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Griggs Farm INC

Tax-deductible

Princeton, NJ501(c)(3)HousingEIN 20-8198080Revenue $744K in FY2024

On file with the IRSprincetoncommunityhousing.org1 Monument Dr, 08540-3036 · Princeton, NJTax-exempt since Jun 2007Publicly supported — 509(a)(2)

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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.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $29K a year · 5% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $110K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$155K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$744K
+17% vs prior year
Spent
$637K
To programs
86%
Net assets
$884K
By yearFY2020–FY2024
Revenue
$744K
FY2024▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$595K
FY2021$644K
FY2022$640K
FY2023$638K
FY2024$744K
Expenses
$637K
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$486K
FY2021$645K
FY2022$689K
FY2023$657K
FY2024$637K
Net assets
$884K
FY2024▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$846K
FY2021$845K
FY2022$796K
FY2023$777K
FY2024$884K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $546K Management & general 14% · $91K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation
Abreah Santiago
Board Member
$0Pt VII · Sec A
Alice K Small
President
$0Pt VII · Sec A
C Vanleer Davis
Board Member
$0Pt VII · Sec A
Chad Klaus
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Elizabeth Hock
Board Member
$0Pt VII · Sec A
James Demetriades
Board Member
$0Pt VII · Sec A
John W Gilmore
Board Member
$0Pt VII · Sec A
See Griggs Farm INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds affordable homes for low-income families, charging rent based on their income.

Provided by the organization

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1 program · $546K · in their own filed words · FY2024
01

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.

$546Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Princeton Community Housing INCFY2024$110K
Total grants receivedfrom 1 funder$110K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$744K
Ln 12
Fees for servicesLn 2g$634K
Gifts and grantsLn 1h$110K
Investment incomeLn 3$18
Money outPt IX
$637K
Ln 25
Programscol B$546K
Managementcol C$91K
Owns and owesPt X
$884K
net assets · Ln 32
Cash and savingsLn 1–2$97K
Total assetsLn 16$1.0M
LiabilitiesLn 26$155K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$110K
Fees for servicesLn 2g$634K
Investment incomeLn 3$18
Total revenueLn 12$744K
Assets in detailPt X, end of year
CashLn 1$97K
Cash and savings togetherLn 1–2$97K
Land, buildings, equipmentLn 10c$822K
Other assetsLn 15$99K
Total assetsLn 16$1.0M
LiabilitiesLn 26$155K
Net assetsLn 32$884K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$15K$97K
Land, buildings, equipmentLn 10c$817K$822K
Total assetsLn 16$1.0M$1.0M
LiabilitiesLn 26$229K$155K
Net assetsLn 32$777K$884K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$269K$201K$68K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$12K$12K
Office expensesLn 13$13K$6K$7K
Information technologyLn 14$3K$1K$1K
OccupancyLn 16$79K$79K
Depreciation, depletion and amortizationLn 22$26K$26K
Other expenses (24a–d)Ln 24$226K$226K
All other expensesLn 24e$2K$80$2K
Total functional expensesLn 25$637K$546K$91K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $744K$637K$107K$884K 990 PDF
FY2023 $638K$657K−$19K$777K 990 PDF
FY2022 $640K$689K−$49K$796K 990 PDF
FY2021 $644K$645K−$735$845K 990 PDF
FY2020 $595K$486K$109K$846K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $744,446 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$110,028
I-9 Program service revenuePrior year $637,834$634,400
I-10 Investment incomePrior year $46$18
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $637,880$744,446
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $657,353$637,045
I-18 Total expensesPrior year $657,353$637,045
I-19 Revenue less expensesPrior year −$19,473$107,401
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $744,446 across 6 lines filed
VIII-1d Related organizations$110,000
VIII-1f All other contributions, gifts and grants$28
VIII-1h Total contributions, gifts and grants$110,028
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $634,400$634,400
VIII-3 Investment incomeExcluded from tax $18$18
VIII-12 Total revenueRelated to mission $634,400 · Unrelated business $0 · Excluded from tax $18$744,446
Part IX · Statement of functional expenses $637,045 across 9 lines filed
IX-11a Management feesPrograms $200,730 · Management $67,980$268,710
IX-11b Legal feesPrograms $5,863$5,863
IX-11c Accounting feesManagement $12,089$12,089
IX-13 Office expensesPrograms $5,615 · Management $7,355$12,970
IX-14 Information technologyPrograms $1,489 · Management $1,489$2,978
IX-16 OccupancyPrograms $79,348$79,348
IX-22 Depreciation, depletion and amortizationPrograms $26,140$26,140
IX-24 Other expenses (24a–d)Programs $226,482$226,482
IX-24e All other expensesPrograms $80 · Management $2,385$2,465
IX-25 Total functional expensesPrograms $545,747 · Management $91,298 · Fundraising $0$637,045
Part X · Balance sheet $1,039,609 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $14,530$97,366
X-4 Accounts receivableStart of year $35,551$3,787
X-9 Prepaid expenses and deferred chargesStart of year $20,137$18,053
X-10c Land, buildings and equipment, netStart of year $817,221$821,791
X-15 Other assetsStart of year $118,232$98,612
X-16 Total assetsStart of year $1,005,671$1,039,609
X-17 Accounts payable and accrued expensesStart of year $144,756$47,865
X-19 Deferred revenueStart of year $14,309$36,108
X-25 Other liabilitiesStart of year $0$970
X-26 Total liabilitiesStart of year $228,727$155,264
X-27 Net assets without donor restrictionsStart of year $776,944$884,345
X-32 Total net assets or fund balancesStart of year $776,944$884,345
X-33 Total liabilities and net assetsStart of year $1,005,671$1,039,609
Part XI · Reconciliation of net assets $884,345 net assets at year end
XI-1 Total revenue$744,446
XI-2 Total expenses$637,045
XI-3 Revenue less expenses$107,401
XI-4 Net assets at start of year$776,944
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$884,345

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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