2024-11-14T06:19:51-06:00 2023-12-31 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2023-01-01 208198080 GRIGGS FARM INC GRIG 6099243822 ONE MONUMENT DRIVE PRINCETON NJ 08540 EDWARD TRUSCELLI EXECUTIVE DIRECTOR 6099243822 2024-11-13 1 1 JOLANTA TUCK CPA P01340068 2122970400 2024-11-05 2023 2024-10-15 13:58:12Z EDWARD TRUSCELLI ONE MONUMENT DRIVE PRINCETON NJ 08540 637880 0 X WWW.PRINCETONCOMMUNITYHOUSING.ORG X 2007 NJ PROVIDE QUALITY HOMES IN A DIVERSE COMMUNITY FOR HOUSEHOLDS WHOSE TOTAL GROSS INCOMES FALL BETWEEN 30 AND 60 PERCENT OF THE AREA MEDIAN AND WITHIN GUIDELINES SET BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR LOW INCOME HOUSEHOLDS RENT FOR ALL UNITS IS SET AT 30% OF GROSS INCOME. 16 16 0 16 0 0 30000 0 610191 637834 89 46 0 0 640280 637880 0 0 0 0 141607 0 0 0 0 547232 657353 688839 657353 -48559 -19473 973076 1005671 176659 228727 796417 776944 X PROVIDE QUALITY ONE, TWO AND THREE BEDROOM HOMES IN A DIVERSE COMMUNITY FOR FAMILIES AND HOUSEHOLDS OF LOW INCOME OFFER SOCIAL AND SUPPORTIVE OPPORTUNITIES AND ENSURE ACCESS TO THE PRINCETON COMMUNITY. 0 0 559900 637834 GRIGGS FARM, INC OWNS 70 AFFORDABLE LOW INCOME UNITS. THE GRIGGS FARM COMMUNITY ALSO INCLUDES 70 AFFORDABLE OWNERSHIP UNITS MANAGED BY THE MUNICIPALITY OF PRINCETON, AND 140 MARKET RATE PRIVATE OWNERSHIP UNITS. GRIGGS FARM WAS DEVELOPED THROUGH THE FEDERAL LOW INCOME HOUSING TAX CREDIT PROGRAM, ALL TAX CREDITS WERE REDEEMED IN 2005 THERE ARE NO CURRENT GOVERNMENT SUBSIDIES AND GRIGGS FARM INC'S OPERATIONS ARE FINANCED SOLELY FROM THE RENTAL INCOME DERIVED FROM ITS 70 UNITS. THROUGH CAREFUL MANAGEMENT, WE ARE ABLE TO HOLD RENTS TO 30% OF EACH HOUSEHOLD'S GROSS INCOME. PCH DEVELOPMENT CORP A RELATED NONPROFIT ORGANIZATION, MANAGES THE UNITS AND OPERATIONS GRIGGS FARM IS SERVED DAILY VIA PUBLIC BUS TRANSPORTATION, ENABLING RESIDENTS TO TRAVEL TO NEARBY JOBS AND SHOPPING, DOWNTOWN PRINCETON AND AREA MALLS. GRIGGS FARM, INC WORKS WITH MERCER STREET FRIENDS TO OFFER A TWICE-A-MONTH FOOD PANTRY TO RESIDENTS (FREE OF CHARGE) WHO ARE INCOME QUALIFIED STAFF AND VOLUNTEERS, MAKE SURE THAT FOOD BAGS ARE DISTRIBUTED TO EACH ELIGIBLE HOUSEHOLD. THE FOOD IS PURCHASED THROUGH THE GRIGGS FARM INC OPERATING BUDGET OR DONATED EVERY THANKSGIVING. FOOD PANTRY HOUSEHOLDS ALSO RECEIVE A TURKEY AND TRIMMING AT NO COST. GRIGGS FARM INC ALSO PROVIDES RESIDENTS WITH CHILDREN UNDER THE AGE OF 18 WITH A STIPEND TO SUBSIDIZE SUMMER ACTIVITIES ADMINISTERED THROUGH VARIOUS LOCAL ENRICHMENT PROGRAMS, INCLUDING THE MUNICIPAL RECREATION DEPARTMENT A REPRESENTATIVE FROM THE PCH BOARD OF TRUSTEES AND INTERNAL. GRIGGS FARM COMMITTEE WORKS CLOSELY WITH THE GRIGGS FARM CONDO ASSOCIATION AND ITS BOARD TO ENSURE CONSTANT COMMUNICATION THERE IS ALSO A COMMUNITY CLUBHOUSE ON SITE FOR RESIDENT USE. ELIGIBLE RESIDENTS MAY PARTICIPATE IN THE FOOD PANTRY AND SUMMER RECREATION STIPEND PROGRAMS. 559900 1 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 NJ X ALICIA DEFREITAS CO PCH DEVELOPMENT CORPORATION 6099243822 ONE MONUMENT DRIVE PRINCETON NJ 08540 ABREAH SANTIAGO BOARD MEMBER 1.00 7.00 X 0 0 0 ALICE K SMALL PRESIDENT 1.00 7.00 X X 0 0 0 C VANLEER DAVIS BOARD MEMBER 1.00 7.00 X 0 0 0 CHAD KLAUS BOARD MEMBER 1.00 7.00 X 0 0 0 DANIELA BONAFEDE-CHHABRA BOARD MEMBER 1.00 7.00 X 0 0 0 ELIZABETH HOCK BOARD MEMBER 1.00 7.00 X 0 0 0 JAMES DEMETRIADES BOARD MEMBER 1.00 7.00 X 0 0 0 JOHN W GILMORE BOARD MEMBER 1.00 7.00 X 0 0 0 KATHLEEN K FAREWELL VICE PRESIDENT 1.00 7.00 X X 0 0 0 MARGARET GRIFFIN BOARD MEMBER 1.00 7.00 X 0 0 0 NICOLE SHELTON BOARD MEMBER 1.00 7.00 X 0 0 0 RICHARD GITTLEMAN BOARD MEMBER 1.00 7.00 X 0 0 0 ROBERT FERNHOLZ SECRETARY 1.00 7.00 X X 0 0 0 SONIA CHADHA BOARD MEMBER 1.00 7.00 X 0 0 0 TONY CAPOZZOLI TREASURER 1.00 7.00 X X 0 0 0 VALERIE HAYNES BOARD MEMBER 1.00 7.00 X 0 0 0 EDWARD TRUSCELLI EXECUTIVE DIRECTOR 1.00 39.00 X 0 169437 37693 JANET MCCLAFFERTY FINANCE DIRECTOR 1.00 39.00 X 0 134458 17414 0 303895 55107 0 0 1 0 0 RENTAL INCOME 531110 620358 620358 TENANT CHARGES 531110 17476 17476 637834 46 46 637880 637834 0 46 243310 174767 68543 16662 16662 16815 16815 13390 5213 8177 2932 1466 1466 81469 81469 125 125 25109 25109 OPERATING AND MAINTENAN 244870 244870 BAD DEBT EXPENSE 9302 9302 RECREATION AND REHAB 496 496 2873 421 2452 657353 559900 97453 0 23550 14530 21685 35551 19010 20137 7158832 6341611 775591 817221 133240 118232 973076 1005671 94270 144756 13982 14309 68407 69662 176659 228727 X 796417 776944 796417 776944 973076 1005671 -19473 0 X X 0 1 X 1 0 X 50000 20000 75000 30000 0 175000 517387 573888 568410 610191 637834 2907710 567387 593888 643410 640191 637834 3082710 0 0 0 3082710 864 679 900 89 46 2578 864 679 900 89 46 2578 568251 594567 644310 640280 637880 3085288 0.99920 0.99890 0.00080 0.00110 X 0 1 X 406481 406481 6752351 6341611 410740 817221 TENANT SECURITY DEPOSITS 69662 REPLACEMENT RESERVE 43371 DUE FROM AFFILIATE 5199 118232 X 8372651 7734771 7734771 637880 0 637880 8403739 7746386 7746386 657353 0 657353 PART IV, LINE 2B: TENANT SECURITY DEPOSITS ARE HELD IN A SEPARATE INTEREST BEARING BANK ACCOUNT IN THE NAME OF THE ORGANIZATION IN TRUST FOR THE TENANTS. PART X, LINE 2: DUE TO THEIR TAX-EXEMPT STATUS, PCH AND NONPROFIT CORPORATE AFFILIATES ARE NOT SUBJECT TO INCOME TAXES. PCH AND NONPROFIT CORPORATE AFFILIATES ARE REQUIRED TO FILE AND DO FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND PCH AND NONPROFIT CORPORATE AFFILIATES HAVE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. PCH AND NONPROFIT CORPORATE AFFILIATES ARE NO LONGER SUBJECT TO U.S. FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED DECEMBER 31, 2020 AND PRIOR. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATION REVENUES 9,345,577. RELATED ORGANIZATION ELIMINATIONS -1,610,806. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATION EXPENSES 8,806,864. RELATED ORGANIZATION ELIMINATIONS -1,060,478. 0 0 0 0 0 0 0 0 0 EDWARD TRUSCELLI EXECUTIVE DIRECTOR 0 169437 0 0 0 0 0 5350 0 32343 0 207130 0 0 JANET MCCLAFFERTY FINANCE DIRECTOR 0 134458 0 0 0 0 0 4107 0 13307 0 151872 0 0 FORM 990, PART VI, SECTION A, LINE 3 OVERSIGHT OF MANAGEMENT FUNCTIONS FOR THE CORPORATION ARE PERFORMED BY PCH DEVELOPMENT CORPORATION, A RELATED PARTY. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990, WITH THE SCHEDULE B REMOVED DUE TO DONOR REQUESTS FOR ANONYMITY, IS EMAILED TO BOARD MEMBERS BEFORE THE 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND THE KEY EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PART VI, SECTION C, LINE 18 990 IS AVAILABLE VIA WWW.GUIDESTAR.ORG AND UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS DESCRIBED ARE AVAILABLE UPON REQUEST. FORM 990, PG 6, SEC B QUESTIONS 15A AND 15B: THESE QUESTIONS ARE ANSWERED NO IN ACCORDANCE WITH IRS FORM 990 INSTRUCTIONS. THE RELATED ORGANIZATION, WHICH PAID OFFICER COMPENSATION, USED A PROCESS FOR DETERMINING COMPENSATION THAT INCLUDED 1) REVIEW AND APPROVAL BY A GOVERNING BOARD OR COMMITTEE COMPRISED OF PERSONS WITH NO CONFLICT OF INTEREST, 2) USE OF DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS, 3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. ELM COURT II INC ONE MONUMNET DRIVE PRINCETON NJ 08540 562477473 VERY LOW INCOME HOUSING NJ 501(C)(3) LINE 10 PRINCETON COMMUNITY HOUSING 0 ELM COURT INC ONE MONUMNET DRIVE PRINCETON NJ 08540 208984541 VERY LOW INCOME HOUSING NJ 501(C)(3) LINE 10 PRINCETON COMMUNITY HOUSING 0 PCH DEVELOPMENT CORPORATION ONE MONUMNET DRIVE PRINCETON NJ 08540 222876697 MANAGEMENT COMPANY FOR LOW AND MODERATE INCOME HOUSING PROJECTS NJ 501(C)(3) LINE 10 PRINCETON COMMUNITY HOUSING 0 PCH HOMES INC ONE MONUMNET DRIVE PRINCETON NJ 08540 274444170 LOW AND MODERATE INCOME HOUSING INCOME HOUSING NJ 501(C)(3) LINE 10 PRINCETON COMMUNITY HOUSING 0 PCH VILLAGE INC ONE MONUMNET DRIVE PRINCETON NJ 08540 222085939 LOW AND MODERATE INCOME HOUSING NJ 501(C)(3) LINE 10 PRINCETON COMMUNITY HOUSING 0 PCV GROUP INC ONE MONUMNET DRIVE PRINCETON NJ 08540 222820022 LOW AND MODERATE INCOME HOUSING INCOME HOUSING NJ 501(C)(3) LINE 10 PRINCETON COMMUNITY HOUSING 0 PRINCETON COMMUNITY HOUSING INC ONE MONUMNET DRIVE PRINCETON NJ 08540 133026182 RAISE FUNDS & PROVIDE ASSISTANCE TO LOW AND MODERATE INCOME HOUSING PROJECTS NJ 501(C)(3) LINE 7 N/A 0 PRINCETON COMMUNITY VILLAGE ASSOCIATES LP ONE MONUMENT DRIVE PRINCETON NJ 08540 222578601 LOW AND MODERATE INCOME HOUSING NJ N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0