Civic Intelligence

Hudson Manor Senior Citizens

EIN 22-2168257 • 501(c)3 • Freehold, NJ

Profile

To provide low and moderate income housing as well as assistance under the Federal Section 8 subsidy program.

40 Hudson StreetFreehold, NJ 07726

n a

Siviq Scores

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

Liabilities / Assets

20th percentile

0.02x

Higher debt load relative to assets than 20% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

25th percentile

0.07x

Higher debt load relative to revenue than 25% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

82nd percentile

32%

Higher net margin than 82% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

63rd percentile

9.2%

Faster asset growth than 63% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

76th percentile

24%

Faster revenue growth than 76% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$14,573,804

Up $1,227,961 (+9.2%) from 2023

Liabilities

Up

$265,013

Up $21,995 (+9.1%) from 2023

Net Assets

Up

$14,308,791

Up $1,205,966 (+9.2%) from 2023

Revenue

Up

$3,672,267

Up $721,984 (+24%) from 2023

Expenses

Down

$2,511,491

Down $30,582 (-1.2%) from 2023

Net Income

Up

$1,160,776

Up $752,566 (+184%) from 2023

Trend Graphs

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $8,685,567Liabilities 2011: $114,338Net Assets 2011: $8,571,2292011Assets 2012: $9,033,510Liabilities 2012: $115,058Net Assets 2012: $8,918,4522012Assets 2013: $9,308,521Liabilities 2013: $169,105Net Assets 2013: $9,139,4162013Assets 2014: $9,495,423Liabilities 2014: $111,304Net Assets 2014: $9,384,1192014Assets 2015: $9,842,298Liabilities 2015: $130,998Net Assets 2015: $9,711,3002015Assets 2016: $10,186,974Liabilities 2016: $148,056Net Assets 2016: $10,038,9182016Assets 2017: $10,506,483Liabilities 2017: $136,258Net Assets 2017: $10,370,2252017Assets 2018: $10,799,308Liabilities 2018: $153,985Net Assets 2018: $10,645,3232018Assets 2019: $11,422,112Liabilities 2019: $188,119Net Assets 2019: $11,233,9932019Assets 2020: $12,058,721Liabilities 2020: $239,892Net Assets 2020: $11,818,8292020Assets 2021: $12,426,652Liabilities 2021: $232,690Net Assets 2021: $12,193,9622021Assets 2022: $12,661,109Liabilities 2022: $397,412Net Assets 2022: $12,263,6972022Assets 2023: $13,345,843Liabilities 2023: $243,018Net Assets 2023: $13,102,8252023Assets 2024: $14,573,804Liabilities 2024: $265,013Net Assets 2024: $14,308,7912024

Highlighted filing

2024

Assets$14,573,804
Liabilities$265,013
Net Assets$14,308,791

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2011: $2,273,432Expenses 2011: $1,742,863Net Income 2011: $530,5692011Revenue 2012: $2,286,534Expenses 2012: $1,939,311Net Income 2012: $347,2232012Revenue 2013: $2,301,662Expenses 2013: $2,040,087Net Income 2013: $261,5752013Revenue 2014: $2,362,363Expenses 2014: $2,125,904Net Income 2014: $236,4592014Revenue 2015: $2,351,799Expenses 2015: $2,012,845Net Income 2015: $338,9542015Revenue 2016: $2,354,634Expenses 2016: $2,016,078Net Income 2016: $338,5562016Revenue 2017: $2,382,092Expenses 2017: $2,043,752Net Income 2017: $338,3402017Revenue 2018: $2,408,575Expenses 2018: $2,083,644Net Income 2018: $324,9312018Revenue 2019: $2,627,194Expenses 2019: $2,139,526Net Income 2019: $487,6682019Revenue 2020: $2,767,283Expenses 2020: $2,238,011Net Income 2020: $529,2722020Revenue 2021: $2,716,880Expenses 2021: $2,276,323Net Income 2021: $440,5572021Revenue 2022: $2,738,689Expenses 2022: $2,602,295Net Income 2022: $136,3942022Revenue 2023: $2,950,283Expenses 2023: $2,542,073Net Income 2023: $408,2102023Revenue 2024: $3,672,267Expenses 2024: $2,511,491Net Income 2024: $1,160,7762024

Highlighted filing

2024

Revenue$3,672,267
Expenses$2,511,491
Net Income$1,160,776

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.6$0.27$14.3$3.67$2.51$1.16
2023Summary only. Only limited summary data is available for this year.$13.3$0.24$13.1$2.95$2.54$0.41
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$0.40$12.3$2.74$2.60$0.14
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$0.23$12.2$2.72$2.28$0.44
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$0.24$11.8$2.77$2.24$0.53
2019Summary only. Only limited summary data is available for this year.$11.4$0.19$11.2$2.63$2.14$0.49
2018Summary only. Only limited summary data is available for this year.$10.8$0.15$10.6$2.41$2.08$0.32
2017Summary only. Only limited summary data is available for this year.$10.5$0.14$10.4$2.38$2.04$0.34
2016Summary only. Only limited summary data is available for this year.$10.2$0.15$10.0$2.35$2.02$0.34
2015Summary only. Only limited summary data is available for this year.$9.84$0.13$9.71$2.35$2.01$0.34
2014Summary only. Only limited summary data is available for this year.$9.50$0.11$9.38$2.36$2.13$0.24
2013Summary only. Only limited summary data is available for this year.$9.31$0.17$9.14$2.30$2.04$0.26
2012Summary only. Only limited summary data is available for this year.$9.03$0.12$8.92$2.29$1.94$0.35
2011Summary only. Only limited summary data is available for this year.$8.69$0.11$8.57$2.27$1.74$0.53
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
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$2,807,739
Mission and Program Overview

Mission

To provide low and moderate income housing , as well as assistance under the federal section 8 subsidy program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,752,554$3,612,627▼ $139,927
Investments in Publicly Traded Securities-$2,690,798-
Savings and Temporary Cash Investments$2,773,192$805,425▼ $1,967,767
Cash and Non-Interest-Bearing Accounts$875,962$402,522▼ $473,440
Prepaid Expenses and Deferred Charges$80,166$88,502▲ $8,336
Accounts Receivable$11,093$46,880▲ $35,787
Inventories for Sale or Use$987$523▼ $464
Total Assets$12,426,652$12,661,109▲ $234,457
Other Assets Total$4,932,698$5,013,832▲ $81,134
Liabilities
Other Liabilities$63,586$283,058▲ $219,472
Accounts Payable and Accrued Expenses$169,104$114,354▼ $54,750
Total Liabilities$232,690$397,412▲ $164,722
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,193,962$7,268,860▼ $4,925,102
Net Assets With Donor Restrictions-$4,994,837-
Total Net Assets Fund Balance$12,193,962$12,263,697▲ $69,735
Total Liabilities and Net Assets / Fund Balance$12,426,652$12,661,109▲ $234,457

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,612,627$12,267,270-
Other Assets Org$68,995--
Compensation and Service Providers

Board Members and Trustees

NameTitle
James Nolan HigginsPresident
Jane KayeDirector
Sharon ShutzerDirector
Roger KaneSecretary
Edward DaleyTreasurer
Kevin FreemanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,565,954
Investment Income
$166,949
Other Revenue
$5,786
Change in Net Assets
$136,394

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,738,689
Revenue Not Reported on Form 990
$69,050
Total Revenue per Audited Statements
$2,807,739
Total Revenue per Form 990
$2,738,689
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,084,857
Salaries, Compensation, and Employee Benefits$517,438
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$916,142--$916,142
Depreciation Depletion$541,287--$541,287
Other Salaries and Wages$162,314$205,571-$367,885
Other Employee Benefits$56,975$59,300-$116,275
Fees for Services Management-$115,974-$115,974
Insurance$109,082--$109,082
Office Expenses-$40,308-$40,308
Payroll Taxes$16,306$16,972-$33,278
Fees for Services Accounting-$29,300-$29,300
Fees for Services Legal$12,733--$12,733
Fees for Services Other$3,064$4,750-$7,814
Other Expenses$1,755--$1,755
Total Functional Expenses$2,130,120$472,175$0$2,602,295

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,814,555
Expenses per Audited Statements$2,602,295
Total Expenses per Form 990$2,602,295
Expenses Not Reported on Form 990$212,260
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
Reserve Funds$214,063
Tenant Security Deposits$68,995
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Form 990 reviewed by management comapny prior to filing on behalf of board of directors.

Form 990, Page 6, Part VI, Line 12C

Board oversight and monitoring

Form 990, Page 6, Part VI, Line 15A

The organization hires a rental management company which acts as the chief executive officer reporting directly to the board of directors. In the state of new jersey, the compensation guidelines are established by new jersey housing & mortgage finance agency. The board of directors approve the compensation within the state limits. The board of directors also reviews and approves the salaries and related increases for office personnel.

Form 990, Page 6, Part VI, Line 15B

The organization hires a management company which acts as the chief executive officer reporting directly to the board of directors. The compensation guidelines are established by new jersey housing & mortgage finance agency. The board of directors approve the compensation within the njhmfa limits. The board of directors also reviews and approves the salaries and related increases for office personnel.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Senior Citizens Housing Corporation
EIN
22-2168257
Phone
7327414880
Address
40 HUDSON STREET, FREEHOLD, NJ 07726

Signing Officer

Name
James Nolan Higgins
Title
President
Phone
7327314880
Signed
2023-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Nolan Higgins
Formed
1975
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Cowan Gunteski & Co Pa
Address
730 HOPE ROAD, TINTON FALLS, NJ 07724
Preparer
Carol Egan
Phone
7326764100
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Increase in r&r reserve 76,551

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The organization holds security deposits in escrow for each tenant.

Schedule D, Page 3, Part X

The corporation qualifies as a tax-exempt organization under section 501 (c)(3) of the internal revenue code and, therefore, no provision for federal or state income taxes has been recorded. The corporation's tax returns are generally subject to examination by the internal revenue service for a period of three years from the date they are to be filed. The corporation follows fasb accounting standards codification, which provides guidance on accounting for uncertainty in income taxes recognized in an corporation's financial statements. The guidance prescribes a recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of december 31, 2022, the corporation had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The corporation's policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense in the financial statements. No interest and penalties were recorded during the years ended december 31, 2022.

Schedule D, Page 4, Part XI, Line 2D

Store expemses netted with revenue 69,050

Schedule D, Page 4, Part XII, Line 2D

Store expenses netted with revenue 69,050 unrealized loss on investments 143,210

Raw XML AppendixShowing 400 of 414 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS SECURITY DEPOSITS IN ESCROW FOR EACH TENANT.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN RECORDED. THE CORPORATION'S TAX RETURNS ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE TO BE FILED. THE CORPORATION FOLLOWS FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN CORPORATION'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2022, THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CORPORATION'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE FINANCIAL STATEMENTS. NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEARS ENDED DECEMBER 31, 2022.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2STORE EXPEMSES NETTED WITH REVENUE 69,050
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3STORE EXPENSES NETTED WITH REVENUE 69,050 UNREALIZED LOSS ON INVESTMENTS 143,210
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 REVIEWED BY MANAGEMENT COMAPNY PRIOR TO FILING ON BEHALF OF BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OVERSIGHT AND MONITORING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HIRES A RENTAL MANAGEMENT COMPANY WHICH ACTS AS THE CHIEF EXECUTIVE OFFICER REPORTING DIRECTLY TO THE BOARD OF DIRECTORS. IN THE STATE OF NEW JERSEY, THE COMPENSATION GUIDELINES ARE ESTABLISHED BY NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY. THE BOARD OF DIRECTORS APPROVE THE COMPENSATION WITHIN THE STATE LIMITS. THE BOARD OF DIRECTORS ALSO REVIEWS AND APPROVES THE SALARIES AND RELATED INCREASES FOR OFFICE PERSONNEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HIRES A MANAGEMENT COMPANY WHICH ACTS AS THE CHIEF EXECUTIVE OFFICER REPORTING DIRECTLY TO THE BOARD OF DIRECTORS. THE COMPENSATION GUIDELINES ARE ESTABLISHED BY NEW JERSEY HOUSING & MORTGAGE FINANCE AGENCY. THE BOARD OF DIRECTORS APPROVE THE COMPENSATION WITHIN THE NJHMFA LIMITS. THE BOARD OF DIRECTORS ALSO REVIEWS AND APPROVES THE SALARIES AND RELATED INCREASES FOR OFFICE PERSONNEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INCREASE IN R&R RESERVE 76,551
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0C/O SENIOR CITIZENS HOUSING CORP
IRS990/USAddress/AddressLine2Txt0OF THE BOROUGH OF FREEHOLD
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES NOLAN HIGGINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07327314880
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SENIOR CITIZENS HOUSING CORPORATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF THE BOROUGH OF FREEHOLD
ReturnHeader/Filer/BusinessNameControlTxt0SENI
ReturnHeader/Filer/EIN0222168257
ReturnHeader/Filer/PhoneNum07327414880
ReturnHeader/Filer/USAddress/AddressLine1Txt040 HUDSON STREET
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COWAN GUNTESKI & CO PA

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