Parsippany-Troy Hills Senior Citizen Housing Corp

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 222295830 ✦ Parsippany, NJ ✦ Designated as a 501(c)(3)

Shop smarter and support your favorite cause at the same time! With the Give Freely browser extension, you'll automatically save money with coupons, and partner stores will donate to your chosen charity - at no extra cost to you. Start giving back with a single click. It's safe, free, and spam-free, guaranteed!

Overview

What is Parsippany-Troy Hills Senior Citizen Housing Corp?

Parsippany-Troy Hills Senior Citizen Housing Corp is a nonprofit organization situated in Parsippany, New Jersey. Its primary mission is to aid low and moderate-income elderly and disabled individuals in addressing their housing needs. To accomplish this, the organization operates and maintains an affordable housing community with 191 units, complying with Section 8 of the U.S. Housing Act of 1937. The corporation's activities are centered around managing and maintaining this living space for its inhabitants. With a team of 11 employees, Parsippany-Troy Hills Senior Citizen Housing Corp strives to provide suitable housing for its targeted population, ensuring their well-being and comfort.

What are the reviews and ratings of this charity?

94% rating from Charity Navigator indicates that Parsippany-Troy Hills Senior Citizen Housing Corp has achieved a Four-Star out of Four Star rating, signifying strong accountability and financial health. The score is based solely on accountability and finance metrics, reflecting the organization’s commitment to transparency and responsible management of resources.

The nonprofit demonstrates exceptional governance with an independent board consisting entirely of 10 members, and it earns top marks in various financial oversight categories, including an audit and oversight committee. The organization also has robust policies in place for conflict of interest, whistleblowing, and document retention, showcasing its dedication to ethical practices and integrity.

Financially, the organization maintains a high program expense ratio of 85.01%, indicating that a significant portion of its funds is directed towards its mission rather than administrative costs. With no material diversion of assets reported and a low liabilities-to-assets ratio of 0.91%, the organization appears well-positioned to continue serving its community effectively. Overall, the ratings reflect a strong, well-managed nonprofit with a commitment to its mission and stakeholders.


This AI summary has been generated from information found on Charity Navigator.

Is Parsippany-Troy Hills Senior Citizen Housing Corp legitimate?

Parsippany-Troy Hills Senior Citizen Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Parsippany-Troy Hills Senior Citizen Housing Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $418,238

For more financial information, click here

What is the mission statement of Parsippany-Troy Hills Senior Citizen Housing Corp?

The Parsippany-Troy Hills Senior Citizen Housing Corp is committed to assisting low-income elderly and disabled individuals in meeting their housing needs. This organization operates and maintains an affordable housing community, consisting of 191 units, in adherence to Section 8 of the U.S. Housing Act of 1937, as amended. The primary goal of the corporation is to provide a suitable living environment for these individuals, ensuring their housing needs are met with affordability and consideration. The organization's mission is to contribute to the well-being and independence of these vulnerable groups by addressing their housing requirements.

Who is the CEO of Parsippany-Troy Hills Senior Citizen Housing Corp?

Bruce Benson is the President of Parsippany-Troy Hills Senior Citizen Housing Corp.

What is the revenue of Parsippany-Troy Hills Senior Citizen Housing Corp?

Parsippany-Troy Hills Senior Citizen Housing Corp's revenue in 2022 was $3,469,902.

Who are the executives of Parsippany-Troy Hills Senior Citizen Housing Corp and what are their salaries?

The average compensation at Parsippany-Troy Hills Senior Citizen Housing Corp during 2022 was $38,022. There are 11 employees at Parsippany-Troy Hills Senior Citizen Housing Corp.


Here are 8 key members and their salaries:


Bruce T Benson (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert De Guarde (Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert V Roberti (Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kenneth L Garbarino (Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Stephen J Merola (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Satya Konkesa (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Helene Warm (Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
John H Schlitt (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Parsippany-Troy Hills Senior Citizen Housing Corp?

Parsippany-Troy Hills Senior Citizen Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Parsippany-Troy Hills Senior Citizen Housing Corp

Parsippany-Troy Hills Senior Citizen Housing Corp is dedicated to aiding low-income elderly and disabled individuals in fulfilling their housing needs. The organization's primary objective is to provide an affordable housing community, consisting of 191 units, specifically designed for elderly and handicapped individuals. This is carried out in accordance with Section 8 of the U.S. Housing Act of 1937, as amended. In essence, Parsippany-Troy Hills Senior Citizen Housing Corp serves as a shelter and support system for those who may struggle with housing due to their age or disability, ensuring they can live in a secure and affordable environment.

Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!

Impact




October, 2024

Parsippany-Troy Hills Senior Citizen Housing Corp plays a crucial role in providing affordable housing solutions for low and moderate-income elderly and disabled individuals. By operating and maintaining a community with 191 housing units specifically designed for these populations, the organization ensures that seniors and handicapped individuals have access to safe, suitable living conditions. This initiative addresses a significant need in the community, offering residents not just a place to live, but also fostering a sense of belonging and support among peers. By adhering to Section 8 of the U.S. Housing Act, the organization helps alleviate housing insecurity, allowing residents to focus on their well-being and quality of life. The impact extends beyond individual housing; it enhances the overall community by promoting inclusivity and stability for some of society's most vulnerable members.




This information is meant to be a general summary of Parsippany-Troy Hills Senior Citizen Housing Corp. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$3,469,902 (2022)
Expenses
$2,755,079 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $217,781
  • Program Service Revenue: $579,778
  • Gross Receipts: $3,469,902

Assets and Liabilities:

  • Total Assets: $19,750,510
  • Total Liabilities: $210,447
  • Net Assets: $19,540,063

Want to help this charity, for free? You can click here to learn more about Give Freely

Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

LAUNDRY AND OTHER INCOME

Revenue

$5,280

OTHER FEES

Revenue

$55

RENTAL REVENUE

Revenue

$574,443

Organization Details

Founding Year

1979

Principal Officer

Bruce Benson

Main Address

C/O ALAN J RICH 8 WOODHOLLOW ROAD, PARSIPPANY, NJ, 07054

NTEE Category

Code: L22 - Housing

If you are a representative of Parsippany-Troy Hills Senior Citizen Housing Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.