Civic Intelligence

Highland Park Affordable Housing Corp

EIN 47-4244564 • 501(c)3 • Highland Park, NJ

Profile

To provide affordable housing in the borough of highland park and expand affordable housing opportunities

242 South Sixth AvenueHighland Park, NJ 08904

n/A

Siviq Scores

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

Liabilities / Assets

35th percentile

0.27x

Higher debt load relative to assets than 35% of similar nonprofits.

NTEE L • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

65th percentile

4.75x

Higher debt load relative to revenue than 65% of similar nonprofits.

NTEE L • $5M-$10M nonprofits • Source year 2025

Net Margin

35th percentile

-9.6%

Higher net margin than 35% of similar nonprofits.

NTEE L • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

NTEE L • $5M-$10M nonprofits • Source year 2025

Asset Growth

48th percentile

-0.3%

Faster asset growth than 48% of similar nonprofits.

NTEE L • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

42nd percentile

2.6%

Faster revenue growth than 42% of similar nonprofits.

NTEE L • $5M-$10M nonprofits • Annualized from 2024 to 2025

Assets

Down

$5,812,798

Down $85,108 (-1.4%) from 2022

Liabilities

Down

$1,578,962

Down $407,474 (-21%) from 2022

Net Assets

Up

$4,233,836

Up $322,366 (+8.2%) from 2022

Revenue

Up

$332,612

Up $26,729 (+8.7%) from 2022

Expenses

Up

$364,505

Up $2,116 (+0.6%) from 2022

Net Income

Up

-$31,893

Up $24,613 (+44%) from 2022

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2019: $906,810Liabilities 2019: $728,546Net Assets 2019: $178,2642019Assets 2020: $1,504,538Liabilities 2020: $2,013,086Net Assets 2020: -$508,5482020Assets 2021: $5,690,713Liabilities 2021: $1,759,885Net Assets 2021: $3,930,8282021Assets 2022: $5,897,906Liabilities 2022: $1,986,436Net Assets 2022: $3,911,4702022Assets 2025: $5,812,798Liabilities 2025: $1,578,962Net Assets 2025: $4,233,8362025

Highlighted filing

2025

Assets$5,812,798
Liabilities$1,578,962
Net Assets$4,233,836

Operations Trend

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

$400K$200K$0-$200KRevenue 2019: $144,398Expenses 2019: $268,877Net Income 2019: -$124,4792019Revenue 2020: $256,668Expenses 2020: $267,673Net Income 2020: -$11,0052020Revenue 2021: $306,771Expenses 2021: $285,359Net Income 2021: $21,4122021Revenue 2022: $305,883Expenses 2022: $362,389Net Income 2022: -$56,5062022Revenue 2025: $332,612Expenses 2025: $364,505Net Income 2025: -$31,8932025

Highlighted filing

2025

Revenue$332,612
Expenses$364,505
Net Income-$31,893

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Jun 15, 2025
Return Version
2024v5.1
Gross Receipts
$332,612
Mission and Program Overview

Mission

To expand the affordable housing in the Borough of Highland Park

To provide affordable housing in the borough of highland park, nj

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,589,283$4,419,376▼ $169,907
Cash and Non-Interest-Bearing Accounts$725,824$724,045▼ $1,779
Land, Buildings, and Equipment, Net$333,389$254,093▼ $79,296
Savings and Temporary Cash Investments-$246,786-
Prepaid Expenses and Deferred Charges$5,212$3,094▼ $2,118
Accounts Receivable$1,460$41▼ $1,419
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$5,832,854$5,812,798▼ $20,056
Other Assets Total$177,686$165,363▼ $12,323
Liabilities
Other Liabilities$1,095,018$1,095,018→ $0
Mortgage Notes Payable Secured by Investment Property$831,386$407,264▼ $424,122
Accounts Payable and Accrued Expenses$40,767$58,369▲ $17,602
Escrow Account Liability$12,341$16,268▲ $3,927
Deferred Revenue$403$2,043▲ $1,640
Total Liabilities$1,979,915$1,578,962▼ $400,953
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,852,939$4,233,836▲ $380,897
Total Net Assets Fund Balance$3,852,939$4,233,836▲ $380,897
Total Liabilities and Net Assets / Fund Balance$5,832,854$5,812,798▼ $20,056

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$235,987$1,040,186$1,276,173
Equipment-$118,636$118,636
Other Land Buildings-$63,444$63,444
Land$18,106-$18,106
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ronald WongPresident & CEO
Ruby HopeVice President
Matthew HershTrustee
Padraic MilletTrustee
William MalloyTrustee
William RainwaterTrustee
Deborah HurleyCOO
Jason RoweSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$321,904
Investment Income
$10,708
Other Revenue
$0
Change in Net Assets
$-31,893

Audited Revenue Reconciliation

Revenue per Audited Statements
$332,612
Total Revenue per Audited Statements
$332,612
Total Revenue per Form 990
$332,612
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$306,006
Salaries, Compensation, and Employee Benefits$58,499
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$79,296--$79,296
Fees for Services Management$38,040--$38,040
Other Salaries and Wages$31,481--$31,481
Interest$26,717--$26,717
Insurance$14,387--$14,387
Other Employee Benefits$13,358--$13,358
Fees for Services Accounting-$12,876-$12,876
Pension Plan Contributions$9,223--$9,223
All Other Expenses$6,604--$6,604
Fees for Services Other$1,481$4,700-$6,181
Fees for Services Legal-$4,746-$4,746
Payroll Taxes$4,437--$4,437
Other Expenses$10,775$2,565-$2,565
Total Functional Expenses$339,618$24,887$0$364,505

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$364,505
Total Expenses per Audited Statements$364,505
Total Expenses per Form 990$364,505
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Opeb$588,284
Deferred Inflows$462,581
Accrued Pension$44,153
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

Under an interlocal services agreement, the organization's day-to-day affairs are managed by the housing authority of the township edison. Deborah hurley, phm, serves as executive director of the housing authority of the township of edison, the highland park housing authority and the highland park affordable housing corporation

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

Form 990 is prepared by the organization's fee accountant who presents the return to the board of trustees at one of its monthly meetings, explains the information contained in the document and answers any questions posed by the trustees.

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

Trustees review and sign off annually on a conflict of interest statement

Form 990, Part VI, Section C, Line 19

The board holds open public meetings monthly. Documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Highland Park Affordable Housing Corp
EIN
47-4244564
Phone
7326342750
Address
242 SOUTH SIXTH AVENUE, HIGHLAND PARK, NJ 08904

Signing Officer

Name
Deborah Hurley
Title
Director
Signed
2025-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deborah Hurley
Formed
2015
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Polcari & Co CPAs
Address
2035 Hamburg Turnpike Unit H, Wayne, NJ 07470
Preparer
Anthony G Polcari
Phone
9738316969
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Accounting principles generally accepted in the united states of america provide accounting and disclosure guidance about positioins taken by an entity in its tax returns that might be uncertain. Generally accepted accounting principles prescribe a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. For the corporation, tax positions taken include the entity's status as a not-for-profit corporation and the approval and qualifications for this status. The corporation files an annual form 990 with the internal revenue service and its tax returns for the year 2021 is subject to examination by the tax authorities.

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IRS990/PensionPlanContributionsGrp/TotalAmt09223
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05212
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03094
IRS990/PrincipalOfficerNm0DEBORAH HURLEY
IRS990/PriorPeriodAdjustmentsAmt0412790
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0Gross Rents - Affordable
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0321904
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0321904
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt09544
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0338318
IRS990/PYProgramServiceRevenueAmt0314521
IRS990/PYRevenuesLessExpensesAmt0-61744
IRS990/PYSalariesCompEmpBnftPaidAmt047491
IRS990/PYTotalExpensesAmt0385809
IRS990/PYTotalRevenueAmt0324065
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-31893
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0332612
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0246786
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0321904
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0314521
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0306244
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0304075
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0296932
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01543676
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt010708
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt04204
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0588
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt02538
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt018038
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt010708
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt04204
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0588
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt02538
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt018038
IRS990ScheduleA/InvestmentIncomeCYPct00.01160
IRS990ScheduleA/InvestmentIncomePYPct00.00490
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98840
IRS990ScheduleA/PublicSupportPY509Pct00.99510
IRS990ScheduleA/PublicSupportTotal509Amt01543676
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0321904
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0314521
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0306244
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0304075
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0296932
IRS990ScheduleA/Total509Grp/TotalAmt01543676
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0332612
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0314521
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0310448
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0304663
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0299470
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01561714
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AdditionsDuringYearAmt018
IRS990ScheduleD/AgentTrusteeEtcInd0true
IRS990ScheduleD/BeginningBalanceAmt012323
IRS990ScheduleD/BuildingsGrp/BookValueAmt0235987
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01040186
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01276173
IRS990ScheduleD/EndingBalanceAmt012341
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0118636
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0118636
IRS990ScheduleD/ExpensesSubtotalAmt0364505
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/LandGrp/BookValueAmt018106
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt018106
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt063444
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt063444
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0588284
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt144153
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2462581
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED OPEB
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED PENSION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS
IRS990ScheduleD/RevenueSubtotalAmt0332612
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE ACCOUNTING AND DISCLOSURE GUIDANCE ABOUT POSITIOINS TAKEN BY AN ENTITY IN ITS TAX RETURNS THAT MIGHT BE UNCERTAIN. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PRESCRIBE A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. FOR THE CORPORATION, TAX POSITIONS TAKEN INCLUDE THE ENTITY'S STATUS AS A NOT-FOR-PROFIT CORPORATION AND THE APPROVAL AND QUALIFICATIONS FOR THIS STATUS. THE CORPORATION FILES AN ANNUAL FORM 990 WITH THE INTERNAL REVENUE SERVICE AND ITS TAX RETURNS FOR THE YEAR 2021 IS SUBJECT TO EXAMINATION BY THE TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0254093
IRS990ScheduleD/TotalExpensesPerForm990Amt0364505
IRS990ScheduleD/TotalLiabilityAmt01095018
IRS990ScheduleD/TotalRevenuePerForm990Amt0332612
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0332612
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0364505
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UNDER AN INTERLOCAL SERVICES AGREEMENT, THE ORGANIZATION'S DAY-TO-DAY AFFAIRS ARE MANAGED BY THE HOUSING AUTHORITY OF THE TOWNSHIP EDISON. DEBORAH HURLEY, PHM, SERVES AS EXECUTIVE DIRECTOR OF THE HOUSING AUTHORITY OF THE TOWNSHIP OF EDISON, THE HIGHLAND PARK HOUSING AUTHORITY AND THE HIGHLAND PARK AFFORDABLE HOUSING CORPORATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PREPARED BY THE ORGANIZATION'S FEE ACCOUNTANT WHO PRESENTS THE RETURN TO THE BOARD OF TRUSTEES AT ONE OF ITS MONTHLY MEETINGS, EXPLAINS THE INFORMATION CONTAINED IN THE DOCUMENT AND ANSWERS ANY QUESTIONS POSED BY THE TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TRUSTEES REVIEW AND SIGN OFF ANNUALLY ON A CONFLICT OF INTEREST STATEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD HOLDS OPEN PUBLIC MEETINGS MONTHLY. DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05832854
IRS990/TotalAssetsEOYAmt05812798
IRS990/TotalAssetsGrp/BOYAmt05832854
IRS990/TotalAssetsGrp/EOYAmt05812798
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00

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