﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2017v2.3">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2018-10-12T11:24:50-04:00</ReturnTs>
    <TaxPeriodEndDt>2017-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>223480968</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>JOSEPH W BOWLEY &amp; CO LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>27 W CHURCH ST</AddressLine1Txt>
        <CityNm>BLACKWOOD</CityNm>
        <StateAbbreviationCd>NJ</StateAbbreviationCd>
        <ZIPCd>08012</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2017-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>222743093</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>FAIR SHARE HOUSING DEVELOPMENT INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>FAIR</BusinessNameControlTxt>
      <PhoneNum>8564399901</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1 ETHEL LAWRENCE BLVD</AddressLine1Txt>
        <CityNm>MOUNT LAUREL</CityNm>
        <StateAbbreviationCd>NJ</StateAbbreviationCd>
        <ZIPCd>08054</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>PETER J O'CONNOR</PersonNm>
      <PersonTitleTxt>PRESIDENT/EXEC. DIR.</PersonTitleTxt>
      <PhoneNum>8564399901</PhoneNum>
      <SignatureDt>2018-09-26</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>JOSEPH W BOWLEY CPA</PreparerPersonNm>
      <PTIN>P00042852</PTIN>
      <PhoneNum>8562288006</PhoneNum>
      <PreparationDt>2018-10-11</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>167.68.16.49</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2018-10-12</IPDt>
      <IPTm>10:24:50</IPTm>
      <IPTimezoneCd>CD</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>EA4667219D3749780AF8A7866FBA15170F22513E</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>A7C22AA24D7A78CE5033AEF849F0E3A860488B27</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2017</TaxYr>
    <BuildTS>2018-06-14 16:35:46Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="4">
    <IRS990 documentId="RetDoc2" referenceDocumentId="RetDoc4">
      <PrincipalOfficerNm>PETER J O'CONNOR</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>1 ETHEL LAWRENCE BLVD</AddressLine1Txt>
        <CityNm>MOUNT LAUREL</CityNm>
        <StateAbbreviationCd>NJ</StateAbbreviationCd>
        <ZIPCd>08054</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>1398251</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>false</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1986</FormationYr>
      <LegalDomicileStateCd>NJ</LegalDomicileStateCd>
      <ActivityOrMissionDesc>PROVIDE LOW AND MODERATE INCOME HOUSING</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>5</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>3</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>20</TotalEmployeeCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <PYContributionsGrantsAmt>144506</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>82504</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>852959</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>678056</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>662660</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>637691</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>198340</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>0</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>1858465</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>1398251</CYTotalRevenueAmt>
      <CYGrantsAndSimilarPaidAmt>0</CYGrantsAndSimilarPaidAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>483075</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>514302</CYSalariesCompEmpBnftPaidAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>1106</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>210319</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>327110</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>693394</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>841412</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>1165071</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>556839</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>15786341</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>16144920</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>2008384</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>1810124</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>13777957</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>14334796</NetAssetsOrFundBalancesEOYAmt>
      <MissionDesc>PROVIDE LOW AND MODERATE INCOME HOUSING</MissionDesc>
      <SignificantNewProgramSrvcInd>false</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>false</SignificantChangeInd>
      <ExpenseAmt>699711</ExpenseAmt>
      <Desc>DEVELOPMENT AND MANAGEMENT OF LOW AND MODERATE INCOME HOUSING, INCLUDING PLANNING AND CONSTRUCTION</Desc>
      <TotalProgramServiceExpensesAmt>699711</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc5">true</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd>false</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc3">false</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc3">false</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc3">false</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc3">true</CreditCounselingInd>
      <TempOrPermanentEndowmentsInd referenceDocumentId="RetDoc3">true</TempOrPermanentEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc3">true</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc3">false</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc3">false</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc3">true</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc3">true</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc3">false</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc3">false</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc3">false</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <ForeignActivitiesInd>false</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>false</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>false</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>false</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>false</FundraisingActivitiesInd>
      <GamingActivitiesInd>false</GamingActivitiesInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
      <ScheduleJRequiredInd>false</ScheduleJRequiredInd>
      <TaxExemptBondsInd>false</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>false</PYExcessBenefitTransInd>
      <LoanOutstandingInd>false</LoanOutstandingInd>
      <GrantToRelatedPersonInd>false</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>false</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>false</BusinessRlnWithFamMemInd>
      <BusinessRlnWithOfficerEntInd>false</BusinessRlnWithOfficerEntInd>
      <DeductibleNonCashContriInd>false</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>false</DeductibleArtContributionInd>
      <TerminateOperationsInd>false</TerminateOperationsInd>
      <PartialLiquidationInd>false</PartialLiquidationInd>
      <DisregardedEntityInd>false</DisregardedEntityInd>
      <RelatedEntityInd>false</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>false</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>false</ScheduleORequiredInd>
      <IRPDocumentCnt>15</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>false</BackupWthldComplianceInd>
      <EmployeeCnt>20</EmployeeCnt>
      <EmploymentTaxReturnsFiledInd>true</EmploymentTaxReturnsFiledInd>
      <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>false</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>false</NondeductibleContributionsInd>
      <IndoorTanningServicesInd>false</IndoorTanningServicesInd>
      <GoverningBodyVotingMembersCnt>5</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>3</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>false</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>false</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>false</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>false</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>false</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>false</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>false</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>true</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>true</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>false</OfficerMailingAddressInd>
      <LocalChaptersInd>false</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>false</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>false</ConflictOfInterestPolicyInd>
      <WhistleblowerPolicyInd>false</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>false</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>false</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>false</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>false</InvestmentInJointVentureInd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <PersonNm>CORPORATION</PersonNm>
        <PhoneNum>8564399901</PhoneNum>
        <USAddress>
          <AddressLine1Txt>1 ETHEL LAWRENCE BLVD</AddressLine1Txt>
          <CityNm>MOUNT LAUREL</CityNm>
          <StateAbbreviationCd>NJ</StateAbbreviationCd>
          <ZIPCd>08054</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <Form990PartVIISectionAGrp>
        <PersonNm>PETER J O'CONNOR</PersonNm>
        <TitleTxt>PRESIDENT/EX</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>40.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>93214</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MARIE MELENDEZ</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>40.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>53045</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DEBORAH DELGRANDE</PersonNm>
        <TitleTxt>SECRETARY</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>40.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>33586</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ALLISON BURKETT</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JEAN BRUNO</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>27.50</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>27.50</AverageHoursPerWeekRltdOrgRt>
        <InstitutionalTrusteeInd>X</InstitutionalTrusteeInd>
        <ReportableCompFromOrgAmt>27800</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>207645</TotalReportableCompFromOrgAmt>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>false</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <AllOtherContributionsAmt>82504</AllOtherContributionsAmt>
      <TotalContributionsAmt>82504</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>MANAGEMENT FEES</Desc>
        <TotalRevenueColumnAmt>534370</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>534370</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>DEVELOPER FEES</Desc>
        <TotalRevenueColumnAmt>65933</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>65933</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>RENT MGNT BUILDING</Desc>
        <TotalRevenueColumnAmt>63600</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>63600</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>OTHER</Desc>
        <TotalRevenueColumnAmt>14153</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>14153</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>678056</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>637691</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>637691</RelatedOrExemptFuncIncomeAmt>
      </InvestmentIncomeGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>1398251</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>1315747</RelatedOrExemptFuncIncomeAmt>
      </TotalRevenueGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>207645</TotalAmt>
        <ProgramServicesAmt>80193</ProgramServicesAmt>
        <ManagementAndGeneralAmt>127452</ManagementAndGeneralAmt>
      </CompCurrentOfcrDirectorsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>215023</TotalAmt>
        <ProgramServicesAmt>215023</ProgramServicesAmt>
      </OtherSalariesAndWagesGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>57666</TotalAmt>
        <ProgramServicesAmt>57666</ProgramServicesAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>33968</TotalAmt>
        <ProgramServicesAmt>33968</ProgramServicesAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>10074</TotalAmt>
        <ProgramServicesAmt>10074</ProgramServicesAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>2575</TotalAmt>
        <ManagementAndGeneralAmt>2575</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>551</TotalAmt>
        <ProgramServicesAmt>551</ProgramServicesAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>9818</TotalAmt>
        <ProgramServicesAmt>9818</ProgramServicesAmt>
      </InformationTechnologyGrp>
      <OccupancyGrp>
        <TotalAmt>39200</TotalAmt>
        <ProgramServicesAmt>39200</ProgramServicesAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>7526</TotalAmt>
        <ManagementAndGeneralAmt>7526</ManagementAndGeneralAmt>
      </TravelGrp>
      <InterestGrp>
        <TotalAmt>16982</TotalAmt>
        <ProgramServicesAmt>16982</ProgramServicesAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>42813</TotalAmt>
        <ProgramServicesAmt>42813</ProgramServicesAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>18982</TotalAmt>
        <ProgramServicesAmt>18982</ProgramServicesAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>SOCIAL SERVICES EDUCATION</Desc>
        <TotalAmt>127320</TotalAmt>
        <ProgramServicesAmt>127320</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>MISC</Desc>
        <TotalAmt>20488</TotalAmt>
        <ProgramServicesAmt>20488</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>DEVELOPMENT COST</Desc>
        <TotalAmt>16172</TotalAmt>
        <ProgramServicesAmt>16172</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>REAL ESTATE TAXES</Desc>
        <TotalAmt>5493</TotalAmt>
        <ProgramServicesAmt>5493</ProgramServicesAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>9116</TotalAmt>
        <ProgramServicesAmt>4968</ProgramServicesAmt>
        <ManagementAndGeneralAmt>3042</ManagementAndGeneralAmt>
        <FundraisingAmt>1106</FundraisingAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>841412</TotalAmt>
        <ProgramServicesAmt>699711</ProgramServicesAmt>
        <ManagementAndGeneralAmt>140595</ManagementAndGeneralAmt>
        <FundraisingAmt>1106</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>224121</BOYAmt>
        <EOYAmt>632484</EOYAmt>
      </CashNonInterestBearingGrp>
      <AccountsReceivableGrp>
        <BOYAmt>12926</BOYAmt>
        <EOYAmt>12926</EOYAmt>
      </AccountsReceivableGrp>
      <OthNotesLoansReceivableNetGrp>
        <BOYAmt>12074489</BOYAmt>
        <EOYAmt>11962730</EOYAmt>
      </OthNotesLoansReceivableNetGrp>
      <LandBldgEquipCostOrOtherBssAmt>2141756</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>694228</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>1479472</BOYAmt>
        <EOYAmt>1447528</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsProgramRelatedGrp>
        <BOYAmt>171873</BOYAmt>
        <EOYAmt>91469</EOYAmt>
      </InvestmentsProgramRelatedGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>1823460</BOYAmt>
        <EOYAmt>1997783</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>15786341</BOYAmt>
        <EOYAmt>16144920</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>1240534</BOYAmt>
        <EOYAmt>468105</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <EscrowAccountLiabilityGrp>
        <BOYAmt>28073</BOYAmt>
        <EOYAmt>1878</EOYAmt>
      </EscrowAccountLiabilityGrp>
      <MortgNotesPyblScrdInvstPropGrp>
        <BOYAmt>261952</BOYAmt>
        <EOYAmt>1213466</EOYAmt>
      </MortgNotesPyblScrdInvstPropGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>477825</BOYAmt>
        <EOYAmt>126675</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>2008384</BOYAmt>
        <EOYAmt>1810124</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
      <UnrestrictedNetAssetsGrp>
        <BOYAmt>1503116</BOYAmt>
        <EOYAmt>2280597</EOYAmt>
      </UnrestrictedNetAssetsGrp>
      <TemporarilyRstrNetAssetsGrp>
        <BOYAmt>12274841</BOYAmt>
        <EOYAmt>12054199</EOYAmt>
      </TemporarilyRstrNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>13777957</BOYAmt>
        <EOYAmt>14334796</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>15786341</BOYAmt>
        <EOYAmt>16144920</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>556839</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>false</FSAuditedInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc5">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>106102</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>158818</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>70429</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>144506</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>82504</CurrentTaxYearAmt>
        <TotalAmt>562359</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>106102</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>158818</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>70429</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>144506</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>82504</CurrentTaxYearAmt>
        <TotalAmt>562359</TotalAmt>
      </TotalCalendarYear170Grp>
      <PublicSupportTotal170Amt>562359</PublicSupportTotal170Amt>
      <OtherIncome170Grp>
        <CurrentTaxYearMinus1YearAmt>198340</CurrentTaxYearMinus1YearAmt>
        <TotalAmt>198340</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>760699</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>1315747</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.73930</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.75580</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART II, LINE 10</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER INCOME 198,340</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="RetDoc3">
      <AgentTrusteeEtcInd>false</AgentTrusteeEtcInd>
      <InclEscrowCustodialAcctLiabInd>false</InclEscrowCustodialAcctLiabInd>
      <EndowmentsHeldUnrelatedOrgInd>false</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>false</EndowmentsHeldRelatedOrgInd>
      <OtherAssetsOrgGrp>
        <Desc>DEVELOPER FEE COST</Desc>
        <BookValueAmt>1897778</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>TAX LOAN NON PROFITS</Desc>
        <BookValueAmt>97604</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>ESCROW EVAN FRANCIS</Desc>
        <BookValueAmt>2320</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>EMPLOYEE LOAN</Desc>
        <BookValueAmt>81</BookValueAmt>
      </OtherAssetsOrgGrp>
      <TotalBookValueOtherAssetsAmt>1997783</TotalBookValueOtherAssetsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>TAX LOAN MT LAUREL TWP</Desc>
        <Amt>97604</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DUE TO WALTERS GROUP</Desc>
        <Amt>22201</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>HRA PROPERTIES</Desc>
        <Amt>6870</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>126675</TotalLiabilityAmt>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="RetDoc4">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>NO REVIEW WAS OR WILL BE CONDUCTED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>NO DOCUMENTS AVAILABLE TO THE PUBLIC</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>