ADVANCE HOUSING FOUNDATION INC

EIN: 261940826 501(c)(3) Health Care

PARAMUS, NJ

Total Revenue
$4,753
Total Expenses
$21,978
Total Assets
$196,599
Net Assets
$196,131
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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
2008
Legal Domicile
NJ
Principal Officer
CAROLYN JAIME LCSW
Phone
2014989140
Tax Period
2023-01-01 to 2023-12-31

ADVANCE HOUSING FOUNDATION INC, founded in 2008, is a micro nonprofit in the Health Care sector that reported $5K in total revenue in fiscal year 2023. Revenue fell 81% from the prior year — a significant decline worth monitoring. Expenses of $22K exceeded revenue, resulting in a 362% operating deficit.

Mission

THE MISSION OF ADVANCE HOUSING FOUNDATION, INC. IS TO SERVE AS THE GENERAL FUNDRAISING AND SUPPORT BRANCH OF ADVANCE HOUSING, INC. FOR INDIVIDUALS WITH PSYCHIATRIC DISABILITIES. ADVANCE HOUSING FOUNDATION, INC. ALSO PROVIDES TRUST FUND MANAGEMENT SERVICES TO THOSE INDIVIDUALS TO FURTHER HELP THEM LIVE INDEPENDENTLY AND PRODUCTIVELY IN THE COMMUNITY.

Program Service Accomplishments

Program 1

GENERAL FUNDRAISING AND TRUST FUND MANAGEMENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,397
Program Service Revenue $0
Investment Income $3,356
Other Revenue $0
TOTAL REVENUE $4,753

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $21,978
TOTAL EXPENSES $21,978

Year-over-Year Comparison

2023 2022 Change
Revenue $4,753 $24,996 -0.8%
Expenses $21,978 $4,383 +4.0%
Net Income $-17,225 $20,613 -1.8%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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
2
Independent Members
1
Employees
N/A
Volunteers
N/A

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
2
$179,926
Total Directors
2
$179,926
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CAROLYN JAIME LCSW MEMBER AND CEO 35.00
Officer Director
$0 $5,926 $179,926
CHARLES HIGGINS PRESIDENT 1.00
Officer Director
$0 $0 $0
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
2024 No data No data No data No data
2023 $4,753 $21,978 $196,599 $-17,225
2022 $24,996 $4,383 $214,556 $20,613
2021 $5,310 $3,756 $193,573 $1,554
2020 $10,379 $3,329 $191,189 $7,050
2019 $31,731 $7,324 $184,285 $24,407
2018 $25,098 $22,997 $162,507 $2,101
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