Building Communities INC FY2023 filing

Tax-deductible

Metuchen, NJ501(c)(3)HousingEIN 81-5283538Revenue $896K in FY2023

On file with the IRSstpetersresidence.org5 Lee CT, 08840-1609 · Metuchen, NJTax-exempt since Nov 2022Publicly supported charity — 170(b)(1)(A)(vi)

This page gets seen. Tell your story. Claim this org.

Develop and manage vacant and underutilized properties for social good by providing for individuals and communities. The most significant activity is adaptive reuse of vacant convents to affordable senior housing.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$79K 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
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
3 of 4
filings with a surplus
Average surplus $7K a year · under 1% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$79K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$631K
150% of total assets
Concern: liabilities are 150% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$896K
+28% vs prior year
Spent
$873K
To programs
79%
Net assets
−$209K
By yearFY2022–FY2025
Revenue
$896K
FY2023▲ +28%
Tap a bar for its year
Revenue by fiscal year
FY2022$698K
FY2023$896K
FY2024$845K
FY2025$804K
Expenses
$873K
FY2023▲ +29%
Tap a bar for its year
Expenses by fiscal year
FY2022$675K
FY2023$873K
FY2024$908K
FY2025$761K
Net assets
−$209K
FY2023▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2022−$230K
FY2023−$209K
FY2024−$273K
FY2025−$229K

From the FY2023 Form 990 (year ending October 2023) · see the original

Give Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2022-03-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Nov 2022.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $686K Management & general 21% · $187K

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

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

7 people listed on the 990; $79K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$79,394Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Gina Principato’s $100K as Executive Director is at the 84th percentile of top reported officer pay among 852 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023
Gina Principato$100,000$105,039$79,394

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.

See Building Communities INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

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

Transforms vacant buildings into affordable housing and community spaces.

Questions for Building Communities INC

Tap to ask. Building Communities INC sees how many people are interested.

Your first name shows with your question. Building Communities INC answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $686K · in their own filed words · FY2022
01

The Senior Residence at St. Peter the Apostle is a supportive senior community dedicated to providing compassionate care, safe environment, quality services, and enrichment programs to enhance the lives of seniors.

$686Kprogram 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
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$896K
Ln 12
Fees for servicesLn 2g$856K
Gifts and grantsLn 1h$23K
Other incomeLn 4–11$17K
Money outPt IX
$873K
Ln 25
Programscol B$686K
Managementcol C$187K
Owns and owesPt X
−$209K
net assets · Ln 32
Cash and savingsLn 1–2$62K
Total assetsLn 16$422K
LiabilitiesLn 26$631K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$23K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$856K
Investment incomeLn 3$29
Other incomeLn 4–11$17K
Total revenueLn 12$896K
Assets in detailPt X, end of year
CashLn 1$25K
SavingsLn 2$37K
Cash and savings togetherLn 1–2$62K
Land, buildings, equipmentLn 10c$336K
Total assetsLn 16$422K
LiabilitiesLn 26$631K
Net assetsLn 32−$209K
OperationsPt I, VI
EmployeesI 515
VolunteersI 60
Fiscal year endsHeaderOctober
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$51K$62K
Land, buildings, equipmentLn 10c$363K$336K
Total assetsLn 16$427K$422K
LiabilitiesLn 26$656K$631K
Net assetsLn 32−$230K−$209K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$96K$96K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$300K$255K$44K
Other employee benefitsLn 9$30K$30K
Payroll taxesLn 10$36K$23K$13K
Accounting feesLn 11c$28K$28K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$6K$6K
OccupancyLn 16$132K$132K
InterestLn 20$24K$24K
Depreciation, depletion and amortizationLn 22$29K$29K
InsuranceLn 23$39K$39K
Other expenses (24a–d)Ln 24$145K$145K$0$0
Total functional expensesLn 25$873K$686K$187K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $804K$761K$44K−$229K 990 PDF
FY2024 $845K$908K−$64K−$273K 990 PDF
FY2023 Viewing $896K$873K$23K−$209K 990 PDF
FY2022 $698K$675K$23K−$230K 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 (6 parts)
Part I · Summary $896,253 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $88,667$23,086
I-9 Program service revenuePrior year $609,326$856,415
I-10 Investment incomePrior year $31$29
I-11 Other revenuePrior year $0$16,723
I-12 Total revenuePrior year $698,024$896,253
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 $364,072$462,067
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $310,977$411,043
I-18 Total expensesPrior year $675,049$873,110
I-19 Revenue less expensesPrior year $22,975$23,143
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $896,253 across 13 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$23,086
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$23,086
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $856,415 · Unrelated business $0 · Excluded from tax $0$856,415
VIII-3 Investment incomeRelated to mission $29 · Unrelated business $0 · Excluded from tax $0$29
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $16,723$16,723
VIII-12 Total revenueRelated to mission $856,444 · Unrelated business $0 · Excluded from tax $16,723$896,253
Part IX · Statement of functional expenses $873,110 across 13 lines filed
IX-5 Pay of current officers, directors and key staffManagement $96,453$96,453
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $255,178 · Management $44,333$299,511
IX-9 Other employee benefitsPrograms $30,257$30,257
IX-10 Payroll taxesPrograms $23,101 · Management $12,745$35,846
IX-11c Accounting feesManagement $27,654$27,654
IX-12 Advertising and promotionPrograms $9,445$9,445
IX-13 Office expensesManagement $5,774$5,774
IX-16 OccupancyPrograms $131,663$131,663
IX-20 InterestPrograms $23,641$23,641
IX-22 Depreciation, depletion and amortizationPrograms $28,842$28,842
IX-23 InsurancePrograms $38,929$38,929
IX-24 Other expenses (24a–d)Programs $145,095 · Management $0 · Fundraising $0$145,095
IX-25 Total functional expensesPrograms $686,151 · Management $186,959 · Fundraising $0$873,110
Part X · Balance sheet $422,196 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $13,990$24,945
X-2 Savings and temporary cash investmentsStart of year $37,081$37,174
X-4 Accounts receivableStart of year $13,067$24,224
X-10c Land, buildings and equipment, netStart of year $362,696$335,853
X-16 Total assetsStart of year $426,834$422,196
X-17 Accounts payable and accrued expensesStart of year $4,758$4,756
X-24 Unsecured notes and loans payableStart of year $157,265$148,930
X-25 Other liabilitiesStart of year $66,735$66,932
X-26 Total liabilitiesStart of year $656,376$631,291
X-27 Net assets without donor restrictionsStart of year −$229,542−$209,095
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$229,542−$209,095
X-33 Total liabilities and net assetsStart of year $426,834$422,196
Part XI · Reconciliation of net assets −$209,095 net assets at year end
XI-1 Total revenue$896,253
XI-2 Total expenses$873,110
XI-3 Revenue less expenses$23,143
XI-4 Net assets at start of year−$229,542
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$2,696
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$209,095

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.