2024-11-12T09:15:35-06:00 2023-12-31 WITHUMSMITHBROWNPC 331 NEWMAN SPRINGS RD STE 125 RED BANK NJ 077016765 990 2023-01-01 223548435 Homes Now Inc % CHRISTINE HOFMANN HOME 7322957380 2141 Route 88 East No 1 Brick Township NJ 08724 CHRISTINE HOFMANN EXECUTIVE DIRECTOR 7322957380 2024-11-15 true true TERRY C MONCRIEF CPA P00065201 7328423113 2023 2024-10-15 13:58:12Z CHRISTINE HOFMANN 2141 Route 88 East No 1 Brick Township NJ 08724 4657233 false X Homes-now.org X 1997 NJ PROVIDE AFFORDABLE HOUSING TO LOW AND MODERATE INCOME HOUSING 5 5 5 7 89465 0 185027 247794 303240 301168 3406 4148 98748 -447338 590421 105772 2571 185 0 0 346485 88954 0 0 0 388205 487332 737261 576471 -146840 -470699 16975740 17563178 10818312 11853081 6157428 5710097 PROVIDE AFFORDABLE HOUSING AND SERVICES TO MUNICIPALITIES THROUGHOUT THE STATE OF NEW JERSEY false false 503791 185 304677 RENOVATE AND CONSTRUCT NEW HOUSING FOR LOW INCOME HOUSING FAMILIES, MONITOR AND PROVIDE MANGEMENT SERVICES FOR LOW INCOME HOUSING PROJECTS FOR COAH COMPLIANCE 503791 true true false false false false false false false false true false false false true true false true false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true X 32 0 true 5 true true true false false false false false false false false false false false X 5 5 false false false false false false false true true false false true true true true true true true true false NJ X CHRISTINE HOFMANN 7322957380 2141 ROUTE 88 SUITE 1 BRICK NJ 087243268 CHRISTINE HOFFMANN EXECUTIVE DIRECTOR 40.0 0.0 X 128487 0 0 Paul Barlo Trustee (Thru 11/15/2023) 2.0 0.0 X 0 0 0 Sharon Labash VICE PRESIDENT - TRUSTEE 2.0 0.0 X X 0 0 0 Christine McBride SECRETARY - TRUSTEE 2.0 0.0 X X 0 0 0 Beth Meckel TREASURER - Trustee 2.0 0.0 X X 0 0 0 John HazeletThru 11152023 PRESIDENT - TRUSTEE 2.0 0.0 X X 0 0 0 Lauren Frank MUNICIPAL LIAISON 1.0 0.0 X 0 0 0 Mike Martone Trustee (Thru 11/15/2023) 2.0 0.0 X 0 0 0 Steven Green TRUSTEE 2.0 0.0 X 0 0 0 128487 0 0 1 false false false Heartstone Development LLC PO Box 372 EAST HANOVER NJ 07936 CONSTRUCTION Mgmt. 676192 AMERISCAPE LANDSCAPE DESIGN LLC 366 EVERETT ROAD LINCROFT NJ 07738 Landscaping 411547 PINNACLE DOOR AND MILWORK LLC 201 STRYKERS RD LOPATCONG NJ 08865 CONSTRUCTION 359289 ANA ELECTRIC LLC PO BOX 7503 MONROE TOWNSHIP NJ 08831 Electrical cont. 151150 EASTERN CONTRACTOR SERVICES 121 BARTLEY FLANDERS RD FLANDERS NJ 07836 CONSTRUCTION 118879 5 228694 19100 247794 MANAGEMENT FEES 561000 252072 252072 DEVELOPER FEES 900099 49096 49096 301168 4148 4148 0 0 89465 89465 0 89465 89465 0 0 0 0 0 0 0 4011149 4551461 -540312 -540312 MISCELLANEOUS 900099 3509 3509 3509 105772 -235635 89465 4148 185 185 0 0 0 0 0 50913 35639 15274 4779 3345 1434 25388 17772 7616 7874 5512 2362 0 0 19499 19499 0 0 0 0 0 47793 37935 9858 0 0 257035 244091 12944 2883 2451 432 0 0 21743 18482 3261 0 122384 122384 15995 15995 576471 503791 72680 0 X 611194 465602 1044284 1371147 45881 23341 0 0 0 0 0 0 193559 169946 12154449 12683306 5648 13749 4997710 2255483 2864612 2742227 0 0 0 0 0 0 0 0 56113 93860 16975740 17563178 2002357 62410 0 0 0 0 0 0 0 0 0 0 6290681 9190961 0 0 2525274 2599710 10818312 11853081 X 6157428 5710097 0 0 6157428 5710097 16975740 17563178 -470699 23368 X false true X true false X 295245 195881 186233 185027 247794 1110180 0 0 295245 195881 186233 185027 247794 1110180 0 1110180 102584 112462 97205 95605 93163 501019 0 0 0 3205 6549 3509 13263 1624462 1229703 0.68341 0.71748 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 129522 129522 4559032 2115045 2443987 223673 54955 168718 48103 48103 0 37380 37380 0 2742227 0 SECURITY DEPOSITS 9217 REFUNDABLE ADVANCES 1371147 LEASE PAYABLE 1219346 2599710 X 4767129 109896 4551461 4661357 105772 105772 5214460 86528 4551461 4637989 576471 576471 Part X, line 2 THIS ORGANIZATION FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION ANDMEASUREMENT OF UNCERTAIN TAX PROVISIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAD NO IMPACT ON THIS ORGANIZATION'S FINANCIAL STATEMENT. THE ORGANIZATION HAS NO UNRECONGNIZED TAX BENEFITS AT DECEMBER 31, 2023 AND 2022. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. Parts XII and XII - Line 2d Cost of goods sold of $4,551,461 netted on Part VII of Form 990. FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S OFFICERS AND BOARD OF TRUSTEES BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C: TO ENSURE THE ORGANIZATION OPERATES IN A MANOR WITH ITS TAX-EXEMPT PURPOSES AND DOES NOT ENGAGE IN ACTIVITES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS ARE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT MINIMUM INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION AND THE RESULT OF ARM'S LENGTH BARGAINING. B. WHETHER ALL ARRANGEMENTS WITH THE MANAGEMENT OF THE ORGANIZATION CONFORM TO THE ORGANIZATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OF PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSABLE PRIVATE BENEFIT OR IN EXCESS BENEFIT TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION HAS ADOPTED AN EXECUTIVE COMPENSATION POLICY. THE TOTAL COMPENSATION OF EACH PERSON IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19: THESE ITEMS ARE MADE AVAILALE UPON REQUEST SECTION 168(H) (6) (F) (II) ELECTION HOMES NOW, INC HEREBY ACKNOWLEDGES THAT IT'S SUBSIDIARY HOMES NOW BEACHVIEW RESIDENCE, INC. ID (#46-1127070) HAS ELECTED UNDER SECTION 168(H) (6) (F) (II) OF THE INTERNAL REVENUE CODE TO HAVE ANY RECOGNIZED GAIN BY ITS TAX EXEMPT PARENT ON ANY DISPOSITION OF AN INTEREST IN TAXPAYER (AND TO TREAT ANY DIVIDENDS OR INTEREST RECEIVED OR ACCRUED FROM THE TAXPAYER) AS UNREALTED BUSINESS TAXABLE INCOME UNDER CODE SECTION 511 IN ORDER FOR HOMES NOW BEACHVIEW RESIDENCE, INC NOT TO BE TREATED AS A "TAX EXEMPT ENTITY' (OR AS A SUCCESSOR TO A TAX-EXEMPT ENTITY). THIS ELECTION IS IRREVOCABLE. Homes Now Sycamore Ridge 2141 Rt 88 East Suite 1 Brick NJ 08724 611729443 HOUSING NJ 501(c)(3) 7 NA false Homes Now Tudor Village 2141 Rt 88 Suite 1 Brick NJ 08724 453684721 HOUSING NJ 501(c)(3) 7 NA false false false false false false false false false false false false false false false false false false false false