Pch Development Corporation FY2023 filing

Tax-deductible

Princeton, NJ501(c)(3)EIN 22-2876697

The organization's mission is to find opportunities to create and manage affordable housing for low and moderate income individuals and to provide management sevices for low and moderate income housing projects.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$414K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
4 of 5
filings with a surplus
Average surplus $135K a year · 15% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$414K
to officers and key staff · 64% of spending
Concern: pay to officers and key staff is 64% of spending; over 30%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $152K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$30K
3% of total assets
Looks good: liabilities are 3% 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
$811K
-20% vs prior year
Spent
$645K
To programs
75%
Net assets
$1.0M
By yearFY2020–FY2024
Revenue
$811K
FY2023▼ -20%
Revenue by fiscal year
FY2020$992K
FY2021$917K
FY2022$1.0M
FY2023$811K
FY2024$774K
Expenses
$645K
FY2023▼ -47%
Expenses by fiscal year
FY2020$551K
FY2021$664K
FY2022$1.2M
FY2023$645K
FY2024$758K
Net assets
$1.0M
FY2023▲ +19%
Net assets by fiscal year
FY2020$832K
FY2021$1.1M
FY2022$883K
FY2023$1.0M
FY2024$1.1M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1989.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $487K Management & general 25% · $158K

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

Who runs it and what they're paid

19 people listed on the 990; $414K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$169,437Pt VII · Sec A
Finance Director
$134,458Pt VII · Sec A
Directior of Mission Advancement
$110,052Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Edward Truscelli$176,328$169,437$176,470$157,722$156,582
Katherine Bech$138,133————
Janet McClafferty$110,929$134,458$130,455$129,943$120,644
Kate Bech—$110,052———
Alicia Defreitas$93,448————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Develops and manages affordable housing for low and moderate-income people.

Provided by the organization

This section is blank until Pch Development Corporation claims this page.

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1 program service account for $487K of program spending, described in the organization's own filed words · FY2023.
01

The organization provides management services to low and moderate income housing projects and seeks to create affordable housing in new jersey.

$487Kprogram expense

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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
Total grants receivedfrom 1 funder$152K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$811K
Ln 12
Fees for servicesLn 2g$711K
Gifts and grantsLn 1h$100K
Investment incomeLn 3$41
Money outPt IX
$645K
Ln 25
Programscol B$487K
Managementcol C$158K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$167K
Total assetsLn 16$1.1M
LiabilitiesLn 26$30K
PeoplePt VI, VII
19
listed · VII A
PaidVII A3
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$100K
Fees for servicesLn 2g$711K
Investment incomeLn 3$41
Total revenueLn 12$811K
Assets in detailPt X, end of year
CashLn 1$115K
SavingsLn 2$53K
Cash and savings togetherLn 1–2$167K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$881K
Total assetsLn 16$1.1M
LiabilitiesLn 26$30K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 58
VolunteersI 630
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 FY23End FY23
Cash and savingsLn 1–2$164K$167K
Land, buildings, equipmentLn 10c$5K$0
Total assetsLn 16$900K$1.1M
LiabilitiesLn 26$18K$30K
Net assetsLn 32$883K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$359K$315K$44K
Other salaries and wagesLn 7$67K$59K$8K
Pension plan contributionsLn 8$5K$5K$620
Other employee benefitsLn 9$24K$21K$3K
Payroll taxesLn 10$38K$34K$4K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$33K$33K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$27K$27K
Information technologyLn 14$44K$25K$19K
OccupancyLn 16$29K$12K$17K
Conferences, conventions and meetingsLn 19$753$753
Depreciation, depletion and amortizationLn 22$5K$5K
Total functional expensesLn 25$645K$487K$158K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $774K$758K$16K$1.1M 990 PDF
FY2023 Viewing $811K$645K$166K$1.0M 990 PDF
FY2022 $1.0M$1.2M−$202K$883K 990 PDF
FY2021 $917K$664K$253K$1.1M 990 PDF
FY2020 $992K$551K$441K$832K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $811,271 across 5 lines filed
VIII-1d Related organizations$100,000
VIII-1h Total contributions, gifts and grants$100,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $711,230$711,230
VIII-3 Investment incomeExcluded from tax $41$41
VIII-12 Total revenueRelated to mission $711,230 · Unrelated business $0 · Excluded from tax $41$811,271
Part IX · Statement of functional expenses $645,001 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $314,522 · Management $44,480$359,002
IX-7 Other salaries and wagesPrograms $58,594 · Management $8,338$66,932
IX-8 Pension plan contributionsPrograms $4,535 · Management $620$5,155
IX-9 Other employee benefitsPrograms $20,945 · Management $2,861$23,806
IX-10 Payroll taxesPrograms $34,353 · Management $3,943$38,296
IX-11b Legal feesManagement $1,470$1,470
IX-11c Accounting feesManagement $33,100$33,100
IX-11g Other fees for servicesPrograms $5,739$5,739
IX-12 Advertising and promotionPrograms $5,000$5,000
IX-13 Office expensesManagement $27,374$27,374
IX-14 Information technologyPrograms $24,974 · Management $19,442$44,416
IX-16 OccupancyPrograms $12,409 · Management $16,800$29,209
IX-19 Conferences, conventions and meetingsPrograms $753$753
IX-22 Depreciation, depletion and amortizationPrograms $4,749$4,749
IX-25 Total functional expensesPrograms $486,573 · Management $158,428 · Fundraising $0$645,001
Part X · Balance sheet $1,078,294 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $111,508$114,513
X-2 Savings and temporary cash investmentsStart of year $52,775$52,816
X-4 Accounts receivableStart of year $18,657$21,460
X-9 Prepaid expenses and deferred chargesStart of year $7,187$8,661
X-10c Land, buildings and equipment, netStart of year $4,749$0
X-15 Other assetsStart of year $705,593$880,844
X-16 Total assetsStart of year $900,469$1,078,294
X-17 Accounts payable and accrued expensesStart of year $17,954$29,511
X-26 Total liabilitiesStart of year $17,954$29,511
X-27 Net assets without donor restrictionsStart of year $882,515$1,048,783
X-32 Total net assets or fund balancesStart of year $882,515$1,048,783
X-33 Total liabilities and net assetsStart of year $900,469$1,078,294
Part XI · Reconciliation of net assets $1,048,783 net assets at year end
XI-1 Total revenue$811,271
XI-2 Total expenses$645,001
XI-3 Revenue less expenses$166,270
XI-4 Net assets at start of year$882,515
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,048,783

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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