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Riese-Madison Park FY2020 filing

Tax-deductible

Paterson, NJ501(c)(3) EIN 22-2125691Revenue $1.3M in FY2020

On file with the IRS70 Dey Street, 07503-1943 · Paterson, NJTax-exempt since Dec 1976Publicly supported charity — 170(b)(1)(A)(vi)

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The corporation owns and manages a 92-unit apartment building for the elderly in paterson, NJ. The project is operated under section 202 of the national housing act and regulated by the new jersey housing and mortgage finance agency(njhmfa)and the US department of housing and urban development (hud) with respect to rental charges and operating methods.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $238K a year · 16% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$55K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
Spent
$1.3M
To programs
92%
Net assets
$2.2M
By yearFY2020–FY2025
Revenue
$1.3M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.4M
FY2023$1.5M
FY2024$1.8M
FY2025$1.8M
Expenses
$1.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.2M
FY2022$1.3M
FY2023$1.3M
FY2024$1.3M
FY2025$1.3M
Net assets
$2.2M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.2M
FY2021$2.3M
FY2022$2.4M
FY2023$2.6M
FY2024$3.1M
FY2025$3.7M

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1976.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $1.2M Management & general 8% · $107K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Joseph Duffy
Secretary
$0Pt VII · Sec A
Andrew F McBride
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Thomas Burns
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Riese-Madison Park 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

Provides affordable housing for seniors in Paterson, NJ.

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Provided by the organization

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1 program · $1.2M · in their own filed words · FY2019
01

To provide low income senior citizen housing. The project has 92 units.

$1.2Mprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$15K
Other incomeLn 4–11$2K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$107K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$876K
Total assetsLn 16$2.3M
LiabilitiesLn 26$55K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$15K
Other incomeLn 4–11$2K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$15K
SavingsLn 2$861K
Cash and savings togetherLn 1–2$876K
Land, buildings, equipmentLn 10c$1.4M
Total assetsLn 16$2.3M
LiabilitiesLn 26$55K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 53
VolunteersI 68
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.1M$876K
Land, buildings, equipmentLn 10c$1.1M$1.4M
Total assetsLn 16$2.3M$2.3M
LiabilitiesLn 26$55K$55K
Net assetsLn 32$2.2M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$113K$113K
Pension plan contributionsLn 8$9K$9K
Other employee benefitsLn 9$19K$19K
Payroll taxesLn 10$6K$6K
Management feesLn 11a$66K$66K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$12K$12K
Office expensesLn 13$6K$6K
Information technologyLn 14$10K$10K
OccupancyLn 16$937K$937K
Depreciation, depletion and amortizationLn 22$62K$62K
InsuranceLn 23$86K$86K
Other expenses (24a–d)Ln 24$12K$1K$11K
Total functional expensesLn 25$1.3M$1.2M$107K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.8M$1.3M$572K$3.7M 990 PDF
FY2024 $1.8M$1.3M$505K$3.1M 990 PDF
FY2023 $1.5M$1.3M$215K$2.6M 990 PDF
FY2022 $1.4M$1.3M$65K$2.4M 990 PDF
FY2021 $1.3M$1.2M$102K$2.3M 990 PDF
FY2020 Viewing $1.3M$1.3M−$28K$2.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,314,698 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,247,651$1,298,372
I-10 Investment incomePrior year $13,094$14,522
I-11 Other revenuePrior year $4,442$1,804
I-12 Total revenuePrior year $1,265,187$1,314,698
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 $134,266$148,596
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,147,693$1,193,649
I-18 Total expensesPrior year $1,281,959$1,342,245
I-19 Revenue less expensesPrior year −$16,772−$27,547
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $1,314,698 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,298,372$1,298,372
VIII-3 Investment incomeExcluded from tax $14,522$14,522
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,804$1,804
VIII-12 Total revenueRelated to mission $1,298,372 · Unrelated business $0 · Excluded from tax $16,326$1,314,698
Part IX · Statement of functional expenses $1,342,245 across 13 lines filed
IX-7 Other salaries and wagesPrograms $113,361$113,361
IX-8 Pension plan contributionsPrograms $9,460$9,460
IX-9 Other employee benefitsPrograms $19,492$19,492
IX-10 Payroll taxesPrograms $6,283$6,283
IX-11a Management feesManagement $66,240$66,240
IX-11b Legal feesManagement $1,780$1,780
IX-11c Accounting feesManagement $12,300$12,300
IX-13 Office expensesManagement $6,084$6,084
IX-14 Information technologyManagement $10,231$10,231
IX-16 OccupancyPrograms $936,519$936,519
IX-22 Depreciation, depletion and amortizationPrograms $62,422$62,422
IX-23 InsurancePrograms $86,408$86,408
IX-24 Other expenses (24a–d)Programs $1,070 · Management $10,595$11,665
IX-25 Total functional expensesPrograms $1,235,015 · Management $107,230 · Fundraising $0$1,342,245
Part X · Balance sheet $2,263,391 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $176,720$15,137
X-2 Savings and temporary cash investmentsStart of year $965,529$860,530
X-4 Accounts receivableStart of year $2,481$246
X-9 Prepaid expenses and deferred chargesStart of year $20,152$25,437
X-10c Land, buildings and equipment, netStart of year $1,126,191$1,362,041
X-16 Total assetsStart of year $2,291,073$2,263,391
X-17 Accounts payable and accrued expensesStart of year $26,074$26,932
X-25 Other liabilitiesStart of year $29,380$28,387
X-26 Total liabilitiesStart of year $55,454$55,319
X-27 Net assets without donor restrictionsStart of year $2,235,619$2,208,072
X-32 Total net assets or fund balancesStart of year $2,235,619$2,208,072
X-33 Total liabilities and net assetsStart of year $2,291,073$2,263,391
Part XI · Reconciliation of net assets $2,208,072 net assets at year end
XI-1 Total revenue$1,314,698
XI-2 Total expenses$1,342,245
XI-3 Revenue less expenses−$27,547
XI-4 Net assets at start of year$2,235,619
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,208,072

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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