2024-05-06T12:14:37-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 293 EISENHOWER PARKWAY 2ND FLOOR LIVINGSTON NJ 07039 990 2023-01-01 311510338 FREEMAN APARTMENTS INC FREE 9083251727 CO MARZULLI MANAGEMENT BLOOMFIELD NJ 07003 PHILIP T PASMANIK TREASURER 9083251727 2024-04-23 1 PHILIP PASMANIK 999009999 0 TARA DEL GAVIO P02438051 9739949494 2024-04-22 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z PHILIP T PASMANIK C/O MARZULLI MANAGEMENT BLOOMFIELD NJ 07003 191246 0 X N/A X 1997 NJ TO PROVIDE LOW INCOME HOUSING FOR THE DISABLED. 8 8 1 0 0 0 0 0 184203 191206 64 40 16381 0 200648 191246 0 0 0 0 12772 13304 0 0 0 253384 254533 266156 267837 -65508 -76591 1021787 960191 62554 77549 959233 882642 TO PROVIDE HOUSING FOR LOW INCOME DISABLED INDIVIDUALS. 0 0 241743 191206 THE ORGANIZATION PROVIDES 14 UNITS OF RESIDENTIAL HOUSING FOR LOW INCOME DISABLED INDIVIDUALS. 241743 1 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 7 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 NJ X RPMARZULLI CO INC 9737432300 264 BELLEVILLE AVENUE BLOOMFIELD NJ 07003 X SUSAN P HOWLEY PRESIDENT 1.00 X X 0 0 0 ELISA SANANMAN ASST SECRETARY 3.00 X X 0 0 0 JOHN WESTERVELT VICE PRESIDENT 0.50 X X 0 0 0 PHILIP T PASMANIK TREASURER 0.50 X X 0 0 0 BRUCE BERGEN TRUSTEE 0.50 X 0 0 0 ED HEATON TRUSTEE 0.50 X 0 0 0 BROTHER BENEDICT LOBALBO SECRETARY 0.50 X X 0 0 0 THOMAS STRANO TRUSTEE 0.50 X 0 0 0 ELIZABETH MCCLENDON TRUSTEE 0.50 X 0 0 0 0 0 0 0 0 0 0 0 RENT RECEIPTS - HUD 531110 127622 127622 RENT RECEIPTS - TENANT 531110 62982 62982 LAUNDRY REVENUE 812300 602 602 191206 40 40 191246 191206 0 40 11300 11300 1025 1025 979 979 30252 30252 804 804 12000 12000 4312 4312 22213 22213 74460 74460 16021 16021 MISCELLANEOUS 39813 31246 8567 CONTRACTS 37494 37494 ADMIN RENT-FREE UNIT 13922 13922 SUPPLIES 1763 1763 1479 1068 411 267837 241743 26094 0 638 1542 2521 1094 5028 5939 2039743 1170514 943689 869229 69911 82387 1021787 960191 49747 64098 7965 8973 4842 4478 62554 77549 X 959233 882642 959233 882642 1021787 960191 -76591 0 X X 0 1 X 1 1 1 X 40000 40000 188687 186850 186473 184203 191206 937419 228687 186850 186473 184203 191206 977419 0 0 0 977419 48 33 48 64 40 233 48 33 48 64 40 233 258 16381 16639 228735 187141 186521 200648 191246 994291 0.98300 0.98260 0.00020 0.00030 X 0 1 X 1822430 1032520 789910 217313 137994 79319 869229 TENANT SECURITY DEPOSITS HELD IN TRUST 4478 RESTRICTED DEPOSITS 77909 82387 X 191246 0 191246 0 191246 267837 0 267837 0 267837 PART IV, LINE 2B: THE ORGANIZATION MAINTAINS SECURITY DEPOSITS IN TRUST IN THE NAME OF EACH TENANT. PART X, LINE 2: THE PROJECT IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PROJECT FOLLOWS STANDARDS THAT PROVIDE CLARIFICATION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE PROJECT'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE PROJECT'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE. NO INTEREST AND PENALTIES WERE RECORDED DURING YEARS 2023 AND 2022. AT DECEMBER 31, 2023 AND 2022, THERE ARE NO SIGNIFICANT INCOME TAX UNCERTAINTIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION CONTRACTS A 3RD PARTY MANAGEMENT COMPANY TO PERFORM MANAGEMENT FUNCTIONS FOR THE HOUSING UNITS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WILL BE GIVEN TO ALL TRUSTEES PRIOR TO FILING FOR REVIEW. A VOTE WILL BE TAKEN FOR THE APPROVAL OF THE FORM. FORM 990, PART VI, SECTION B, LINE 15 THE FEES PAID TO THE MANAGEMENT COMPANY ARE DETERMINED AND REGULATED BY HUD. THE ORGANIZATION DOES NOT COMPENSATE OFFICERS AND DOES NOT HAVE KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FORMS 1023 AND 990 ARE AVAILABLE UPON REQUEST AND FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART XII, LINE 2C THE OVERSIGHT PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. NEW JERSEY CONNECT INC PO BOX 2052 WESTFIELD NJ 079012052 CONSULTING FUNCTIONS AND PAYMENTS OF VARIOUS TAXES NJ 501(C)(3) 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 SCHEDULE R PART II NEW JERSEY CONNECT WAS THE DEVELOPER OF FREEMAN APARTMENTS, INC. THE CURRENT CO-SPONSORS ARE DOMUS AND NEW JERSEY CONNECT. FOUR TRUSTEES ARE FROM NEW JERSEY CONNECT AND FOUR ARE FROM DOMUS.