FORESIGHT AFFORDABLE HOUSING INC

EIN: 521979028 501(c)(3) Housing & Shelter

EGG HARBOR TOWNSHIP, NJ

Total Revenue
$25,355,509
Total Expenses
$39,515,197
Total Assets
$243,613,545
Net Assets
$2,995,954
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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
1996
Legal Domicile
NJ
Phone
6098232500
Tax Period
2024-01-01 to 2024-12-31

FORESIGHT AFFORDABLE HOUSING INC, founded in 1996, is a mid-sized nonprofit in the Housing & Shelter sector that reported $25.4M in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $39.5M exceeded revenue, resulting in a 56% operating deficit.

Mission

AFFORDABLE HOUSING PROVIDER THAT PROVIDES MANAGEMENT SERVICES AND PROJECT OVERSIGHT IN AN EFFORT TO PROVIDE QUALITY AFFORDABLE HOUSING TO LOWER INCOME INDIVIDUALS AND FAMILIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $278,346
Program Service Revenue $23,635,790
Investment Income $848,193
Other Revenue $593,180
TOTAL REVENUE $25,355,509

Expense Breakdown

Grants Paid $12,975
Salaries & Benefits $4,781,649
Fundraising Expenses $0
Program Expenses $35,752,161
Other Expenses $34,720,573
TOTAL EXPENSES $39,515,197

Year-over-Year Comparison

2024 2023 Change
Revenue $25,355,509 $19,874,329 +0.3%
Expenses $39,515,197 $26,057,345 +0.5%
Net Income $-14,159,688 $-6,183,016 +1.3%
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

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
7
Independent Members
4
Employees
11
Volunteers
4

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
4
$193,017
Total Directors
8
$209,017
Key Employees
1
$343,531
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DONALD REAPE PRESIDENT (THRU 11/30/24) 20.0
Officer Director
$105,126 $11,373 $116,499
DR BRUCE JOHNSON PRESIDENT (VP & ASSISTANT SECRETARY THRU 12/11/24) 20.0
Officer Director
$36,291 $15,767 $52,058
E JAMES HENDERSON VP & ASSISTANT SECRETARY (SECRETARY & TREASURER THRU 12/11/24) 10.0
Officer Director
$20,460 $0 $20,460
MICHAEL BYRNES SECRETARY/TREASURER (AS OF 12/11/24) 5.0
Officer Director
$4,000 $0 $4,000
GERALD F SCHWAM TRUSTEE 1.0
Director
$4,000 $0 $4,000
JANVIER L OSBORNE TRUSTEE 1.0
Director
$4,000 $0 $4,000
LYNDA BARNESS TRUSTEE 1.0
Director
$4,000 $0 $4,000
NEISA CARABALLO TRUSTEE 1.0
Director
$4,000 $0 $4,000
NELSON L MORGAN III EXECUTIVE VICE PRESIDENT 40.0
Key Emp
$288,122 $55,409 $343,531
MARTIN WHALEN VICE PRESIDENT OF DEVELOPMENT 40.0
Highest
$189,235 $47,317 $236,552
SHONTE' ESPINAL VP OF ASSET OPERATIONS 40.0
Highest
$173,366 $31,403 $204,769
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 $25,355,509 $39,515,197 $243,613,545 $-14,159,688
2023 $19,874,329 $26,057,345 $249,776,671 $-6,183,016
2022 $3,700,566 $4,001,529 $39,444,822 $-300,963
2021 $10,804,387 $6,078,776 $35,307,423 $4,725,611
2020 $4,404,481 $5,342,833 $32,311,251 $-938,352
2019 $4,358,951 $4,571,509 $32,940,319 $-212,558
2018 $4,667,470 $4,235,157 $32,057,702 $432,313
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