Civic Intelligence

Penwal Affordable Housing Corporation

EIN 22-3124101 • 501(c)3 • Ridgewood, NJ

Profile

LOW INCOME HOUSING

240 Paramus RoadRidgewood, NJ 07450-2913

n/A

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

8th percentile

0.02x

Higher debt load relative to revenue than 8% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2023

Net Margin

86th percentile

69%

Higher net margin than 86% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

NTEE L • $10M-$25M nonprofits • Source year 2023

Asset Growth

55th percentile

2.2%

Faster asset growth than 55% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

49th percentile

4.3%

Faster revenue growth than 49% of similar nonprofits.

NTEE L • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$17,616,827

Up $382,457 (+2.2%) from 2022

Liabilities

Up

$17,001

Up $1 (+0.0%) from 2022

Net Assets

Up

$17,599,826

Up $382,456 (+2.2%) from 2022

Operations
Liabilities / Revenue8th percentileNet Margin86th percentile

Revenue

Up

$1,005,355

Up $41,357 (+4.3%) from 2022

Expenses

Up

$307,757

Up $307,448 (+99498%) from 2022

Net Income

Down

$697,598

Down $266,091 (-28%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth55th percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $15,907,204Liabilities 2011: $4,000Net Assets 2011: $15,903,2042011Assets 2012: $16,798,889Liabilities 2012: $4,000Net Assets 2012: $16,794,8892012Assets 2013: $17,010,037Liabilities 2013: $4,000Net Assets 2013: $17,006,0372013Assets 2014: $12,211,205Liabilities 2014: $4,000Net Assets 2014: $12,207,2052014Assets 2015: $12,763,916Liabilities 2015: $32,000Net Assets 2015: $12,731,9162015Assets 2016: $13,321,987Liabilities 2016: $20,000Net Assets 2016: $13,301,9872016Assets 2017: $13,909,488Liabilities 2017: $8,000Net Assets 2017: $13,901,4882017Assets 2018: $14,804,847Liabilities 2018: $153,600Net Assets 2018: $14,651,2472018Assets 2019: $15,541,487Liabilities 2019: $156,000Net Assets 2019: $15,385,4872019Assets 2020: $16,305,348Liabilities 2020: $166,407Net Assets 2020: $16,138,9412020Assets 2021: $16,167,400Liabilities 2021: $41,248Net Assets 2021: $16,126,1522021Assets 2022: $17,234,370Liabilities 2022: $17,000Net Assets 2022: $17,217,3702022Assets 2023: $17,616,827Liabilities 2023: $17,001Net Assets 2023: $17,599,8262023

Highlighted filing

2023

Assets$17,616,827
Liabilities$17,001
Net Assets$17,599,826
Open 2023 Filing

Operations Trend

Revenue Growth49th percentile

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

$10M$5.0M$0-$5.0MRevenue 2011: $932,056Expenses 2011: $129,901Net Income 2011: $802,1552011Revenue 2012: $973,698Expenses 2012: $17,263Net Income 2012: $956,4352012Revenue 2013: $999,499Expenses 2013: $723,601Net Income 2013: $275,8982013Revenue 2014: $580,120Expenses 2014: $5,378,952Net Income 2014: -$4,798,8322014Revenue 2015: $612,493Expenses 2015: $87,782Net Income 2015: $524,7112015Revenue 2016: $649,131Expenses 2016: $79,060Net Income 2016: $570,0712016Revenue 2017: $679,849Expenses 2017: $80,348Net Income 2017: $599,5012017Revenue 2018: $756,608Expenses 2018: $6,849Net Income 2018: $749,7592018Revenue 2019: $753,285Expenses 2019: $19,045Net Income 2019: $734,2402019Revenue 2020: $788,575Expenses 2020: $35,121Net Income 2020: $753,4542020Revenue 2021: $916,325Expenses 2021: $633,414Net Income 2021: $282,9112021Revenue 2022: $963,998Expenses 2022: $309Net Income 2022: $963,6892022Revenue 2023: $1,005,355Expenses 2023: $307,757Net Income 2023: $697,5982023

Highlighted filing

2023

Revenue$1,005,355
Expenses$307,757
Net Income$697,598
Open 2023 Filing

Filings

Most recent year

2023 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$17,616,827
Liabilities
$17,001
Net assets
$17,599,826
Revenue
$1,005,355
Expenses
$307,757
Net income
$697,598
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.6$0.02$17.6$1.01$0.31$0.70
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.2$0.02$17.2$0.96$0.00$0.96
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$0.04$16.1$0.92$0.63$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.3$0.17$16.1$0.79$0.04$0.75
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.5$0.16$15.4$0.75$0.02$0.73
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.8$0.15$14.7$0.76$0.01$0.75
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.9$0.01$13.9$0.68$0.08$0.60
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.3$0.02$13.3$0.65$0.08$0.57
2015Detailed filing. Detailed filing data is available for this year.$12.8$0.03$12.7$0.61$0.09$0.52
2014Detailed filing. Detailed filing data is available for this year.$12.2$0.00$12.2$0.58$5.38$4.80
2013Detailed filing. Detailed filing data is available for this year.$17.0$0.00$17.0$1.00$0.72$0.28
2012Summary only. Only limited summary data is available for this year.$16.8$0.00$16.8$0.97$0.02$0.96
2011Summary only. Only limited summary data is available for this year.$15.9$0.00$15.9$0.93$0.13$0.80
Latest Detailed Filing

The latest 2023 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 4, 2022
Return Version
2021v4.0
Gross Receipts
$916,325
Mission and Program Overview

Mission

LOW INCOME HOUSING

The financing and monitoring of qualified low income housing projects

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$14,763,640$14,865,574▲ $101,934
Prepaid Expenses and Deferred Charges$876,287$1,122,787▲ $246,500
Cash and Non-Interest-Bearing Accounts$291,611$106,480▼ $185,131
Accounts Receivable$49,839$44,288▼ $5,551
Other Notes and Loans Receivable, Net$28,271$28,271→ $0
Total Assets$16,009,648$16,167,400▲ $157,752
Liabilities
Other Liabilities$160,407--
Accounts Payable and Accrued Expenses$6,000$41,248▲ $35,248
Total Liabilities$166,407$41,248▼ $125,159
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,643,241$14,926,152▲ $282,911
Net Assets With Donor Restrictions$1,200,000$1,200,000→ $0
Total Net Assets Fund Balance$15,843,241$16,126,152▲ $282,911
Total Liabilities and Net Assets / Fund Balance$16,009,648$16,167,400▲ $157,752

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$606,267--
Equipment-$23,559-
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
James WalshTrustee
William ColthartTrustee
Laury PensaManager
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$916,325
Change in Net Assets
$282,911

Audited Revenue Reconciliation

Revenue per Audited Statements
$916,325
Total Revenue per Audited Statements
$916,325
Total Revenue per Form 990
$916,325
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$633,414
Total Fundraising Expense$5,511
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$442,191-$442,191
Other Expenses$90,000$90,000-$180,000
Fees for Services Accounting-$5,511$5,511$11,022
Office Expenses-$201-$201
Total Functional Expenses$90,000$537,903$5,511$633,414

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$633,414
Total Expenses per Audited Statements$633,414
Total Expenses per Form 990$633,414
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Penwal Affordable Housing
EIN
22-3124101
Phone
2018364500
Address
240 PARAMUS ROAD, RIDGEWOOD, NJ 07450-2913

Signing Officer

Name
Laury Pensa
Title
Manager
Phone
2018364500
Signed
2022-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laury Pensa
Formed
1991
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
William Colthart CPA LLC
Address
240 PARAMUS ROAD STE 1, RIDGEWOOD, NJ 07450
Preparer
William Colthart
Phone
2015810050
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Implementation and developed low income housing projects in dumont, garfield, jersey city, paramus and dover new jersey”

Form 990, Part IX, Line 11G

“BAD DEBTS 0 442,191 0”

Raw XML Appendix300 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.

Path#Value
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IRS990/ActivityOrMissionDesc0THE FINANCING AND MONITORING OF QUALIFIED LOW INCOME HOUSING PROJECTS
IRS990/BooksInCareOfDetail/PersonNm0LAURY PENSA
IRS990/BooksInCareOfDetail/PhoneNum02018364500
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0240 PARAMUS ROAD
IRS990/BooksInCareOfDetail/USAddress/CityNm0RIDGEWOOD
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IRS990/BooksInCareOfDetail/USAddress/ZIPCd0074502913
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IRS990/CashNonInterestBearingGrp/BOYAmt0291611
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IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
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IRS990/ConsolidatedAuditFinclStmtInd0false
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IRS990/CYBenefitsPaidToMembersAmt00
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IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0916325
IRS990/DecisionsSubjectToApprovaInd0false
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IRS990/DescribedInSection501c3Ind0true
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IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt00
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IRS990/FeesForServicesAccountingGrp/FundraisingAmt05511
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt05511
IRS990/FeesForServicesAccountingGrp/TotalAmt011022
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt0442191
IRS990/FeesForServicesOtherGrp/TotalAmt0442191
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt115.00
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IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/PersonNm2JAMES WALSH
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01991
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0916325
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsProgramRelatedGrp/BOYAmt014763640
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IRS990/IRPDocumentCnt03
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IRS990/LandBldgEquipCostOrOtherBssAmt023559
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE FINANCING AND MONITORING OF QUALIFIED LOW INCOME HOUSING PROJECTS
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt015843241
IRS990/NetAssetsOrFundBalancesEOYAmt016126152
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt014643241
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt014926152
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0201
IRS990/OfficeExpensesGrp/TotalAmt0201
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0OPERATIONS FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt090000
IRS990/OtherExpensesGrp/ProgramServicesAmt090000
IRS990/OtherExpensesGrp/TotalAmt0180000
IRS990/OtherLiabilitiesGrp/BOYAmt0160407
IRS990/OtherRevenueMiscGrp/Desc0MORTGAGE INTEREST
IRS990/OtherRevenueMiscGrp/Desc1MANAGEMENT FEES
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IRS990/PartialLiquidationInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0876287
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IRS990/PrincipalOfficerNm0LAURY PENSA
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt090000
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt035121
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0916325
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0753285
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0GARFIELD SENIOR HOUSING LP NP/INT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1PARAMUS AFFORDABLE DEVELOPMENT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2HEIGHTS URBAN RENEWAL LP NP/INT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3DUMONT SENIOR HOUSING LP NP/INT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IMPLEMENTATION AND DEVELOPED LOW INCOME HOUSING PROJECTS IN DUMONT, GARFIELD, JERSEY CITY, PARAMUS AND DOVER NEW JERSEY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BAD DEBTS 0 442,191 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
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IRS990/TypeOfOrganizationCorpInd0X
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LAURY PENSA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum02018364500
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PENWAL AFFORDABLE HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PENW
ReturnHeader/Filer/EIN0223124101
ReturnHeader/Filer/PhoneNum02018364500
ReturnHeader/Filer/USAddress/AddressLine1Txt0240 PARAMUS ROAD
ReturnHeader/Filer/USAddress/CityNm0RIDGEWOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd0074502913
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0814528089
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WILLIAM COLTHART CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0240 PARAMUS ROAD STE 1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RIDGEWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007450
ReturnHeader/PreparerPersonGrp/PhoneNum02015810050
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM COLTHART
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-11-14T09:05:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LAURY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PENSA
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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