VILLAGE APARTMENTS OF CHERRY HILL NJ

EIN: 222390872 501(c)(3) Housing & Shelter

CAMDEN, NJ

Total Revenue
$2,045,655
Total Expenses
$2,286,215
Total Assets
$3,094,479
Net Assets
$-2,869,546
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
NJ
Principal Officer
ROBERT WAITE
Phone
8563724181
Tax Period
2022-07-01 to 2023-06-30

VILLAGE APARTMENTS OF CHERRY HILL NJ, founded in 1983, is a community nonprofit in the Housing & Shelter sector that reported $2.0M in total revenue in fiscal year 2022. Expenses of $2.3M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE ORGANIZATION HAS 149 UNITS WHICH ARE SUBSIDIZED BY THE FEDERAL DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER HUD SECTION 8.

Program Service Accomplishments

Program 1
Expenses: $2,119,261 Revenue: $472,357

PROMOTING THE WELFARE OF AND PROVIDING HOUSING FOR ELDERLY AND HANDICAPPED INDIVIDUALS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,567,184
Program Service Revenue $466,743
Investment Income $6,114
Other Revenue $5,614
TOTAL REVENUE $2,045,655

Expense Breakdown

Grants Paid $0
Salaries & Benefits $355,456
Fundraising Expenses $0
Program Expenses $2,119,261
Other Expenses $1,930,759
TOTAL EXPENSES $2,286,215

Year-over-Year Comparison

2022 2021 Change
Revenue $2,045,655 $1,985,506 +0.0%
Expenses $2,286,215 $2,310,553 0.0%
Net Income $-240,560 $-325,047 -0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

Governance Policies

✗ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$212,055
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REV ROBERT E HUGHES PRESIDENT 1.00
Officer Director
$0 $0 $0
REV RAYMOND GORMLEY VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
REV JASON ROCKS SECRETARY 1.00
Officer Director
$0 $0 $0
REV JOSEPH T SZOLCAK TREASURER 1.00
Officer Director
$0 $0 $0
MOST REV DENNIS J SULLIVAN TRUSTEE 1.00
Director
$0 $0 $0
JAMES REYNOLDS EXECUTIVE DIRECTOR 1.00
Officer
$30,087 $4,838 $162,184
ROBERT WAITE CONTROLLER 1.00
Officer
$7,745 $9,367 $49,871
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $2,045,655 $2,286,215 $3,094,479 $-240,560
2022 $1,985,506 $2,310,553 $3,554,647 $-325,047
2021 $1,991,787 $2,184,432 $3,965,981 $-192,645
2020 $1,937,754 $2,151,070 $4,283,719 $-213,316
2019 $1,933,523 $2,271,252 $4,627,849 $-337,729
2018 $1,937,788 $2,160,388 $5,261,705 $-222,600
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