Parsippany Troy Hills Senior Citizens Housing Corporation
Parsippany Troy Hills Senior Citizens Housing Corp: Stable Finances, Low Overhead
EIN: 222295830 · Collingswood, NJ · Updated: 2026-04-04
Is Parsippany Troy Hills Senior Citizens Housing Corporation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Parsippany Troy Hills Senior Citizens Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Parsippany Troy Hills Senior Citizens Housing Corporation
Parsippany Troy Hills Senior Citizens Housing Corporation (EIN: 222295830) is a nonprofit organization based in Collingswood, NJ. The organization reported total revenue of $4.2M and total assets of $24.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Parsippany Troy Hills Senior Citizens Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Parsippany Troy Hills Senior Citizens Housing Corporation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Parsippany Troy Hills Senior Citizens Housing Corporation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, but the consistent 0% fundraising compensation suggests that executive salaries are either very low, non-existent, or covered under administrative expenses without specific disclosure in the provided summary.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Parsippany Troy Hills Senior Citizens Housing Corporation:
- Consistent revenue growth from $2,768,821 in 2016 to $4,158,487 in 2023.
- Significant asset growth from $12,584,176 in 2016 to $24,726,222 in 2023.
- Low and stable liabilities relative to assets, indicating strong financial stability.
- Efficient operations with a high percentage of expenses likely directed towards programs, given the 0% fundraising compensation.
Frequently Asked Questions about Parsippany Troy Hills Senior Citizens Housing Corporation
Is Parsippany Troy Hills Senior Citizens Housing Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Parsippany Troy Hills Senior Citizens Housing Corporation (EIN: 222295830) appears legitimate. Mission Score: 75/100. 0 red flags identified, 4 strengths noted.
How does Parsippany Troy Hills Senior Citizens Housing Corporation spend its money?
Parsippany Troy Hills Senior Citizens Housing Corporation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Parsippany Troy Hills Senior Citizens Housing Corporation tax-deductible?
Parsippany Troy Hills Senior Citizens Housing Corporation is registered as a tax-exempt nonprofit (EIN: 222295830). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Parsippany Troy Hills Senior Citizens Housing Corporation do?
Parsippany Troy Hills Senior Citizens Housing Corporation is a nonprofit organization in the Unknown sector, located in Collingswood, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Parsippany Troy Hills Senior Citizens Housing Corporation have?
Parsippany Troy Hills Senior Citizens Housing Corporation reported total revenue of $4,158,487. Based on 14 IRS 990 filings on record.
What are Parsippany Troy Hills Senior Citizens Housing Corporation's total assets?
Parsippany Troy Hills Senior Citizens Housing Corporation holds total assets of $24,726,222 as reported in IRS 990 filings.
Where is Parsippany Troy Hills Senior Citizens Housing Corporation located?
Parsippany Troy Hills Senior Citizens Housing Corporation is based in Collingswood, New Jersey.
What is Parsippany Troy Hills Senior Citizens Housing Corporation's EIN?
Parsippany Troy Hills Senior Citizens Housing Corporation's Employer Identification Number (EIN) is 222295830. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Parsippany Troy Hills Senior Citizens Housing Corporation?
Parsippany Troy Hills Senior Citizens Housing Corporation is classified under NTEE code Unknown (Unknown).
Is Parsippany Troy Hills Senior Citizens Housing Corporation a registered 501(c)(3)?
Parsippany Troy Hills Senior Citizens Housing Corporation appears in IRS records (EIN: 222295830). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Parsippany Troy Hills Senior Citizens Housing Corporation file IRS Form 990?
Yes, Parsippany Troy Hills Senior Citizens Housing Corporation has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Parsippany Troy Hills Senior Citizens Housing Corporation's revenue in 2023?
In the 202312 filing period, Parsippany Troy Hills Senior Citizens Housing Corporation reported total revenue of $3,512,259, total expenses of $2,723,114, and net assets of $22,449,690.
Is Parsippany Troy Hills Senior Citizens Housing Corporation's revenue growing or declining?
Parsippany Troy Hills Senior Citizens Housing Corporation's revenue is relatively stable. Revenue went from $3,469,902 (202212) to $3,512,259 (202312), a +1.2% change. Based on 14 filings on record.
What is Parsippany Troy Hills Senior Citizens Housing Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Parsippany Troy Hills Senior Citizens Housing Corporation covers tax period 202312. It shows revenue of $3,512,259, expenses of $2,723,114, total assets of $22,449,690, and liabilities of $205,342.
How much does Parsippany Troy Hills Senior Citizens Housing Corporation spend on programs vs administration?
Based on IRS 990 analysis, Parsippany Troy Hills Senior Citizens Housing Corporation allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Parsippany Troy Hills Senior Citizens Housing Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Parsippany Troy Hills Senior Citizens Housing Corporation appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 4 strengths noted.
What are Parsippany Troy Hills Senior Citizens Housing Corporation's strengths?
Positive indicators for Parsippany Troy Hills Senior Citizens Housing Corporation include: Consistent revenue growth from $2,768,821 in 2016 to $4,158,487 in 2023.. Significant asset growth from $12,584,176 in 2016 to $24,726,222 in 2023.. Low and stable liabilities relative to assets, indicating strong financial stability.. Efficient operations with a high percentage of expenses likely directed towards programs, given the 0% fundraising compensation.. These findings are derived from AI analysis of the organization's financial filings.
How does Parsippany Troy Hills Senior Citizens Housing Corporation compensate executives?
Executive compensation is not explicitly detailed in the provided data, but the consistent 0% fundraising compensation suggests that executive salaries are either very low, non-existent, or covered under administrative expenses without specific disclosure in the provided summary. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the organization manage to report 0% fundraising compensation consistently across all years?
The consistent reporting of 0% fundraising compensation suggests that fundraising efforts are either entirely volunteer-driven, integrated into administrative roles without specific allocation to fundraising compensation, or funded through other means not categorized as direct compensation for fundraising staff.
What is the primary source of the significant asset growth observed, from $12.5M in 2016 to $24.7M in 2023?
The substantial asset growth likely stems from a combination of retained earnings (revenue exceeding expenses), potential capital improvements or acquisitions of property, and possibly investment gains, given the nature of a housing corporation.
Filing History
IRS 990 filing history for Parsippany Troy Hills Senior Citizens Housing Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Parsippany Troy Hills Senior Citizens Housing Corporation's revenue has grown by 45.1%, moving from $2.4M to $3.5M. Total assets increased by 139.8% over the same period, from $9.4M to $22.4M. Total functional expenses rose by 29.6%, from $2.1M to $2.7M. In its most recent filing year (2023), Parsippany Troy Hills Senior Citizens Housing Corporation reported a surplus of $789K, with revenue exceeding expenses. The organization holds $205K in liabilities against $22.4M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $22.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $3.5M | $2.7M | $22.4M | $205K | — | — |
| 2022 | $3.5M | $2.8M | $19.8M | $210K | — | — |
| 2021 | $3.3M | $2.5M | $21.8M | $196K | — | View 990 |
| 2020 | $3.3M | $2.4M | $19.4M | $214K | — | View 990 |
| 2019 | $3.3M | $2.2M | $17.1M | $211K | — | View 990 |
| 2018 | $3.1M | $2.3M | $14.7M | $209K | — | View 990 |
| 2017 | $3.0M | $2.1M | $14.5M | $251K | — | View 990 |
| 2016 | $2.8M | $2.0M | $12.6M | $216K | — | View 990 |
| 2015 | $2.7M | $2.0M | $11.5M | $199K | — | View 990 |
| 2014 | $2.6M | $1.9M | $10.9M | $198K | — | View 990 |
| 2013 | $2.6M | $1.9M | $10.1M | $218K | — | View 990 |
| 2012 | $2.5M | $1.9M | $9.2M | $219K | — | View 990 |
| 2011 | $2.4M | $2.1M | $8.9M | $478K | — | View 990 |
| 2010 | $2.4M | $2.1M | $9.4M | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.5M, expenses of $2.7M, and assets of $22.4M (revenue +1.2% year-over-year).
- 2022: Revenue of $3.5M, expenses of $2.8M, and assets of $19.8M (revenue +4.0% year-over-year).
- 2021: Revenue of $3.3M, expenses of $2.5M, and assets of $21.8M (revenue -0.3% year-over-year).
- 2020: Revenue of $3.3M, expenses of $2.4M, and assets of $19.4M (revenue +0.2% year-over-year).
- 2019: Revenue of $3.3M, expenses of $2.2M, and assets of $17.1M (revenue +7.2% year-over-year).
- 2018: Revenue of $3.1M, expenses of $2.3M, and assets of $14.7M (revenue +4.2% year-over-year).
- 2017: Revenue of $3.0M, expenses of $2.1M, and assets of $14.5M (revenue +8.0% year-over-year).
- 2016: Revenue of $2.8M, expenses of $2.0M, and assets of $12.6M (revenue +2.5% year-over-year).
- 2015: Revenue of $2.7M, expenses of $2.0M, and assets of $11.5M (revenue +2.5% year-over-year).
- 2014: Revenue of $2.6M, expenses of $1.9M, and assets of $10.9M (revenue +1.1% year-over-year).
- 2013: Revenue of $2.6M, expenses of $1.9M, and assets of $10.1M (revenue +4.3% year-over-year).
- 2012: Revenue of $2.5M, expenses of $1.9M, and assets of $9.2M (revenue +4.9% year-over-year).
- 2011: Revenue of $2.4M, expenses of $2.1M, and assets of $8.9M (revenue -1.6% year-over-year).
- 2010: Revenue of $2.4M, expenses of $2.1M, and assets of $9.4M.
Data Sources and Methodology
This transparency report for Parsippany Troy Hills Senior Citizens Housing Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.