Civic Intelligence

Freeman Apartments Inc.

990 • Fiscal year 2011 • EIN 31-1510338

Jan 01, 2011 to Dec 31, 2011 • Filed on Oct 15, 2012

Organization ProfileN/A
41 Hillside Avenue07081
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.02x

Higher debt load relative to assets than 14% of similar nonprofits.

2011 filings • NTEE L • $1M-$5M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

43rd percentile

-2.8%

Faster asset growth than 43% of similar nonprofits.

2011 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$1,423,564

Down $40,476 (-2.8%) from 2010

Net Assets

Down

$1,395,508

Down $41,382 (-2.9%) from 2010

Liabilities

Up

$28,056

Up $906 (+3.3%) from 2010

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$196,350

Up $16,841 (+9.4%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2010: $1,464,040Liabilities 2010: $27,150Net Assets 2010: $1,436,8902010Assets 2011: $1,423,564Liabilities 2011: $28,056Net Assets 2011: $1,395,5082011Assets 2012: $1,393,124Liabilities 2012: $29,176Net Assets 2012: $1,363,9482012Assets 2013: $1,347,791Liabilities 2013: $26,208Net Assets 2013: $1,321,5832013Assets 2014: $1,309,907Liabilities 2014: $43,172Net Assets 2014: $1,266,7352014Assets 2015: $1,272,813Liabilities 2015: $44,736Net Assets 2015: $1,228,0772015Assets 2016: $1,254,322Liabilities 2016: $23,527Net Assets 2016: $1,230,7952016Assets 2017: $1,256,862Liabilities 2017: $65,081Net Assets 2017: $1,191,7812017Assets 2018: $1,192,700Liabilities 2018: $58,311Net Assets 2018: $1,134,3892018Assets 2019: $1,243,302Liabilities 2019: $112,288Net Assets 2019: $1,131,0142019Assets 2020: $1,119,308Liabilities 2020: $52,370Net Assets 2020: $1,066,9382020Assets 2021: $1,077,310Liabilities 2021: $51,184Net Assets 2021: $1,026,1262021Assets 2022: $1,021,787Liabilities 2022: $62,554Net Assets 2022: $959,2332022Assets 2023: $960,191Liabilities 2023: $77,549Net Assets 2023: $882,6422023Assets 2024: $867,630Liabilities 2024: $62,859Net Assets 2024: $804,7712024

Highlighted filing

2011

Assets$1,423,564
Liabilities$28,056
Net Assets$1,395,508
Open 2011 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KExpenses 2010: $179,5092010Expenses 2011: $196,3502011Expenses 2012: $191,1312012Revenue 2013: $162,801Expenses 2013: $205,166Net Income 2013: -$42,3652013Revenue 2014: $160,663Expenses 2014: $215,511Net Income 2014: -$54,8482014Revenue 2015: $164,392Expenses 2015: $203,050Net Income 2015: -$38,6582015Revenue 2016: $188,654Expenses 2016: $185,936Net Income 2016: $2,7182016Revenue 2017: $180,670Expenses 2017: $219,684Net Income 2017: -$39,0142017Revenue 2018: $171,213Expenses 2018: $224,792Net Income 2018: -$53,5792018Revenue 2019: $228,735Expenses 2019: $230,807Net Income 2019: -$2,0722019Revenue 2020: $187,141Expenses 2020: $253,778Net Income 2020: -$66,6372020Revenue 2021: $186,521Expenses 2021: $226,450Net Income 2021: -$39,9292021Revenue 2022: $200,648Expenses 2022: $266,156Net Income 2022: -$65,5082022Revenue 2023: $191,246Expenses 2023: $267,837Net Income 2023: -$76,5912023Revenue 2024: $208,973Expenses 2024: $286,844Net Income 2024: -$77,8712024

Highlighted filing

2011

Revenue-
Expenses$196,350
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Oct 15, 2012
Return Version
2011v1.2
Gross Receipts
$154,968
Mission and Program Overview

Mission

To provide housing for low income disabled individuals.

Filing and Contact Details

Filer

EIN
31-1510338
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE ORGANIZATION MAINTAINS SECURITY DEPOSITS IN TRUST IN THE NAME OF EACH TENANT.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1THE PROJECT IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES, UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PROJECT FOLLOWS STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE PROJECT'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE PROJECT'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING YEARS 2011 AND 2010. THE TAX YEARS SUBJECT TO AUDIT BY FEDERAL AND STATE JURISDICTIONS ARE THE YEARS 2008 AND FORWARD. AT DECEMBER 31, 2011 AND 2010, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation2ADJUSTMENT IS DUE TO THE RENT FREE UNIT FOR THE SUPERINTENDENT OF THE BUILDING. FOR FINANCIAL STATEMENT PURPOSES THIS AMOUNT IS GROSSED UP AND INCLUDED IN REVENUE AND EXPENSES.
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IRS990ScheduleO/GeneralExplanation/Explanation0THE ORGANIZATION CONTRACTS A 3RD PARTY MANAGEMENT COMPANY TO PERFORM MANAGEMENT FUNCTIONS FOR THE HOUSING UNITS.
IRS990ScheduleO/GeneralExplanation/Explanation1A COPY OF THE FORM 990 WILL BE GIVEN TO ALL TRUSTEES PRIOR TO FILLING FOR REVIEW. A VOTE WILL BE TAKEN FOR THE APPROVAL OF THE FORM.
IRS990ScheduleO/GeneralExplanation/Explanation2THE FEES PAID TO THE MANAGEMENT COMPANY ARE DETERMINED AND REGULATED BY HUD. THE ORGANIZATION DOES NOT COMPENSATE OFFICERS AND DOES NOT HAVE KEY EMPLOYEES.
IRS990ScheduleO/GeneralExplanation/Explanation3FREEMAN APARTMENTS IS GOVERNED BY THE REGULATIONS AND REQUIREMENTS OF THE US DEPT OF HUD. FREEMAN APARTMENTS HAS A CONTRACTUAL RELATIONSHIP WITH THE HUD THROUGH ITS SECTION 811 PROGRAM. THE GOVERNING DOCUMENTS ALONG WITH ANY AMENDMENTS ARE REVIEWED BY HUD. EACH TRUSTEE WAS REQUIRED TO FILE A CONFLICT OF INTEREST DISCLOSURE STATEMENT AT THE TIME OF APPLICATION. IN ADDITION THE AUDITED FINANCIAL STATEMENTS ARE SUMITTED TO THE REAC SYSTEM ANNUALLY.
IRS990ScheduleO/GeneralExplanation/Explanation4NO CHANGE FROM PRIOR YEAR.
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990 PART XII, LINE 2C
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0NJ
IRS990/StatesWhereCopyOfReturnIsFiled0NJ
IRS990/SubjectToProxyTax00
IRS990/TaxableDistributions00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine10264 BELLEVILLE AVE
IRS990/TheBooksAreInCareOf/AddressUS/City0BLOOMFIELD
IRS990/TheBooksAreInCareOf/AddressUS/State0NJ
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode007003
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10RP MARZULLI CO INC
IRS990/TheBooksAreInCareOf/TelephoneNumber09737432300
IRS990/TotalAssets/BOY01464040
IRS990/TotalAssetsBOY01464040
IRS990/TotalAssets/EOY01423564
IRS990/TotalAssetsEOY01423564
IRS990/TotalCompGT150K00
IRS990/TotalExpensesCurrentYear0196350
IRS990/TotalExpensesPriorYear0179509
IRS990/TotalFunctionalExpenses/Fundraising00
IRS990/TotalFunctionalExpenses/ManagementAndGeneral030691
IRS990/TotalFunctionalExpenses/ProgramServices0165659
IRS990/TotalFunctionalExpenses/Total0196350
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI00
IRS990/TotalLiabilities/BOY027150
IRS990/TotalLiabilitiesBOY027150
IRS990/TotalLiabilities/EOY028056
IRS990/TotalLiabilitiesEOY028056
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IRS990/TotalLiabNetAssetsFundBalances/EOY01423564
IRS990/TotalNbrEmployees02
IRS990/TotalNbrVolunteers011
IRS990/TotalNetAssetsFundBalances/BOY01436890

Document Assets

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Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,423,564
Liabilities
$28,056
Net assets
$1,395,508
Revenue
-
Expenses
$196,350
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.87$0.06$0.80$0.21$0.29$0.08
2023Detailed filing. Detailed filing data is available for this year.$0.96$0.08$0.88$0.19$0.27$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.02$0.06$0.96$0.20$0.27$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.08$0.05$1.03$0.19$0.23$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.12$0.05$1.07$0.19$0.25$0.07
2019Detailed filing. Detailed filing data is available for this year.$1.24$0.11$1.13$0.23$0.23$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.19$0.06$1.13$0.17$0.22$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.26$0.07$1.19$0.18$0.22$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.25$0.02$1.23$0.19$0.19$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.27$0.04$1.23$0.16$0.20$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.31$0.04$1.27$0.16$0.22$0.05
2013Detailed filing. Detailed filing data is available for this year.$1.35$0.03$1.32$0.16$0.21$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.03$1.36$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$0.03$1.40$0.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$0.03$1.44$0.18