Civic Intelligence

Foresight Affordable Housing Inc

EIN 52-1979028 • 501(c)3 • Egg Harbor Township, NJ

Profile

Foresight affordable housing, inc. Was created to provide quality affordable housing to low income individuals and families.

2900 Fire Road Suite 203Egg Harbor Township, NJ 08234

foresightinc.org

Siviq Scores

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

Liabilities / Assets

91st percentile

0.99x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

9.49x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

4th percentile

-56%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

17th percentile

-2.5%

Faster asset growth than 17% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

28%

Faster revenue growth than 82% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$243,613,545

Down $6,163,126 (-2.5%) from 2023

Liabilities

Up

$240,617,591

Up $7,958,798 (+3.4%) from 2023

Net Assets

Down

$2,995,954

Down $14,121,924 (-82%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin4th percentile

Revenue

Up

$25,355,509

Up $5,481,180 (+28%) from 2023

Expenses

Up

$39,515,197

Up $13,457,852 (+52%) from 2023

Net Income

Down

-$14,159,688

Down $7,976,672 (-129%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth17th percentile

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

$300M$200M$100M$0Assets 2011: $17,179,497Liabilities 2011: $11,768,646Net Assets 2011: $5,410,8512011Assets 2012: $17,969,041Liabilities 2012: $12,560,289Net Assets 2012: $5,408,7522012Assets 2013: $20,577,376Liabilities 2013: $15,015,745Net Assets 2013: $5,561,6312013Assets 2014: $27,430,033Liabilities 2014: $22,281,445Net Assets 2014: $5,148,5882014Assets 2015: $25,706,094Liabilities 2015: $9,966,173Net Assets 2015: $15,739,9212015Assets 2016: $30,461,846Liabilities 2016: $9,795,865Net Assets 2016: $20,665,9812016Assets 2017: $31,503,540Liabilities 2017: $9,607,723Net Assets 2017: $21,895,8172017Assets 2018: $32,057,702Liabilities 2018: $9,426,268Net Assets 2018: $22,631,4342018Assets 2019: $32,940,319Liabilities 2019: $10,021,443Net Assets 2019: $22,918,8762019Assets 2020: $32,311,251Liabilities 2020: $10,849,134Net Assets 2020: $21,462,1172020Assets 2021: $35,307,423Liabilities 2021: $9,732,877Net Assets 2021: $25,574,5462021Assets 2022: $39,444,822Liabilities 2022: $9,420,680Net Assets 2022: $30,024,1422022Assets 2023: $249,776,671Liabilities 2023: $232,658,793Net Assets 2023: $17,117,8782023Assets 2024: $243,613,545Liabilities 2024: $240,617,591Net Assets 2024: $2,995,9542024

Highlighted filing

2024

Assets$243,613,545
Liabilities$240,617,591
Net Assets$2,995,954
Open 2024 Filing

Operations Trend

Revenue Growth82nd percentile

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

$40M$20M$0-$20MRevenue 2011: $3,457,500Expenses 2011: $3,554,559Net Income 2011: -$97,0592011Expenses 2012: $3,479,4582012Expenses 2013: $3,644,0962013Revenue 2014: $3,040,822Expenses 2014: $3,109,124Net Income 2014: -$68,3022014Revenue 2015: $3,830,498Expenses 2015: $3,851,686Net Income 2015: -$21,1882015Revenue 2016: $3,808,196Expenses 2016: $3,966,291Net Income 2016: -$158,0952016Revenue 2017: $3,929,643Expenses 2017: $4,000,307Net Income 2017: -$70,6642017Revenue 2018: $4,667,470Expenses 2018: $4,235,157Net Income 2018: $432,3132018Revenue 2019: $4,358,951Expenses 2019: $4,571,509Net Income 2019: -$212,5582019Revenue 2020: $4,404,481Expenses 2020: $5,342,833Net Income 2020: -$938,3522020Revenue 2021: $10,804,387Expenses 2021: $6,078,776Net Income 2021: $4,725,6112021Revenue 2022: $3,700,566Expenses 2022: $4,001,529Net Income 2022: -$300,9632022Revenue 2023: $19,874,329Expenses 2023: $26,057,345Net Income 2023: -$6,183,0162023Revenue 2024: $25,355,509Expenses 2024: $39,515,197Net Income 2024: -$14,159,6882024

Highlighted filing

2024

Revenue$25,355,509
Expenses$39,515,197
Net Income-$14,159,688
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$243,613,545
Liabilities
$240,617,591
Net assets
$2,995,954
Revenue
$25,355,509
Expenses
$39,515,197
Net income
-$14,159,688
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$244$241$3.00$25.4$39.5$14.2
2023Detailed filing. Detailed filing data is available for this year.$250$233$17.1$19.9$26.1$6.18
2022Detailed filing. Detailed filing data is available for this year.$39.4$9.42$30.0$3.70$4.00$0.30
2021Detailed filing. Detailed filing data is available for this year.$35.3$9.73$25.6$10.8$6.08$4.73
2020Detailed filing. Detailed filing data is available for this year.$32.3$10.8$21.5$4.40$5.34$0.94
2019Detailed filing. Detailed filing data is available for this year.$32.9$10.0$22.9$4.36$4.57$0.21
2018Detailed filing. Detailed filing data is available for this year.$32.1$9.43$22.6$4.67$4.24$0.43
2017Detailed filing. Detailed filing data is available for this year.$31.5$9.61$21.9$3.93$4.00$0.07
2016Detailed filing. Detailed filing data is available for this year.$30.5$9.80$20.7$3.81$3.97$0.16
2015Detailed filing. Detailed filing data is available for this year.$25.7$9.97$15.7$3.83$3.85$0.02
2014Summary only. Only limited summary data is available for this year.$27.4$22.3$5.15$3.04$3.11$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.6$15.0$5.56$3.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.0$12.6$5.41$3.48
2011Summary only. Only limited summary data is available for this year.$17.2$11.8$5.41$3.46$3.55$0.10
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.1
Gross Receipts
$29,600,453
Mission and Program Overview

Mission

Foresight affordable housing, inc. Was created to provide quality affordable housing to low income individuals and families.

Affordable housing provider that provides management services and project oversight in an effort to provide quality affordable housing to lower income individuals and families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$214,752,323$209,994,979▼ $4,757,344
Other Notes and Loans Receivable, Net$15,879,897$16,053,300▲ $173,403
Savings and Temporary Cash Investments$7,781,788$7,209,967▼ $571,821
Investments in Publicly Traded Securities$5,210,578$4,670,759▼ $539,819
Rtn Earn Endowment Incm Other Fnds$17,117,878$2,995,954▼ $14,121,924
Accounts Receivable$797,397$798,246▲ $849
Prepaid Expenses and Deferred Charges$384,733$400,490▲ $15,757
Investments Other Securities$1,836$1,765▼ $71
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$249,776,671$243,613,545▼ $6,163,126
Other Assets Total$4,968,119$4,484,039▼ $484,080
Liabilities
Mortgage Notes Payable Secured by Investment Property$223,061,418$223,061,418→ $0
Accounts Payable and Accrued Expenses$6,346,076$14,076,407▲ $7,730,331
Other Liabilities$3,251,299$3,479,766▲ $228,467
Total Liabilities$232,658,793$240,617,591▲ $7,958,798
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,117,878$2,995,954▼ $14,121,924
Total Liabilities and Net Assets / Fund Balance$249,776,671$243,613,545▼ $6,163,126

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$165,921,734$15,209,291$181,131,025
Land$43,565,040-$43,565,040
Other Land Buildings$508,205$143,547$651,752
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nelson L Morgan IiiExecutive Vice PresidentFT$232,122$111,409$343,531
Martin WhalenVice President of DevelopmentFT$159,235$77,317$236,552
SHONTE' ESPINALVP of Asset OperationsFT$153,366$51,403$204,769
Donald ReapePresident (thru 11/30/24)PT$105,126$11,373$116,499
Dr Bruce JohnsonPresident (VP & Assistant Secretary Thru 12/11/24)PT$36,291$15,767$52,058
E James HendersonVP & Assistant Secretary (secretary & Treasurer Thru 12/11/24)PT$20,460-$20,460
Michael ByrnesSecretary/treasurer (as of 12/11/24)PT$4,000-$4,000
Gerald F SchwamTrustee-$4,000-$4,000
Janvier L OsborneTrustee-$4,000-$4,000
Lynda BarnessTrustee-$4,000-$4,000
Neisa CaraballoTrustee-$4,000-$4,000
Revenue and Support

Revenue Composition

Contributions and Grants
$278,346
Program Service Revenue
$23,635,790
Investment Income
$848,193
Other Revenue
$593,180
Change in Net Assets
$-14,159,688

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$34,720,573
Salaries, Compensation, and Employee Benefits$4,781,649
Grants and Similar Amounts Paid$12,975
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$22,195,107$3,401$0$22,198,508
Depreciation Depletion$6,056,964$0$0$6,056,964
Other Salaries and Wages$2,837,308$564,170$0$3,401,478
Fees for Services Management$0$1,729,810$0$1,729,810
Insurance$1,165,152$32,547$0$1,197,699
Office Expenses$167,936$390,392$0$558,328
Current Officers, Directors, Trustees, and Key Employees$552,548$0$0$552,548
Other Employee Benefits$398,387$58,804$0$457,191
All Other Expenses$224,476$158,394$0$382,870
Payroll Taxes$327,848$24,764$0$352,612
Fees for Services Accounting$0$233,229$0$233,229
Fees for Services Legal$0$188,852$0$188,852
Travel$186,301$0$0$186,301
Fees for Services Other$126,942$37,500$0$164,442
Other Expenses$0$148,828$0$148,828
Conferences and Meetings$0$92,344$0$92,344
Advertising$0$90,822$0$90,822
Pension Plan Contributions$8,641$9,179$0$17,820
Grants to Domestic Orgs$12,975--$12,975
Total Functional Expenses$35,752,161$3,763,036$0$39,515,197

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Other Expense Adjustments$0
Total Expenses per Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Michaels Org Educational FoundCamden, NJ501(c)(3)General Support$12,000
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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$1,925,000
Refundable Advances$759,354
Deferred Charges$741,897
Tenant Security Deposits$48,715
Other Liabilities$4,800
Operating Leases-
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 15 PROCESS TO ESTABLISH COMPENSATION

“Compensation is determined through a third-party review, recommendation of salary ranges based on comparative analysis and executive board recommendation.”

Form 990, Part VI, Line 1A Delegate broad authority to A committee

“Three members of the board of directors make up the executive committee who have authority to act on behalf of foresight affordable housing, inc.”

Form 990, Part VI, Line 3 Delegation of management duties

“Properties owned through foresight's affiliates are managed by a contracted management agent.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“Form 990 was reviewed by the finance committee, which is foresight's executive committee, and a copy was provided to the board prior to filing with the internal revenue service.”

Form 990, Part VI, Line 12C Conflict of interest policy

“Directors, officers and key employees are required to disclose their interests that could give rise to conflicts of interest at least annually.”

Form 990, Part VI, Line 19 Required documents available to the public

“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
Foresight Affordable Housing Inc
EIN
52-1979028
Phone
6098232500
Address
2900 FIRE ROAD SUITE 203, EGG HARBOR TOWNSHIP, NJ 08234

Signing Officer

Name
Nelson L Morgan Iii
Title
Executive Vice President
Phone
6098232500
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1996
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
4
Employees
11
Volunteers
4

Preparer

Firm
Bdo USA
Address
200 PARK AVE 38TH FLOOR, NEW YORK, NY 10166
Preparer
Paul Hammerschmidt
Phone
2128858000
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C Change of oversight process or selection process

“The financial committee reviews all financial statements, selects independent accountant and reviews form 990.”

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“As of december 31, 2024, the organization did not identify any uncertain tax positions taken or expected to be taken in an income tax return which would require adjustment to or disclosure in its consolidated financial statements. In addition, the organization believes it has not engaged in any activities for which its tax-exempt status would not be sustained under internal revenue service examination. Generally, the organization is potentially subject to federal income tax examinations for three years.”

Raw XML AppendixShowing 400 of 1,699 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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IRS990/Form990PartVIISectionAGrp/PersonNm2E JAMES HENDERSON
IRS990/Form990PartVIISectionAGrp/PersonNm3MICHAEL BYRNES
IRS990/Form990PartVIISectionAGrp/PersonNm4GERALD F SCHWAM
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IRS990/Form990PartVIISectionAGrp/PersonNm8NELSON L MORGAN III
IRS990/Form990PartVIISectionAGrp/PersonNm9MARTIN WHALEN
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VP & ASSISTANT SECRETARY (SECRETARY & TREASURER THRU 12/11/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY/TREASURER (AS OF 12/11/24)
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE PRESIDENT OF DEVELOPMENT
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