2015-08-05T06:43:54-05:00 2014-12-31 222981982 FALLON & LARSEN LLP 1390 STATE ROUTE 36 STE 102 HAZLET NJ 07730 990 2014-01-01 232895377 PROJECT HOME COMMUNITY DEVELOPMENT CORP PROJ 2152327229 1415 FAIRMOUNT AVENUE ROOM/SUITE 241 PHILADELPHIA PA 19130 JOAN MCCONNON PRESIDENT 2152327229 2015-07-20 true RICHARD M LARSEN P01233142 7328882070 2015-07-23 2014 2016-03-07 17:11:31Z JOAN MCCONNON 1415 FAIRMOUNT AVE SUITE 241 PHILADELPHIA PA 19130 2186311 false X WWW.PROJECTHOME.ORG X 1997 PA TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS AND FAMILIES IN THE NORTH PHILADELPHIA AREA. THE CORPORATION ACQUIRES, REHABILITATES AND SELLS PROPERTIES TO QUALIFYING INDIVIDUALS AND OPERATES 112 AFFORDABLE HOUSING UNITS AND COMMERCIAL SPACE. 6 2 0 0 639207 1874212 426441 288462 2698 2646 33737 20991 1102083 2186311 0 0 0 0 0 1454558 1392449 1454558 1392449 -352475 793862 12017424 13385274 6601821 7175809 5415603 6209465 X TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS AND FAMILIES IN THE NORTH PHILADELPHIA AREA. THE CORPORATION ACQUIRES, REHABILITATES AND SELLS PROPERTIES TO QUALIFYING INDIVIDUALS AND OPERATES 112 AFFORDABLE HOUSING UNITS AND COMMERCIAL SPACE. false false 1384499 OPERATION OF AFFORDABLE HOUSING UNITS TO LOW-INCOME INDIVIDUALS AND FAMILIES. 1384499 true true false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false true false false false false false true false false false true 3 0 true 0 false false false false false false false false false false X 6 2 false true false false false false false true false false false true true true true true true false false false X PROJECT HOME INC 2152327229 1415 FAIRMOUNT AVE SUITE 241 PHILADELPHIA PA 19130 JOAN MCCONNON TREASURER 1.00 39.00 X X 0 202820 19018 S MARY SCULLION PRESIDENT 1.00 39.00 X X 0 89455 7356 PRISCILLA BENNETT SECRETARY 0.00 40.00 X X 0 35644 8391 CHARLENE TAYLOR DIRECTOR 0.00 5.00 X 0 4672 0 MIKE BREEN DIRECTOR 0.00 0.00 X 0 0 0 ALICE HERRON DIRECTOR 0.00 0.00 X 0 0 0 332591 34765 false true false 1358570 515642 1874212 TENANT RENT 531110 217692 217692 PROGRAM RELATED INVEST. INC. 532000 70770 70770 288462 2646 2646 OTHER SERVICE AND RELATED REV 900099 20991 20991 20991 2186311 309453 2646 X 57938 57938 2410 2410 7950 7950 313875 313875 910 910 6959 6959 129007 129007 257991 257991 329435 329435 23963 23963 OPERATING AND MAINTENANCE 225907 225907 REAL ESTATE TAXES 32137 32137 BAD DEBTS 2423 2423 PROGRAM EXP'S - GENERAL 1544 1544 1392449 1384499 7950 0 239127 618938 58296 93904 10613429 5433054 3950252 5180375 13554 12110 7756195 7479947 12017424 13385274 144665 398639 3113526 3183526 3343630 3593644 6601821 7175809 X 5366414 6160276 49189 49189 5415603 6209465 12017424 13385274 793862 X false true X true true true X 100000 100000 558174 639207 1874212 3271593 100000 100000 558174 639207 1874212 3271593 3271593 185 83 123814 71703 2646 198431 51591 33737 85328 3555352 309453 0.92020 0.84170 X PART II, LINE 10 MISCELLANEOUS INCOME 85,328 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 117167 117167 8459292 5021719 3437573 2036970 411335 1625635 5180375 N/R - PROJECT H.O.M.E. INVESTMENT FD 7078755 DEPOSITS AND RESERVES 295976 DUE FROM RELATED PARTY 49189 TENANT SECURITY DEPOSITS 27733 ACCRUED INTEREST 17693 PREPAID EXPENSES 10601 7479947 NOTE PAYABLE - PROJECT H.O.M.E. 3564334 TENANT SECURITY DEPOSITS 27733 PREPAID RENT 1577 3593644 X 2186311 2186311 2186311 1392449 1392449 1392449 SCHEDULE D, PAGE 3, PART X THE CORPORATION IS A NOT-FOR-PROFIT CORPORATION WHICH IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE CORPORATION IS NOT TAXED ON INCOME DERIVED FROM ITS EXEMPT FUNCTIONS. HOWEVER, THE CORPORATION IS SUBJECT TO TAX ON UNRELATED BUSINESS INCOME, WHICH IS GENERATED FROM THE CORPORATION'S INVESTMENT INCOME AND OTHER ACTIVITIES NOT RELATED TO THEIR STATED EXEMPT PURPOSES. THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE CORPORATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE CORPORATION, INCLUDING CHANGES TO THE CORPORATIONS STATUS AS A NOT-FOR-PROFIT ENTITY. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. THE CORPORATION HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS. CURRENTLY, THE TAX YEARS OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE ARE THE 2011, 2012 AND 2013 TAX YEARS. THE CORPORATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAVE MEASURED THE CORPORATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE CORPORATION HAS MET THE REQUIREMENTS TO MAINTAIN ITS TAX-EXEMPT STATUS, HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. ANY INTEREST OR PENALTIES ASSESSED TO THE CORPORATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. false false false false false false false false false JOAN MCCONNON TREASURER 202820 4828 14190 221838 S MARY SCULLION JOAN MCCONNON DIRECTORS 371814 MGMT FEES & REIMB EX false FORM 990 - ORGANIZATION'S MISSION TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS AND FAMILIES IN THE NORTH PHILADELPHIA AREA. THE CORPORATION ACQUIRES, REHABILITATES AND SELLS PROPERTIES TO QUALIFYING INDIVIDUALS AND OPERATES 112 AFFORDABLE HOUSING UNITS AND COMMERCIAL SPACE. FORM 990, PAGE 6, PART VI, LINE 3 THE CORPORATION IS MANAGED BY PROJECT HOME, INC., AN AFFILIATED 501(C) (3)CORPORATION. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS EMAILED TO ALL BOARD MEMBERS FOR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C THERE IS ONE BOARD MEETING EACH YEAR AND EACH BOARD MEMBER IS REQUIRED TO SIGN AND SUBMIT THEIR STATEMENT REGARDING ANY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 19 A COPY IS MAINTAINED BY THE CONTROLLER FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED LABOR 313,875 0 0 PROJECT HOME 1415 FAIRMOUNT AVE SUITE 241 PHILADELPHIA PA 19130 232555950 SUPRTV HSG PA 501C3 7 NA false HOUSING N/A false false false true true true false false false false true false false true false false true false false false