108
Other Revenue
$2,389
Change in Net Assets
$1,639,915

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,529,852
Revenue Not Reported on Form 990
$-4,991,992
Total Revenue per Audited Statements
$-462,140
Total Revenue per Form 990
$4,529,852
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,892,731
Salaries, Compensation, and Employee Benefits$1,214,709
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$609,978$151,340$0$761,318
Other Salaries and Wages$377,290$293,902$0$671,192
Fees for Services Legal$0$429,889$0$429,889
Other Expenses$375,076$0$0$375,076
Current Officers, Directors, Trustees, and Key Employees$104,191$156,288$0$260,479
Insurance$150,810$37,703$0$188,513
Other Employee Benefits$76,883$70,381$0$147,264
Payroll Taxes$39,696$36,338$0$76,034
Pension Plan Contributions$33,241$26,499$0$59,740
Office Expenses$0$59,054$0$59,054
Fees for Services Accounting$0$48,821$0$48,821
All Other Expenses$22,442$7,618$0$30,060
Total Functional Expenses$1,789,607$1,317,833$0$3,107,440

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,426,902
Expenses per Audited Statements$8,411,682
Total Expenses per Form 990$8,411,682
Expenses Not Reported on Form 990$15,220
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Westfield Rescue SquadWestfield, NJ-aid to senior tenants$45,000
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
Tenant Security Deposits$76,835
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Westfield Senior Citizens Housing Corporation
EIN
22-2083588
Phone
9082335898
Address
1133 Boynton Avenue, Westfield, NJ 07090

Signing Officer

Name
Elizabeth A Fennik
Title
Executive Director
Phone
9082335898
Signed
2023-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth A Fennik
Formed
1977
Legal Domicile
Nj
Voting Board Members
14
Independent Board Members
14
Employees
21
Volunteers
14

Preparer

Firm
Suplee Clooney and Company
Address
308 E Broad St, Westfield, NJ 07090
Preparer
Robert J Butvilla
Phone
9087899300
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Finance Committee reviews the 990 and presents it to the Board.

Pt VI, Line 12C

Annual Review by the Board of Trustees.

Pt VI, Line 15A

Annual Review by the Board of Trustees and study of market wages.

Pt VI, Line 15B

Annual Review by the Board of Trustees and study of market wages.

Pt VI, Line 8B

Committee meeting Minutes are maintained for the Executive Committee only.

Pt VI, Line 19

Documents are available on request.

Financial Statement Notes

Pt XI, Line 2D

Store items - cost of goods sold

Pt XII, Line 2D

Store items - cost of goods sold

Pt XI, Line 4B

Investment Management Fees & Foreign Taxes net to Revenues - $168,594

Pt XII, Line 4B

Investment Management Fees & Foreign Taxes net to Revenues - $168,594

Raw XML AppendixShowing 400 of 659 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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