BETA

RIESE PROJECTS INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
RIESE PROJECTS INC (EIN 23-7311149)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-08-27
IRS object ID
202542399349301104
Schema version
2024v5.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-08-27T09:55:23-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN823207560PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BURNS DRAEGER & HUMPHRIES LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line125B HANOVER ROAD SUITE 150AddressLine1Txt
CityFLORHAM PARKCityNm
State AbbreviationNJStateAbbreviationCd
ZIP079321410ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN237311149EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1RIESE PROJECTS URBAN RENEWAL CORPORATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlRIESBusinessNameControlTxt
Phone9737780430PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1211 20TH AVENUEAddressLine1Txt
CityPATERSONCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07501ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOSEPH A PUSKASPersonNm
Person TitleTREASURERPersonTitleTxt
Phone9737900288PhoneNum
Signature2025-08-04SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonNEIL E BURNS CPAPreparerPersonNm
PTINP00133451PTIN
Phone9733770211PhoneNum
Preparation2025-08-04PreparationDt
Self EmployedYes (X)SelfEmployedInd
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerREV MARC A MANCINIPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line132 ST JAMES PLACEAddressLine1Txt
CityTOTOWACityNm
State AbbreviationNJStateAbbreviationCd
ZIP07512ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$3,014,166GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1971FormationYr
Legal Domicile StateNJLegalDomicileStateCd
Activity Or MissionTHE PROJECT IS A 201 UNIT APARTMENT PROJECT FOR THE ELDERLY LOCATED IN PATERSON, NJ. THE PROJECT IS OPERATED UNDER SECTION 236 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE NEW JERSEY HOUSING MORTGAGE AND FINANCE AGENCY (NJHMFA) AND THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS.ActivityOrMissionDesc
Voting Members Governing Body13VotingMembersGoverningBodyCnt
Voting Members Independent13VotingMembersIndependentCnt
Total Employee5TotalEmployeeCnt
Total Volunteers13TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$2,728,977PYProgramServiceRevenueAmt
CY Program Service Revenue$2,824,761CYProgramServiceRevenueAmt
PY Investment Income$143,267PYInvestmentIncomeAmt
CY Investment Income$172,326CYInvestmentIncomeAmt
PY Other Revenue$36,602PYOtherRevenueAmt
CY Other Revenue$17,079CYOtherRevenueAmt
PY Total Revenue$2,908,846PYTotalRevenueAmt
CY Total Revenue$3,014,166CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$367,564PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$368,511CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$2,069,408PYOtherExpensesAmt
CY Other Expenses$2,309,918CYOtherExpensesAmt
PY Total Expenses$2,436,972PYTotalExpensesAmt
CY Total Expenses$2,678,429CYTotalExpensesAmt
PY Revenues Less Expenses$471,874PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$335,737CYRevenuesLessExpensesAmt
Total Assets BOY$11,595,089TotalAssetsBOYAmt
Total Assets EOY$11,637,798TotalAssetsEOYAmt
Total Liabilities BOY$1,217,224TotalLiabilitiesBOYAmt
Total Liabilities EOY$924,196TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$10,377,865NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$10,713,602NetAssetsOrFundBalancesEOYAmt
MissionTO PROVIDE LOW-INCOME SENIOR CITIZENS AND HANDICAPPED HOUSING. THE RIESE PROJECTS INC PROVIDES 201 UNITS, WITH ONE OF THE UNITS OCCUPIED BY THE SUPERINTENDENT.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$2,474,718ExpenseAmt
Revenue$2,841,840RevenueAmt
DescTO PROVIDE LOW INCOME SENIOR CITIZEN HOUSING. THE PROJECT HAS 201 UNITS.Desc
Total Program Service Expenses$2,474,718TotalProgramServiceExpensesAmt
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document10IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee5EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members13GoverningBodyVotingMembersCnt
Independent Voting Member13IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesYes (1)DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn0AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc0RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CORPORATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9732799262PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1211 20TH AVENUEAddressLine1Txt
CityPATERSONCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07501ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
REV MARC A MANCIN
PRESIDENT10.00Yes (X)Yes (X)$0$0$0
MSGR HERBERT K TILLYER
DIRECTOR1.00Yes (X)$0$0$0
DEACON JOSEPH A PUSKAS
TREASURER5.00Yes (X)Yes (X)$0$0$0
ANDREW F MCBRIDE III ESQ
DIRECTOR1.00Yes (X)$0$0$0
DEACON PETER CISTARO
VICE PRESIDENT1.00Yes (X)Yes (X)$0$0$0
THOMAS BURNS
DIRECTOR1.00Yes (X)$0$0$0
DENNIS P BUTLER
DIRECTOR1.00Yes (X)$0$0$0
LYNN E GAFFNEY
DIRECTOR1.00Yes (X)$0$0$0
PATRICK MURRAY
DIRECTOR1.00Yes (X)$0$0$0
SR MAUREEN SHAUGHNESSY SC
DIRECTOR1.00Yes (X)$0$0$0
DEACON GREGORY J SZPUNAR
SECRETARY1.00Yes (X)Yes (X)$0$0$0
DEACON MARC MACKIN
DIRECTOR1.00Yes (X)$0$0$0
ANTHONY DENOVA
DIRECTOR1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1RAYMOND P MARZULLI COMPANY INCBusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

FieldValueIRS element (for citing)
Address Line1264 BELLEVILLE AVENUEAddressLine1Txt
CityBLOOMFIELDCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07003ZIPCd
FieldValueIRS element (for citing)
ServicesBUILDING MANAGEMENT AND ACCOUNTING SERVIServicesDesc
Compensation$133,266CompensationAmt
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K1CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescRENT- SENIOR HOUSING PDesc
Business531110BusinessCd
Total Revenue Column$2,824,761TotalRevenueColumnAmt
Related Or Exempt Func Income$2,824,761RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$2,824,761TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$172,326TotalRevenueColumnAmt
Exclusion$172,326ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp (3 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
LAUNDRY INCOME531110$8,161$8,161
MISCELLANEOUS INCOME531110$4,723$4,723
TENANT CHARGES531110$4,195$4,195
FieldValueIRS element (for citing)
Other Revenue Total$17,079OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$3,014,166TotalRevenueColumnAmt
Related Or Exempt Func Income$2,841,840RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$172,326ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$271,650TotalAmt
Program Services$271,650ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$71,779TotalAmt
Program Services$71,779ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$25,082TotalAmt
Program Services$25,082ProgramServicesAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$120,166TotalAmt
Management And General$120,166ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$3,126TotalAmt
Management And General$3,126ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$16,000TotalAmt
Management And General$16,000ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$65,204TotalAmt
Program Services$13,885ProgramServicesAmt
Management And General$51,319ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$13,100TotalAmt
Management And General$13,100ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$1,387,552TotalAmt
Program Services$1,387,552ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$29,240TotalAmt
Program Services$29,240ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$459,548TotalAmt
Program Services$459,548ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$185,431TotalAmt
Program Services$185,431ProgramServicesAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescBAD DEBT EXPENSEDesc
Total$30,551TotalAmt
Program Services$30,551ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,678,429TotalAmt
Program Services$2,474,718ProgramServicesAmt
Management And General$203,711ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$3,841,406BOYAmt
EOY$719,115EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$2,055,976BOYAmt
EOY$5,382,095EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$16,937BOYAmt
EOY$41,861EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$104,776BOYAmt
EOY$103,644EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$10,434,053LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$5,183,881LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$5,376,886BOYAmt
EOY$5,250,172EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
BOY$199,108BOYAmt
EOY$140,911EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$11,595,089BOYAmt
EOY$11,637,798EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$134,738BOYAmt
EOY$108,281EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$50,225BOYAmt
EOY$53,643EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$957,734BOYAmt
EOY$689,158EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$74,527BOYAmt
EOY$73,114EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$1,217,224BOYAmt
EOY$924,196EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$10,377,865BOYAmt
EOY$10,713,602EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$10,377,865BOYAmt
EOY$10,713,602EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$11,595,089BOYAmt
EOY$11,637,798EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$335,737ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit Committee0AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$610,207OtherCostOrOtherBasisAmt
Book Value$610,207BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$8,854,299OtherCostOrOtherBasisAmt
Depreciation$4,376,082DepreciationAmt
Book Value$4,478,217BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$153,187OtherCostOrOtherBasisAmt
Depreciation$52,201DepreciationAmt
Book Value$100,986BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$816,360OtherCostOrOtherBasisAmt
Depreciation$755,598DepreciationAmt
Book Value$60,762BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$5,250,172TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescTENANT SECURITY DEPOSITSDesc
Amt$73,114Amt
FieldValueIRS element (for citing)
Total Liability$73,114TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$3,014,166TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$3,014,166RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$3,014,166TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$2,678,429TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$2,678,429ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$2,678,429TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationACCOUNTING FOR UNCERTAINTY IN INCOME TAXES THE PROJECT RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE PROJECT HAD NO UNCERTAIN TAX POSITIONS THAT REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE PROJECT IS NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2021.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 3THE DAY TO DAY OPERATION OF THE PROJECTS IS CONTRACTED TO THE RAYMOND P.MARZULLI COMPANY,INC., A PROFESSIONAL REAL ESTATE MANAGEMENT COMPANY.
FORM 990, PART VI, SECTION A, LINE 6MEMBERS OF THE CORPORATION MAY BE ANY CITIZEN OF THE UNITED STATES OF MAJORITY AGE, INTERESTED IN THE EXTENSION OF THE OBJECTIVES OF THECORPORATION, WHO HAS DULY EXECUTED AND FILED AN APPLICATION FOR MEMBERSHIP WHICH HAS BEEN APPROVED BY MAJORITY VOTE OF THE BOARD OF DIRECTORS, SHALL BE CONSIDERED A VOTING MEMBER OF THE GENERAL MEMBERSHIP OF THE CORPORATION. NO MEMBER SHALL HAVE THE RIGHT TO MORE THAN ONE VOTE ON ANY ISSUED, MOTIONOR RESOLUTION AT ANY GENERAL, ANNUAL OR SPECIAL MEETING.
FORM 990, PART VI, SECTION A, LINE 7AMEMBERS OF THE BOARD OF DIRECTORS ARE APPOINTED BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION A, LINE 7BDISTRIBUTIONS FROM THE REPAIRS AND REPLACEMENT RESERVE MUST BE APPROVED BY HUD.
FORM 990, PART VI, SECTION B, LINE 11BTHE PRESIDENT AND TREASURER RECEIVE A HARD COPY OF THE FORM 990 FOR REVIEW PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 15BMANAGING FEES PAID TO THE MANAGING AGENT ARE DETERMINED IN ACCORDANCE WITH HUD REGULATIONS.
FORM 990, PART VI, SECTION C, LINE 19THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE OFFICES OF THE CORPORATION.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (7 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtDirect Controlling NADirectControllingNACdControlled OrganizationControlledOrganizationIndPublic Charity StatusPublicCharityStatusTxt
THE RIESE CORPORATION
211 20TH AVENUEPATERSONNJ07501221823795PROVIDE SERVICES TO IMPROVE THE QUALITY OF LIFE OF LOW INCOME FAMILIESNJ501(C)4N/A0
THE RIESE ST GERARD HOUSING CORP
505 WEST BROADWAYPATERSONNJ07522227311149LOW INCOME HOUSINGNJ501(C)3N/A07
RIESE MADISON PARK INC
70 DEY STREETPATERSONNJ07503222125691LOW INCOME HOUSINGNJ501(C)3N/A07
THE RIESE ST MARY'S COPORATION
200 PENNINGTON AVENUEPASSAICNJ07055222299252LOW INCOME HOUSINGNJ501(C)3N/A07
MARTIN DE PORRES VILLAGE INC
1 GREEN STREETPATERSONNJ07051222335549LOW INCOME HOUSINGNJ501(C)307
RIESE WEST URBAN RENEWAL CORPORATION
195 20TH AVENUEPATERSONNJ07501871762348LOW INCOME HOUSINGNJ501(C)4N/A0
RIESE EAST URBAN RENEWAL CORPORATION
225 20TH AVENUEPATERSONNJ07501854073771LOW INCOME HOUSINGNJ501(C)40
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

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