Cape May Project INC EIN 26-4153204 Form 990 (PDF) Claim this org

Cape May Project INC

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Offers housing and services for elderly or disabled individuals to enhance their well-being and independence. For fiscal year 2024 it reported $65K in revenue, $87K in expenses, and $-263K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Freehold, NJ
Filings
5 on file (2020–2024)
Revenue
$65KFY2024
Expenses
$87K
Net assets
$-263K
People
3
Filings
5
Updates
0
More identity details & actions ⌄
EIN  26-4153204 Public charity (501(c)(3)) Freehold, NJ
Form 990 (PDF)
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Size
<$100K
What they do
Offers housing and services for elderly or disabled individuals to enhance their well-being and independence.
Leadership
Victor Luna · President
Money in and out
$65K revenue, $87K expenses
Bottom line
90% program efficiency
Where the money goes · FY2024
Total revenue
$65K
Pt VIII · Ln 12
Total expenses
$87K
Pt IX · Ln 25
Net assets
$-263K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$22K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Program efficiency
90%
of spending reaches programs▲ +0.8% vs prior filing year
Operating runway
29.8mo
months of highly liquid reserves at operating expense rate▲ +9% vs prior filing year
Surplus margin
-34%
revenue over expenses, this year▼ -29% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$65K
FY2024▲ +2%
Expenses
$87K
FY2024▲ +8%
Total assets
$1.2M
FY2024+0.07%
Total liabilities
$1.4M
FY2024▲ +2%
Total revenue
$65K
Pt VIII · Ln 12
Total expenses
$87K
Pt IX · Ln 25
Net assets
$-263K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$22K
Total assetsPt X · Ln 16$1.2M
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCape May Project INC
EINHdr · item D26-4153204
Principal addressHdr · item CFreehold, NJ
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNJ
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L22)
Ruling yearIRS BMFDec 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $78K of program spending, described in the organization's own filed words · FY2024.
01

To provide elderly or disabled persons with housing facilities and services specially designed to meet their physical, social and psychological needs, and to promote their health, security, happiness, and usefulness in longer living.

$78Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$64K · 98%
Investment income$1K · 2%
Other revenue$354 · 1%
Program service revenue98%$64K
Investment income2%$1K
Other revenue1%$354
Total revenueLn 12$65K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$78K
Management & general10%$9K
Total functional expensesLn 25$87K

Balance Sheet

Part X · end of year
CashLn 1$217K
Total assetsLn 16$1.2M
Total liabilitiesLn 26$1.4M
Total net assetsLn 32$-263K
Months of cash on handcomputed29.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $217K · Operating expenses/yr $87K
29.8 months
Where the money goes
Program services
Program services $78K · Total expenses $87K
90%
Management & General
Management & general $9K · Total expenses $87K
10%
Fundraising
Fundraising $0 · Total expenses $87K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $65K
0%
Government reliance
Government grants — · Total revenue $65K
Earned-income share
Program service revenue $64K · Total revenue $65K
98%
Investment reliance
Investment income $1K · Total revenue $65K
+2%
Program self-sufficiency
Program service revenue $64K · Total expenses $87K
73%
Growth & trend
Revenue growth (YoY)
This year $65K · Prior year $64K
+2%
Revenue CAGR
FY2020 $65K · FY2024 $65K
+0.2%
Net-asset trend (YoY)
End of year $-263K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $65K · Expenses $87K
-34%
Liabilities-to-Assets
Total liabilities — · Total assets $1.2M
Net-asset ratio
Net assets $-263K · Total assets $1.2M
-23%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.2M
0%
People & payroll
Highest Reported Total Compensation
Individual Victor Luna · Reported title President · Highest reported compensation $0 · Total expenses $87K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $87K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 10%
Revenue growth 2%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 3%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$65K revenue · viewing · ⤓ 990 PDF
FY2023$64K revenue · ⤓ 990 PDF
FY2022$64K revenue · ⤓ 990 PDF
FY2021$64K revenue · ⤓ 990 PDF
FY2020$65K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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